Popular NFT collection Bored Ape Yacht Club announced the launch of a token for the ecosystem, ApeCoin (APE). The cryptocurrency is an ERC-20 governance and utility token, owned and operated by ApeCoin DAO. As announced, it is the official currency of the BAYC ecosystem to allow the community to build blockchain games and services, host events in the metaverse, create products, and much more.
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ApeCoin ($APE) is now a reality, and it’s owned and operated by the community, aka ApeCoin DAO. Holding ApeCoin is the only requirement for membership in the DAO.
— Bored Ape Yacht Club (@BoredApeYC) March 16, 2022
APE will be also used in the PLay-to-Earn game, which the company plans to release later this year partnering with the developer nWay. Game software company Animoca Brands announced it will adopt APE for a secret project they have been developing with BAYC.
The total supply of ApeCoin is fixed at 1 bln tokens. 62% of this number is allocated to the ApeCoin community, a portion of which (15%) is set to be available during an airdrop starting on March 18 at 8:30 am ET. The airdrop will be available to holders of Bored Apes, Mutant Apes, and Bored Ape Kennel Club dogs paired with BAYC or MAYC.
The team informs ApeCoin will become available on crypto exchanges soon.