Bored Ape Yacht Club’s (BAYC) floor price surged to 106.5 ETH since the launch of ApeCoin, while its spin-off collection Mutant Ape Yacht Club’s (MAYC) floor price rose to 23.65 ETH at press time.

See related article: Bored Ape Yacht Club teams up with Animoca Brands to develop play-to-earn game

Fast facts

• The ApeCoin launch comes days after Yuga Labs acquired the IP rights to CryptoPunks and Meebits, but the BAYC creator is not behind the new token. 

• ApeCoin is an ERC-20 governance and utility token which can be claimed by holders of BAYC and MAYC non-fungible tokens (NFTs), and is developed by the APE Foundation and ApeCoin DAO. 

• ApeCoin claims that it will be used for gaming, culture and commerce.
• In less than 24 hours since the announcement, Animoca Brands’ play-to-earn (P2E) game Benji Bananas adopted the token.
• NFT marketplace nWayPlay also announced that it is developing a (P2E) game in collaboration with BAYC.

See related article: Metaverse NFT projects boom as Meta ignores blockchain

Source: https://forkast.news/headlines/bayc-floor-price-eth-apecoin-launch/