The creators of the Bored Ape Yacht Club have launched their own token, ApeCoin

Yuga Labs, the minds behind creating the well known Bored Ape Yacht Club and the Mutant Ape Yacht Club, now has its own token called ApeCoin. ApeCoin is a ERC-20 token that launched this month as the financial reward for members of the BAYC. It will be the main token in their ecosystem. The company plans to use it as a utility token from games to commerce.

BAYC rewards keep coming :

BAYC members get exclusive merchandise, airdrops of SERUM that created another valuable NFT, and now free ApeCoin, which has a market cap of $3.7 billion just few days after it started trading in the market.

Last week on Friday, Yuga Labs dropped a short animated teaser video, looks like a game, that shows Bored Apes, Mutant Apes, CryptoPunks and CrypToads NFTs hanging out in space. All of this is sure to make the prices of those NFTs go up.

Is BAYC NFTs are overrated?

Some think NFTs are fascinating and will have good use cases, including uses which we can’t predict.

But people also tend to blame BAYC for most of the NFT vitriol out there. Many believe that we could see an overt split between different camps of crypto. Putting aside Bitcoin maximalists, right now everything happening in crypto all falls under the banner of crypto: Buying coins, NFT collecting, meta-verse real estate etc.

As the NFT space grows and it becomes impossible to ignore it, the people turned off by some of it are going to get even more turned off, and that group might expand to include people who were early to crypto and believe in the tech, but want nothing to do with the Ape takeover.

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