- According to Yat Siu, NFTs are moving in the right direction with ApeCoin.
- More than six out of every ten ApeCoins will be allocated to an ecosystem fund.
New ApeCoin (APE) tokens will be given to holders of Bored Ape Yacht Club (BAYC) NFTs – including celebrities like Eminem, Steph Curry, Jimmy Fallon, and Mark Cuban — for being part of the elite digital asset club. The ApeCoin DAO is the creator of the new token, which is distinct from Yuga Labs. In addition to the 10,000 ApeCoin, each BAYC NFT owner may claim several other parties will get the 1 billion ApeCoin tokens delivered shortly.
More than six out of every ten ApeCoins will be allocated to an “ecosystem fund,” while the remaining fourteen percent will be donated to “launch contributors.” Some 9.75 percent will be kept by the designers of BAYC and Yuga Lab; 8% will go directly to Yuga Lab founders; and 6.25 percent will be contributed to Jane Goodall Foundation, which works to protect chimpanzee habitats.
Yuga Labs will use ApeCoin as the “primary token for all new products and services,” even though that token is technically different from Yuga Labs. For example, according to the company, the Yuga Labs team hopes to introduce a play-to-earn blockchain game alongside game developer nWay later this year.
Benji Bananas, a play-to-earn game from Hong Kong-based blockchain gaming business Animoca Brands, owns nWay, will also use ApeCoin. According to Yat Siu, the co-founder of Animoca Brands and an ApeCoin DAO board member, NFTs are moving in the right direction with ApeCoin.