BAYC NFT Owners Receive ApeCoin NFTs

In a new environment of play-to-earn games of Animoca and Yuga Labs Brands, ApeCoin is going to be used as the main token and will be distributed between the owners of Bored Ape Yacht Club (BAYC).

The owners of BAYC non-fungible tokens (NFTs) which include celebrities such as Jimmy Fallon, Eminem, Mark Cuban, and Steph Curry will be given the latest token which is called ApeCoin (APE) as an incentive for becoming a part of an elite club of the digital asset.

The brand new token developer is ApeCoine which is the decentralized autonomous organization (DAO) and distinctly independent from Yuga Labs.

Bored Ape Yacht Club (BAYC) NFT owners would be able to receive around 10,000 ApeCoin each, but the upcoming one billion ApeCoin tokens will also be given out between the list of different groups.

According to the website of DAO ApeCoin, the eco-system fund will receive 62% of the total token supply, the founder of Yuga Labs will be receiving 8% tokens, BAYC creators will be holding 9.75% tokens, launch contributors will receive 14% of the NFTs, and 6.25% of the remaining tokens will be donated to a charity which preserves chimpanzees habitat known as Jane Goodall Foundation.

The company is going to fully adopt the ApeCoin as the main token for all its latest products and offered services coming out from Yuga Labs, whereas technically the token keeps itself independent from the Yuga Labs. As per the Yuga Labs confirmation, it will include the upcoming play-to-earn (P2E) game of blockchain which the team of Yuga Labs is planning to release during the year along with the nWay game developer.

ApeCoin would be used also in the soon-to-be-released P2E game called Benji Bananas, which is from blockchain gaming firm Animoca Brands based in Hong Kong and which owns nWay as well.

Yat Siu who is a board member of ApeCoin DAO and Animoca Brands co-founder informed the news media that ApeCoin is stepping up in the development of NFTs. ApeCoin is a token that represents the spirit of NFTs today. It is apparently the look of the present NFTs.

Siu also said that ApeCoin is going to develop into NFTs Dogecoin where communities create and value the utility.