{"id":21240,"date":"2022-03-18T08:36:09","date_gmt":"2022-03-18T07:36:09","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=21240"},"modified":"2022-03-18T10:01:18","modified_gmt":"2022-03-18T09:01:18","slug":"apecoin-soars-to-40-dollars-in-24-hours","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/apecoin-soars-to-40-dollars-in-24-hours\/","title":{"rendered":"ApeCoin: Bored Ape Yatch Club’s Ethereum based (APE) Token hits $40 after just one day"},"content":{"rendered":"\n
ApeCoin (APE), the Ethereum-based cryptocurrency for the burgeoning Bored Ape Yacht Club ecosystem is currently flowing after being publicly introduced just two days ago<\/a>.<\/h5>\n\n\n\n
\"ApeCoin:<\/figure>\n\n\n\n

The ApeCoin has already soared to the $40 high mark in less than 48 hours after it's official launch.<\/p>\n\n\n\n

ApeCoin's price today sits somewhere around the $12.98 mark according to data from Coinmarketcap\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Owners of the Bored Ape Yacht Club NFT collection<\/a> can now claim the token, which will have utility, governance, and other possible benefits.<\/p>\n\n\n\n

93 million tokens have already been claimed by NFT holders<\/a> since the launch on Wednesday. That's almost $810 million in value.<\/p>\n\n\n\n

While current Bored Ape and Mutant Ape NFT holders<\/a> will gain the most at first because they will all receive a free cache of valuable tokens that they can sell, anyone can purchase APE on prominent exchanges. Why would you want to, though? <\/p>\n\n\n\n

Naturally, the APE team has plans for the token, which include unique games and services, according to the team behind it.<\/p>\n\n\n\n

If you're thinking about APE-ing into the buzzy token, here's a rundown of how ApeCoin works, who's eligible to claim a stash, and what ApeCoin DAO<\/a> has planned for the newly minted coin.<\/p>\n\n\n\n

What exactly is ApeCoin?<\/h2>\n\n\n\n

ApeCoin is a utility and governance token built on the Ethereum platform<\/a>. <\/p>\n\n\n\n

There are one billion of them in total, with CoinMarketCap indicating that around 28% are in circulation right now<\/use><\/svg><\/span><\/a>. <\/p>\n\n\n\n

Over the following few years, many of the entire number of tokens will vest gradually.<\/p>\n\n\n\n

While ApeCoin is ostensibly the official token of the Bored Ape Yacht Club and serves as a prize for owners of Bored Ape NFT collectibles<\/a>, the official line is that it was not created by Yuga Labs, the company that brought you the Bored Apes.<\/p>\n\n\n\n

Instead, it's the formal launch of ApeCoin<\/a> DAO, a new decentralized autonomous organization that will oversee the token's future development. <\/p>\n\n\n\n

According to tweets from Yuga employees and board members, a great deal of emphasis was placed on exact and consistent message, most likely for regulatory reasons.<\/p>\n\n\n\n

ApeCoin DAO has enlisted the help of several well-known members of the crypto industry to serve on its inaugural board, including Reddit co-founder Alexis Ohanian<\/a> and FTX's Amy Wu, who will serve for six months before APE holders vote for the next board members on an annual basis.<\/p>\n\n\n\n

Who is going to receive ApeCoin?<\/h2>\n\n\n\n
\nhttps:\/\/youtu.be\/E0X1f0oqeKU\n<\/div><\/figure>\n\n\n\n

You can get a specific quantity of free tokens from the official ApeCoin website if you have a Bored Ape Yacht Club or Mutant Ape Yacht Club NFT<\/a> in your wallet<\/a>. <\/p>\n\n\n\n

Each NFT<\/a> is given its own set of tokens, so if you have a lot of them, your token awards will stack.<\/p>\n\n\n\n

As of this writing, the 10,094 tokens are worth more than $80,000 in ApeCoin to original Bored Ape owners. <\/p>\n\n\n\n

The 2,042 tokens are currently worth almost $16,400 to Mutant Ape owners. <\/p>\n\n\n\n

You will not receive any tokens if you own a Bored Ape Kennel Club NFT on its own. <\/p>\n\n\n\n

If you have a Kennel Club NFT and a Bored or Mutant Ape, though, you will receive additional tokens for keeping the dog NFT.In all, 15% of the token supply will be distributed to NFT holders. <\/p>\n\n\n\n

