ApeCoin price rebound continues as its creator raises $450M from big VCs.
, via an"airdrop" backed by Yuga Labs, the creator of the Bored Ape Yacht Club , a collection of nonfungible tokens popular among celebrities, sportsman, and venture capitalists alike for its so-called status symbol.150 million APE — out of the total 1 billion created — among the owners of the Bored Ape NFTs, with each getting 10,904 tokens, worth over $158,000 as of Thursday, for"free.
Meanwhile, owners of rarest BAYC NFTs, the"Mutant Apes," received 2,042 APE, which costs around $30,000 as of today's price. The firm projects APE as a governance and utility token to allow its holders to oversee and manage the so-called ApeCoin DAO, a decentralized autonomous organization. As a result, holding an APE gives users the right to vote on decisions proposed within the BAYC ecosystem.
"It will serve as a decentralized protocol layer for community-led initiatives that drive culture forward into the metaverse," reads anThe ApeCcoin community has issued 5 proposals, including the DAO structure; the voting process; the allocation of the ecological budget; the rules for staking and the allocation of staking pool. More than half of the budget goes to the game development.
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