The high NFT hype is mind blowing. There has been a commotion on Twitter
In October 2021, the Bored Ape Yacht Club team confirmed the issuance of the $APE coin by the first quarter of 2022. So when NFT Breezy.eth jokingly tweeted that the coin would drop on February 30, the community went crazy. Most didn’t even catch the humor until they checked their calendars.
At the time of publishing, the viral tweet had over 2,000 likes. The excitement only proves that collectors and enthusiasts are looking forward to more utility from the top level NFT project.
BAYC is a billion dollar NFT ecosystem with a total trading volume of 398,300 ETH or about $1.084 billion on OpenSea. Therefore, the team behind the sensational collection is confident that issuing its own token is a natural progression.
The community is actively thinking about the tokenomics and utility of the $APE coin. NFT holders are happy to confirm that they can redeem free tokens. The non-owners hope that the tokens will become a way to join the project without owning the Bored Ape NFT, just like governance tokens in game projects and DAOs.
