Yuga Labs, the parent company of the boring ape, officially launched the token APE today

Beginning at 8:30 am EST on March 17, 2022, Yuga Labs, the parent company of Bored Ape Yacht Club (BAYC), officially launched the token ApeCoin (APE), which will be distributed to BAYC/MAYC members through the claim page . The APE issuer is and is operated by the entity ApeCoin DAO, and each token holder can vote on the governance and use of the ecosystem fund.

Bored Ape Yacht Club (BAYC) is one of the well-known NFT collectibles that has previously attracted the attention of auction houses such as Christie’s. In addition, NBA star Stephen Curry also bought Bored Apes for 55 ETH, about $180,000, and replaced his Twitter avatar with a monkey image. Then came the Mutants Apes. Previously, the Bored Apes Yacht Club (BAYC) held a public sale of Mutants Apes, netting more than $90 million worth of ETH in the process of less than an hour.

With the launch of the token APE, the floor price of Bored Ape Yacht Club (BAYC) rose to 105ETH, and the 24-hour trading volume increased by 440.42%. Previously, the floor price of BAYC was the highest at 118ETH. In addition, the floor price of Mutant Ape Yacht Club rose to 22.29ETH, and the 24-hour trading volume increased by 345.85%.

Regarding the distribution of this token APE, the official pointed out that in order to ensure the fair launch of ApeCoin to BAYC and MAYC NFT holders, the distribution is notified based on the difference in the base price between each NFT set, approximately one day before the launch of the token announcement. month (02/07/22 to 03/08/22). Each Boring Ape or Mutant Ape NFT that owns the Boring Ape Kennel Club NFT will be able to claim the specified amount of ApeCoin.


Note: Airdrop claim tokens associated with any NFT can only be claimed once. Once the claim period begins, it will be possible to check whether a BAYC, MAYC (or BAYC or MAYC with a companion BAKC) has claimed its tokens.

ApeCoin’s official Twitter notes that ApeCoin (APE) is owned and operated by ApeCoin DAO, a decentralized organization where each token holder can vote on the governance and use of the ecosystem fund. Holding ApeCoin is the only requirement for ApeCoin DAO members. The DAO is supported by the Ape Foundation, which was created to act as the legal steward of ApeCoin and manage decisions made by the ApeCoin DAO community.

The total supply of ApeCoin is permanently fixed at 1 billion tokens, 62% of the total supply is allocated to the ApeCoin community, a portion of which (15% of the total supply) starts on March 17, 2022 at 8:30AM ET receive. 16% goes to charity, 14% goes to contributors who started the project, and 8% goes to BAYC founders.

Notably, for others who want to join, ApeCoin states that it will be available to everyone and is expected to begin trading on major cryptocurrency exchanges as soon as possible, with a notification to be posted at that time.

It is worth mentioning that on March 12, Yuga Labs (the parent company of BAYC) also acquired the intellectual property IP of CryptoPunks and Meebits NFT collectibles from Larva Labs. This means that it owns the brand, artistic rights and other intellectual property rights of the two NFT series as well as 423 CryptoPunks and 1,711 Meebits.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/yuga-labs-the-parent-company-of-the-boring-ape-officially-launched-the-token-ape-today/
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