Bored Ape Yacht Club (BAYC) has officially unveiled its ERC-20 tool and ApeCoin (APE) control token, which represents a diversification from personal photography projects (PFP) to “culture, games and commerce” in the Web3 domain.
The assets were developed and launched by the Decentralized Independent Organization ApeCoin (DAO), a prominent division of Yuga Labs, which created a six-month board of directors consisting of Alexis Ohanian, Amy Wu, Maariya Bajwa, Yat Siu, and Dean Steinbeck to oversee the development of the DAO.
The official ApeCoin Twitter account on Thursday stated that members of the BAYC ecosystem will be given a 90-day opportunity to claim 10,000 tokens from Thursday at 12:30 UTC.
A number of well-known exchanges such as Binance US, FTX, Gemini and OKX, among others, have already pledged to list and allow public trading of the asset on their platforms.
Others, however, have taken advantage of the market euphoria by launching similar tokens such as APECoin.dev. The project in question has a combined market value of over $1.5 million and a price of $0.145. In response, CoinMarketCap posted a red warning flag on the page stating that the token is not associated with the official BAYC project and cannot be interacted with.
Related Topics: Bored Monkey NFT Holders Get ApeCoin – “Dogecoin from NFT”
Cointelegraph spoke to Insight, a bored monkey keeper and NFT (Non-fungible Token) journalist, for an expert assessment of community expectations for the release.
He said: “This atmospheric drop will no doubt be unique, but historically we’ve seen these airdrops get thrown into space and slowly erupt as the engagement wears off. However, given BAYC’s momentum and its position as the #1 group in the NFT region, I think things could have been different. “.
“I don’t think we’re going to see the emotional connection that the owners have with the monkey NFTs themselves, but either way, it’s great for both the monkey owners and the room as a whole.”
As a result of the asset launch, the average price of the BAYC group has risen significantly over the past seven days from 76.11 Ether (ETH) last Friday on a total volume of 913 ETH to an average price of 110.15 ETH and a volume of 9,583 ETH in the hours leading up to the launch on Thursday . .
In line with the parallel trend, the floor also experienced a surge of growth and then plummeted at the launch of ApeCoin from around 108.69 ETH to 78 ETH at the time of writing.
In addition, the Mutant Ape Yacht Club and Bored Ape Kennel Club inline kit minimum prices have fluctuated significantly and are currently 15.85 and 5.8 ETH, respectively.