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March 17, 2022 Coin Telegraph

apecoin

The BAYC native asset is claimable for a 90-day window, with each holder receiving 10,000 ApeCoins.

The Bored Ape Yacht Club (BAYC) has officially revealed their ERC-20 utility and governance token ApeCoin (APE), marking a diversification from profile-picture projects (PFPs) into "culture, gaming and commerce" within the Web3 sphere.

The asset has been developed and launched by the ApeCoin decentralized autonomous organization (DAO), a distinguished entity from Yuga Labs, who have established a six-month tenured council committee comprising of Alexis Ohanian, Amy Wu, Maaria Bajwa, Yat Siu and Dean Steinbeck, to oversee the DAO development.

ApeCoin's official Twitter account stated Thursday that the members of the BAYC ecosystem will be granted a 90-day window of opportunity to claim their allocation of 10,000 tokens commencing March 17 at 12:30 pm UTC.

Token claim is now open. If you own a BAYC Ecosystem NFT, go here: https://t.co/NLOB0m4cqf Reminder: the claim period will be open for 90 days, and tokens associated with an NFT can only be claimed once.
— ApeCoin (@apecoin) March 17, 2022

A number of prominent exchanges such as Binance US, FTX, Gemini and OKX, among others have already pledged to list, and enable public trading of the asset on their platforms.

Despite this, others have profited from the market euphoria with the launch of similarly named tokens like APECoin.dev. The project in question has amassed a market capitalization of over $1.5 million with a price of $0.145. In response, CoinMarketCap has published a red warning tag on the page advising that the token is not affiliated with the official BAYC project, and should not be interacted with.

Cointelegraph spoke to Insight, a Bored Ape holder and NFT journalist, for an expert perspective on the community’s expectations for the release.

“This airdrop will be unprecedented there is no doubt”, he stated, “but historically in the space, we have watched these airdrops pump and slowly fizzle out as the engagement dissipates. That being said, with the momentum of BAYC and their positioning in the NFT space as the number 1 collection, I believe things may be different.”

“I don’t think we will see the emotional attachment that holders have for the ape NFTs themselves, but either way this is HUGE for both ape holders and the space as a whole.”

As a consequence of the asset's launch, the average price of the BAYC collection rose significantly across the last seven days from 76.11 ETH on March 11 with a total volume of 913 ETH, to an average price of 110.15 ETH and a volume of 9,583 ETH in the hours preceding launch on March 17.

In a parallel trend, the floor price also witnessed a growth spurt, before falling sharply upon the ApeCoin launch from around 108.69 ETH to 78 ETH at the time of writing.

Additionally, the floor price of the accompanying collections Mutant Ape Yacht Club, and Bored Ape Kennel Club has experienced major fluctuations, currently sitting at 15.85ETH and 5.8ETH, respectively.

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101 Bored Apes NFT auction at Sotheby’s closes at more than $24M

September 10, 2021 Coin Telegraph

<div>101 Bored Apes NFT auction at Sotheby's closes at more than M</div>

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Yuga Labs auctioned off collections of Bored Ape Yacht Club and Bored Ape Kennel Club NFT that generated $24 million and $1.83 million respectively.

The auction of Yuga Labs’ 101 Bored Ape Yacht Club (BAYC) collection has smashed through expectations with a winning bid of $24.39 million.

The auction closed on Sept.10 and was hosted by the prestigious auction house Sotheby’s which had earlier estimated the collection would fetch between $12 million and $18 million.

The bundle of non-fungibles consists of 101 Bored Apes and three M1 and three M2 “Mutant serum” NFTs. When a Bored Ape token is combined with an M1 or M2 serum, it enables the holder to mint a new Mutant Ape NFT that keeps the same traits of the original Bored Ape but depicts it in a mutant format.

Taking the serum NFTs out of the equation as they are usually airdropped for free to holders, each Bored Ape in the collection was valued at an average price of roughly $241,000 or 69.4 Ether (ETH) at the time of publication.

The figure tallies in well above the floor price for Bored Ape NFTs on the secondary market, with data from OpenSea showing a minimum price of 38.99 ETH, worth around $135,000.

What an historic moment for the club: the @Sothebys auction of 101 Bored Apes has closed at over $24m. Congratulations and THANK YOU to the whole ape community. To the buyer, I think we speak for everybody when we say: WELCOME TO THE CLUB. ☠️⛵️ pic.twitter.com/NKxHekC0ny
— Bored Ape Yacht Club (@BoredApeYC) September 9, 2021

Yuga Labs also auctioned off a 101 NFT collection of its side project Bored Ape Kennel Club that closed on the same day with a winning bid of $1.83 million, at a price of $18,150 per NFT. The figure fell within Sotheby’s estimate of $1.5 million to $2 million, and beat the floor price on OpenSea of 3.09 ETH or $10.700.

Delaware-based Yuga Labs launched the BAYC on April 30, and it has since become a highly popular and sought-after project. Figures such as NBA star Steph Curry aped in by paying 55 ETH ($191,000) for a Bored Ape NFT late last month. M etaverse gaming firm The Sandbox also snapped up a Bored Ape for a record price of 740 ETH ($2.57 million) on Sept. 6.

Sandbox’s NFT depicts a golden ape with laser eyes wearing a sea captain’s hat. In a Sept. 8 blog post the firm revealed plans to port BAYC NFTs into its metaverse as playable avatars.

“The Avatar collections find additional utility for their NFT holders within our gaming virtual world. Through the interoperability of NFTs, they will be able to turn 2D collectible image NFTs into 3D playable avatars that are animated, can run, jump, socialize, play games, and interact with their other peer Avatars in The Sandbox,” the blog post read.

*Bored Ape NFT 3749 Avatar: (Source: The Sandbox)*

According to data from OpenSea, NFT sales volume on the secondary market cooled down in September, with top projects such as CryptoPunks, Art Blocks and BAYC all seeing declines in seven-day volume of 85%, 82% and 69% respectively.

Only one NFT project out of the top 20 has seen an increase in seven-day volume, with Vine co-founder Dom Hofmann’s Loot (for Adventures) NFTs seeing an increase of 8.42%.

Data from Dune Analytics also shows that NFT floor prices are on a downward trend of late, dropping from 1.02 ETH on Aug. 30 to sit at around 0.40 ETH on Sept. 9. However, this doesn’t necessarily indicate a bearish trend for the NFT sector, as the price can be impacted by new projects emerging on the market that sell for lower prices.

Bored Ape Kennel Club

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