What is apecoin (ape)?

ApeCoin, the Ethereum-based token built for the Bored Ape Yacht Club NFT ecosystem, launched to immense hype (and significant paydays for BAYC holders) in March. Now some of the project’s backers are set to reap over $115 million worth of APE tokens as a reward, leaving holders wondering how that unlock might impact the token’s price.

Is apecoin a good investment?

However, unlike Dogecoin or Shiba Inu, ApeCoin might actually provide some real utility and be here for the long haul. ApeCoin (APE) is an Ethereum -based token linked to the Bored Ape Yacht Club NFTs. Bored Ape Yacht Club NFTs are one of the most successful NFT projects to date.

Will apecoin be used by bored ape Yacht Club (bayc) NFT?

ApeCoin will be used by the Bored Ape Yacht Club (BAYC) NFT collection — one of the most valuable collections by market capitalization — as a token. BAYC by Yuga Labs quickly rose to fame after its launch in 2021, attracting attention from stars like Mark Cuban, Stephen Curry, Serena Williams, Eminem, Paris Hilton, and others.

Who can claim apecoin?

For the first 90 days of ApeCoin’s existence, anyone who holds some combination of NFTs from the Bored Ape Yacht Club and its two spin-off collections, the Mutant Ape Yacht Club and the Bored Ape Kennel Club, can claim a certain amount of APE from ApeCoin’s website.