Bored Ape Yacht Club: Web3 Breakdowns Research

Apecoin’s launch was more or less like a start-up IPOing: preexisting holders of Bored Ape Yacht Club NFTs could claim a certain amount of the currency for themselves, for free just because they have an ape. That currency immediately had value. 

But — laughing out loud — Apecoin crucially has nothing to do with these transactions. It is just a fictional currency made by the same company. It’s likely that the value of $APE will go up in times when there is more general demand for or awareness of BAYC. The coin will be the “primary token for the BAYC ecosystem, as well as future Yuga product... See more