The Rise Of ApeCoin: Why Investors Are Flocking To This Cryptocurrency

Bored Ape Yacht Club is a collection of NFTs released for presale on April 23, 2021. Apecoin, Bored Ape Yacht Club is created on the Ethereum blockchain and consists of algorithmically generated profile photos of humanoid apes. Owners of Bored Ape NFTs gain access to a private online club and intellectual property rights to their NFTs.

The project’s creators, Yuga Labs, have been working for some time to evolve the Bored Ape Yacht Club beyond a simple collection of NFTs by adding more items and services. In the long term, Yuga Labs wants to develop a true ecosystem for Bored Ape Yacht Club and other blockchain-based games and services. The most important component of this strategy is APE Coin (APE), which will enter the cryptocurrency market on March 17, 2022.

APE Coin (APE) is an ERC-20 token developed as part of the APE token project on the Ethereum network. The APE token is intended to be a governance and utility token for the Bored Ape Yacht Club ecosystem.

The ecosystem is governed by APECoin holders through a decentralized, autonomous organization, the APECoin DAO. APE holders are entitled to vote on the use of the APECoin DAO Ecosystem Fund within this system. The APE Foundation oversees the proposals approved by APE token holders.

APECoin also provides access to a number of unique ecosystem services such as blockchain-based games and events.

Who Are The Founders Of The APE Coin (APE) Project?

APECoin (APE) is a decentralized cryptocurrency inspired by Yuga Labs’ Bored Ape Yacht Club initiative.

APE Coin (APE) was developed by Yuga Labs with support from the APE Foundation for the growing Bored Ape Yacht Club ecosystem. Two individuals working under the pseudonyms Gargamel and Gordon Goner founded the Bored Ape Yacht Club initiative. In February 2022, it was revealed that their true identities are Greg Solano and Wylie Aronow.

Nicole Muniz is the executive director of Yuga Labs.

APE Token Stats

The total amount of APE Coin is 1 billion tokens. 62% of the funds are earmarked for ecosystem investments, 16% for Yuga Labs and its contributions, 14% for startup participants, and 8% for Bored Ape Yacht Club founders.

What’s So Great About The APECoin (APE) Project?

APECoin (APE) allows token holders and APE ecosystem management to participate in the APECoin DAO. 62% of the total APECoin supply is dedicated to funding the ecosystem that supports community projects selected by ApeCoin DAO members.

In addition, APE Coin (APE) provides access to future ecosystem services and games. APE token is a tool for third-party developers to participate in the ecosystem.

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