Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Seeking Alpha 2022-09-26 18:01:24

ApeCoin: More Than A Meme Coin

SummaryApeCoin was launched by Yuga Labs back in March.APE has rallied strongly in the last month following some interesting proposals.I believe APE can offer value to its community and the NFT space, making it more than a meme coin.OverviewThe Bored Ape Yacht Club ("BAYC") is a collection of 10,000 unique ape-themed NFTs, minted on Ethereum.BAYC has gained a cult-like following; some prominent music, soccer and movie stars own an NFT from the BAYC collection. Yuga Labs, the Miami-based Web3 developers who created BAYC are also creators or owners of other popular NFT collections and Web3 projects including CryptoPunks (acquired from Larva Labs), Mutant Ape Yacht Club ("MAYC"), and a metaverse platform called Otherside. Yuga Labs is rapidly evolving from an NFT collection creator into a full-fledged Web3 ecosystem developer. Yuga Labs' Web3 ecosystem is called the Yugaverse.In March 2022, Yuga Labs raised $450 million in a funding round led by Andreessen Horowitz ("a16z"), a venture capital firm based in Silicon Valley, California.Yuga Labs launched ApeCoin (APE-USD) to power the growing Yugaverse ecosystem. On the Yuga Labs official website, Yuga Labs states that it will be using ApeCoin as the primary token in all Yuga Labs projects.The Meme Coin of NFTsIn March 2022, owners of NFT from the BAYC collection were airdropped approximately 10,000 APE each, while MAYC owners were airdropped approximately 2000 APE each. At launch, ...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.