ApeCoin is an Ethereum-based cryptocurrency that is a part of the APE ecosystem. APE ecosystem, in turn, is a number of projects associated with the Yuga Labs company. Yuga Labs aims to build web3 and deals with the following NFT projects: the most expensive NFT collection Bored Ape Yacht Club (BAYC); Mutant Ape Yacht Club (MAYC) collection and Bored Ape Kennel Club (BAKC) collection. Recently Yuga Labs also acquired CryptoPunks and Meebits, another prominent NFT projects. All of these are the organizations that facilitate profitable and popular NFT market.
ApeCoin serves as a governance and utility token across the whole ecosystem. As the ecosystem is just developing now, the token has not much of use, yet it gives a lot of opportunities for the future. The roadmap of the APE project promises to create plenty of special features for the token holders.
The token was initially distributed within the framework of an airdrop. This airdrop was highly anticipated in both NFT and crypto communities, as the Bored Ape Yacht Club is already a strong and recognizable name in the industry. At the same time Yuga Labs tries to keep distance from the ApeCoin cryptocurrency and give it more independence in the future.
The token APE was launched on the 17th of March 2022 and has skyrocketed both in price and popularity since then. It was immediately launched on the major exchanges and got worldwide attention.
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Our congratulations, now you own APE tokens!