The DAO treasury and resources will receive another 47 percent of the overall supply, with much of it vesting over the next 48 months.<\/p>\n\n\n\n

A further 15% will go to Yuga Labs, another 8% to Yuga Labs' four founders<\/a>, and the remaining 14 percent will go to other ApeCoin launch supporters. <\/p>\n\n\n\n

\n

\ud83d\udc47 Happening now on our Twitter Space\ud83d\udc47

Listen here: https:\/\/t.co\/teufNeq8GW<\/use><\/svg><\/span><\/a><\/p>— ApeCoin (@apecoin) March 18, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

Furthermore, 1% of the overall supply will be donated to the Jane Goodall Legacy Foundation, which will support genuine apes.<\/p>\n\n\n\n

The token is presently trading on a variety of cryptocurrency exchanges<\/a> for individuals who don't own a Bored Ape NFT and didn't help bring the Bored Apes or ApeCoin to reality. <\/p>\n\n\n\n

APE is listed on well-known exchanges like Coinbase<\/a>, FTX<\/a>, and Gemini<\/a>.<\/p>\n\n\n\n

What does APE stand for?<\/h2>\n\n\n\n

ApeCoin was created with usability and governance in mind. <\/p>\n\n\n\n

What exactly does that imply? <\/p>\n\n\n\n

It's a decentralized token that can be used for payments and transactions in any Web3 app<\/a>, even if it wasn't created or owned by Yuga Labs or has nothing to do with the Bored Ape Yacht Club<\/a>.<\/p>\n\n\n\n

ApeCoin holders will be able to vote on community-led proposals that will determine the token's future because it is managed by a DAO<\/a>. <\/p>\n\n\n\n

There are currently governance proposals in place for topics like ecosystem money allocation and staking rewards, for example. <\/p>\n\n\n\n

That may sound dry and boring to some, but it could have an impact on APE holders' future benefits.<\/p>\n\n\n\n

Animoca Brands<\/a>, a crypto game developer, has announced plans to integrate APE into a “secret project” it is working on with the Bored Ape Yacht Club. <\/p>\n\n\n\n

It appears to be connected to the recent development of a website (somethingisbrewing.xyz) that collects information from potential participants.<\/p>\n\n\n\n

\n

We\u2019re excited to announce we\u2019ll be adopting ApeCoin in a new play-to-earn game that\u2019s currently being developed by nWay and @BoredApeYC<\/use><\/svg><\/span><\/a>. https:\/\/t.co\/W4OVvhwUlR<\/use><\/svg><\/span><\/a><\/p>— nWayPlay (@nWayPlayNFT) March 16, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

Meanwhile, nWay has stated that APE will be used in a forthcoming play-to-earn game based on the Bored Ape Yacht Club, and APE will be used for token prizes in Animoca's unconnected Benji Bananas game<\/a>. <\/p>\n\n\n\n

Some future functionality, like as planned games and services, will be held only for APE holders, according to ApeCoin DAO.<\/p>\n\n\n\n

There's also the possibility of much more on the horizon. <\/p>\n\n\n\n

E11EVEN Residencies in Miami, for example, will take APE payments, and SaltWater Brewery in Florida has announced the same for its beer\u2014with a discount, no less.<\/p>\n\n\n\n

APE has the potential to be utilized by a wide range of businesses and initiatives as a decentralized token. <\/p>\n\n\n\n

And that is ApeCoin DAO's goal: the more beneficial it is, the more valuable it may become. <\/p>\n\n\n\n

With the Web3 sector still in its infancy, APE holders can only hope that it grows in popularity as a metaverse payment option<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

ApeCoin (APE), the Ethereum-based cryptocurrency for the burgeoning Bored Ape Yacht Club ecosystem is currently flowing after being publicly introduced just two days ago. The ApeCoin has already soared to the $40 high mark in less than 48 hours after it’s official launch. ApeCoin’s price today sits somewhere around the $12.98 mark according to data […]<\/p>\n","protected":false},"author":34,"featured_media":21244,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[8199,8198],"class_list":["post-21240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-apecoin-2","tag-bored-ape-yacht-club-nft"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/03\/image-129.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/21240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=21240"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/21240\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/21244"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=21240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=21240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=21240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}