Crypto and culture intersecting: Could ApeCoin be the go-to token of the Metaverse?
2022.04.05 23:42
Crypto and culture intersecting: Could ApeCoin be the go-to token of the Metaverse?
What is it with these sly, funny, but boring-looking apes that continue to make headlines? Many collectors argue that it’s less about the image, itself, and more about the culture, social capital and wealth the community of owners has gained from Bored Ape Yacht Club (BAYC) that give the collection its value. Amassing over $1.42 billion in total volume, the community trusted that the creators would deliver on its promise for token emission.
On March 17, BAYC’s utility and governance token, ApeCoin (APE) was made eligible to claim for BAYC and Mutant Ape Yacht Club (MAYC) holders. According to data, nearly 99% of eligible wallets have already claimed their share and over 132 million tokens, valued at $1.8 billion, have been claimed.
AIP- 5 Incentive Distribution. Source: ApeCoinAPE/USDT 4-hour chart. Source: TradingView
