If owning a rugged Ape Yacht Club (BAYC) irreplaceable asset wasn’t enough, a new token has been launched for holders of the popular collection.
The March 16 launch announcement of APE Coin was not made by the makers of the BAYC Collection, Yuga Labs, but by its own AppCoin DAO for decentralization purposes.
The latest token to join the 13,217 already listed on CoinGecko is “used to empower a decentralized community building for culture, gaming and commerce.”
The ERC-20 token will apparently act as a governance token for the ApeCoin DAO which aims to expand the ape ecosystem.
epping in DAO
The ApeCoin DAO stated that 62% of the total supply of APE will be allocated to the ApeCoin community which includes NFT holders. A part of this, 15% of the total supply will be available for claiming on 17th March. BAYC holders can claim 10,094 APE per NFT, while holders of Mutant Collection MAYC will be able to claim 2,042 tokens per NFT.
16% of the total supply of one billion tokens will go to Era Labs and charitable efforts. 14% will go to launch founders while the remaining 8% will go to BAYC founders.
Yuga Labs will adopt AppCoin as “the primary token for all new products and services.” This will include a blockchain game that it plans to launch later this year.
Ape Foundation’s board members include Alexis Ohanian, co-founder of Reddit, Amy Wu, head of enterprise and gaming at FTX, and Yat Siu, co-founder and president of Animoca Brands.
Coinbase was the first exchange to embrace apes. announced A listing under “Experimental Property Labels” dated March 17. This special category is for low-liquidity assets which the company advises to be careful in trading them.
Earlier this month, an NFT platform made an offer to four elusive apes worth $1.3 million.
BAYC NFT sales toppers
According to Cryptoslam, BAYC has been the best-selling NFT collection in the past 30 days with a sales volume of $113.7 million. $49 million in sales in the past week as the app fever shows no sign of abating.
The second most popular NFT collection in terms of weekly sales volume is Sibling Mutant Ape Yacht Club (MAYC), which has transferred $40 million for the period.