BAYC and ApeCoin
The Bored Ape Yacht Club (BAYC) was launched in April 2021. It features 10,000 unique Apes residing on the Ethereum blockchain. These fantastic digital collectibles feature a different look, style, and rarity. In addition, the collection showcases algorithmically generated profile pictures of cartoon apes.
The allocation of funds, structuring of rules, partnership selection, and other governance issues are all decided by APE token holders who vote collectively. The ApeCoin Foundation implements the community’s governance decisions.
They assist in developing the ecosystem as the DAO’s legal representative. The Board, a unique entity within the Foundation, carries out the community’s goals. Five members of the technology and cryptocurrency communities make up the APE Board. Every year, ApeCoin owners vote to elect new directors.
Uses of ApeCoin
Since ApeCoin is a ubiquitous ERC-20 token, it is technically acceptable by most merchants. Holders of the BAYC get free APE that they can immediately redeem, and the currency is already being used as NFT prizes.
Third-party developers use ApeCoin to enter the ecosystem and integrate it into their apps, games, and other projects. The coin is used as an incentive for players in Animoca Brands’ Benji Bananas, a play-to-earn (P2E) mobile game, for example. They can get unique ApeCoin coins and exchange them for other coins by playing.
APE coins will be earned for all future games in the APE ecosystem, just as Axie Infinity players earn tokens in tactical arenas. After that, Yuga Labs will have to forge agreements with other firms to incorporate their currency and create their own Otherside experience.
Holders of ApeCoin have exclusive access to special offers, social gatherings, and coming services and games. In addition, Yuga Labs has worked with a variety of other NFT initiatives to this point, such as CryptoPunks, Meebits, Cryptoadz, World of Women, and CoolCats.
With ApeCoin set to be a highly sought-after metaverse coin this year, it will be integrated with the yet-to-be-launched metaverse Otherside. ApeCoin will become a metaverse marketplace transaction token as a result of this. In addition, the Metaverse might also be used to reward players if it includes P2E features.
Currently, ApeCoin is running $7.29 with a market cap of $2,271,376,932. The 24 Hour trading volume is at $235,683,545 with a circulatory supply of 306,875,000.
Is ApeCoin a Good Investment?
YES. ApeCoin is a digital asset that should be considered for investments due to its possibilities in this saturated market. ApeCoin is a cryptocurrency that may be one of the smartest investments you’ve ever made. The ApeCoin ecosystem is one of the most significant selling points for the currency. More developers are joining ApeCoin, contributing new and noteworthy metaverse protocols and applications that will benefit the whole ecosystem.
ApeCoin’s success in a thriving ecosystem may see a rise in the price of APE if it comes to fruition. While this is just one of the reasons to purchase ApeCoin, it is one that early investors should consider. Today, the daily trading volume for the token continues to be strong.
