NEW APECOIN? Blockchain, Crypto, and NFT

*Photo credit source: screenshot from apecoin.com

A fast — paced month for Bored Ape Yacht Club’s creators, Yuga Labs. After purchasing Larva Labs’ CryptoPunks and Meebits projects in recent days, they are returning with a new token ‘ApeCoin’. Apecoin is a cryptocurrency designed for the web3 economy.

ApeCoin will be administered by a new decentralized autonomous organization (DAO). The token will be managed by ApeCoin DAO, a community-controlled entity. The decentralized autonomous organization (DAO) will be financed by ApeCoin sales of 1 billion coins will be made accessible and will be governed by members, with each token granting one vote. Additionally, a corporate parent, the Ape Foundation, has been established to carry out DAO decisions. Among the Foundation’s board members are Alexis Ohanian and the co-founder of Animoca Brands.

ApeCoin will be distributed to bored Ape NFT holders

Yuga Labs and Animoca Brands are developing a new ecosystem of play-to-earn games that will use ApeCoin as the “primary token.”

62% of ApeCoin’s total supply will go to an ecosystem fund, 14% will be given out to “launch donors,” and 5% will be given out to “miners.” The designers of BAYC, Yuga Labs, will retain 9.75% of tokens; Yuga Labs founders will receive 8% of tokens; and the Jane Goodall Foundation, a charity dedicated to safeguarding chimpanzee habitats, would receive the remaining 6.25%.

The DAO plans to offer physical goods as well as virtual commodities, like as jewelry, books, apparel, and drinks, by registering a trademark for the token.

*Photo credit source: ALT10-USD on TradingView.com

The top ten altcoins have been doing very well in lately. ApeCoin (APE) is about to become a new cryptocurrency that is sure to get the attention of many traders. The price of ApeCoin has risen by 1,537.19% in the past 7 days. ApeCoin’s price has increased by 1,537.19% in the last seven days. In the previous 24 hours, the price has climbed by 1,390.49%. The price has decreased by 12.74% in the last hour alone. The current price of an APE is SGD 19.692921. ApeCoin is now trading at a 51.60% below to its all-time high of SGD 40.69.

Is the new Apecoin having a significant impact on the Cryptocurrency and NFT markets?

Sources:

TheVerge, Cointelegraph, Coindesk, Bitcoinist, Coinbase

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IWS FinTech

IWS FinTech

IWS consults on and develops disruptive technologies such as FinTech or Blockchain (project management/product).