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Payment can also be made in ApeCoin on the NFT marketplace OpenSea

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HIGHLIGHTS :

  • ApeCoin is among the top 30 cryptocurrencies by market value
  • It is created by ApeCoin DAO
  • This is the main token of BAYC

Yuga Labs is allocated a part of ApeCoin tokens but this token is not linked to Yuga Labs as it is created by ApeCoin DAO

ApeCoin is among the top 30 cryptocurrencies by market value

Popular non-fungible token (NFT) marketplace OpenSea has started accepting ApeCoin as a method of payment. ApeCoin, the flagship token of the NFT collection Bored Ape Yacht Club (BAYC), is also needed in the Metaverse Gaming Experience Otherside. This token of the Ethereum blockchain allows users to transact through Web 3 apps. These apps are not limited to the apps of Yuga Labs, a firm affiliated with BAYC.

It is created by ApeCoin DAO

According to CoinMarketCap, ApeCoin is among the top 30 cryptocurrencies with the highest market value. The list of payments on OpenSea previously included Ether, Wrapped Ether, Solana, USDC and Dai. Recently, Yuga Labs received about $320 million from the sale of Digital Land on the Metaverse. The Otherside Digital area of ​​Yuga Labs is yet to be launched but buyers are keen to buy land on it. The Blocks of Land issued as NFTs, called Otherdeeds, have been sold by Yuga Labs for a price of 305 ApeCoin, which is valued at approximately $5,800.

Launched a few months ago, ApeCoin has grown in popularity. Yuga Labs is allocated a part of ApeCoin tokens but this token is not linked to Yuga Labs as it is created by ApeCoin DAO. ApeCoin DAO helps its community design blockchain games and create physical and virtual merchandise.

This is the main token of BAYC

Some believe that Yuga Labs’ decision to separate from ApeCoin is a step towards decentralisation, while others believe that Yuga Labs has distanced itself from the SEC’s regulatory strictures. ApeCoin and DAO have no direct affiliation with Yuga Labs and its BAYC but are still linked and that is why BAYC NFT holders get free ApeCoin and it is the main token of BAYC. The team that created ApeCoin believes that it is a meme coin. Along with this, it is also trying to prepare a system related to it. Services using this coin will include the MonkeyFirm NFT platform, a decentralized exchange, and gaming projects.

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