After announcing the imminent launch of the digital currency ApeCoin… a record rise in the price of BAYC NFT
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Answer After announcing the imminent launch of the digital currency ApeCoin… a record rise in the price of BAYC NFT
The team behind the “Bored Ape Yacht Club” non-fungible token chain has outlined plans to launch a new digital currency called “ApeCoin” that will be distributed to BAYC NFT owners and holders.
Shortly after the announcement, the minimum price for BAYC NFT rose to over 100 ETH or around $275,000.
The digital currency ApeCoin (APE) was announced yesterday, and the team described it as a digital currency for culture, gaming and commerce, which can be used to enable the building of a decentralized community at the forefront of Web 3.0.
The launch of the new digital currency will be accompanied by a decentralized organization called “ApeCoin DAO”, and each holder of it will be able to vote on the management and use of the ecosystem fund.Read:A huge rise in the number of jobs in the field of blockchain and cryptocurrency in Asia
He told the team that APE Coin will be the only requirement for membership in the ApeCoin DAO.
BAYC NFT holders, some of which feature notable names such as “Neymar” and “Eminem,” will receive a certain portion of the total supply of the new digital currency in the form of free distribution (airdrop).
With the expected launch of the coin growing soon, investors rushed to buy BAYC NFT to receive the new digital currency.
Consequently, the demand for it increased, which was reflected in the price.
According to CoinGecko, the BAYC NFT minimum price went from 92 ETH to approximately 107 ETH in just one day.Read:Coinbase gets FSA approval to enter the Japanese crypto market
From a dollar perspective, this means that the minimum price for BAYC NFT is now close to $300,000.
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