Yuga Labs continues its mission to expand the Bored Ape Yacht Club NFT series. And announces cryptocurrency ApeCoin, which will be the company’s “primary token for all new products and services”. These include a play-to-earn blockchain game that is expected to be launched later this year in collaboration with developer nWay. So let’s find out what it is about in detail.
Yuga Labs Expands Bored Ape Yacht Club Series With Crypto ApeCoin
Yuga Labs launches ApeCoin cryptocurrency, which will initially be used as game currency, and then perhaps expanded beyond the company’s stocks as well. Starting tomorrow, for example, it will be supported in Benji Bananas, a game by Animoca Brands. But the hope is that crypto can be used as a digital currency more generally. And to make this possible, ApeCoin was created as if it were independent of Yuga Labsand will then be controlled by a side organization called ApeCoin DAO. This will be financed by the sales of ApeCoin, and will answer the parent company Ape Foundation for any decisions.
As far as we know, the DAO plans to spend a portion of the revenues on building an ecosystem around the coin. Clearly, this will include financing the development of games and events, as well as the production of merchandise. But among the various activities on the calendar there will also be the launch of a decentralized NFT market. In short, an important investment for the company that owns the Bored Ape Yacht Club, considered the largest entity in the world of digital collectibles. Indeed, Yuga Labs is now in talks for a multi-million dollar investment, and just last week it acquired two of the other biggest names in the industry – CryptoPunks and Meebits – to expand its portfolio. This means that there will be big news on the way. Let’s wait to see which ones.