Is it too late to ape into Ape coin?
Bored Ape Yacht Club is a collection of 10,000 unique Bored Ape NFTs, a unique digital collectibles living on the Ethereum blockchain. For many months, BAYC has dominated the NFT space. Holding their top position in the market place.
Since their success, its been many celebrity’s profile pic of choice. This ain’t no monkey business!
Why the heck would anybody spend SO much money on these dumb/cool Jpegs?
It makes 0 sense…
Besides having a cool profile picture, the BAYC NFT also serves as a membership card! Granting access to members-only benefits:
- Merchandise
- Copyright licenses
- Airdrops
- Community
- Exclusive events and games
Ultimately its an exclusive social club.
Think of these NFTs as a status symbol, somewhat like a Rolex. It’s high priced, limited supply and has exclusive perks.
Now, what’s $APE coin?
$APE is the governance and utility token for the Bored Ape Yacht Club community. $APE holders get to vote on governance and use of the Ecosystem Fund on the APE coin DAO.
But what the heck is DAO???
DAO = Decentralized Autonomous Organization
It’s where an organization is represented by rules encoded on a smart contract. Members of the DAO are able to administer decisions, somewhat like shareholders of a company but with more transparency.
Since the launch of $APE, price has skyrocketed and is currently up over 80%!
If Jpeg monkeys don’t get you hyped up, the company behind BAYC, Yuga Labs acquired CryptoPunks and Meebits collections from Larva Labs.
Animoca Brands also announced that announce they will be adopting Ape coin in their upcoming projects like the game Benji Bananas, a P2E (Play to earn) game.
nWayPlay also announced that they will be integrating the Ape coin into their new P2E game!
Big things are brewing for the the Apes.
Would I buy the token now?
No…
With a $13B evaluation despite being backed by big brands and a strong community. I would wait for the hype to cool down before aping in.
There was a recent leak of the pitch decks, but so far the team came out to say that it was ‘outdated.’
According the the leak Yuga Labs, they plans to release 200k plots of BAYC LAND within their game-based metaverse MetaRPG!
Seems like their new world also will lead to a new currency from Yuga and more metaverse real-estates.
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