Dogecoin cofounder says BAYC’s ApeCoin harms the NFT segment

Dogecoin (DOGE) cofounder Billy Markus has said that ApeCoin (APE), the token tied to the Bored Ape Yacht Club (BAYC) NFT project ecosystem, harms the non-fungible token segment.

if you don’t agree that’s fine and i wish y’all well, but i would appreciate civil disagreement rather than attacking me or dogecoin, since that literally just proves my point about how adding a token to the space leads to toxicity, and toxicity hurts the brand and the NFT space

— Shibetoshi Nakamoto (@BillyM2k) March 18, 2022

According to him, such tokens quickly gain popularity, but then their price falls, which leads to negative sentiment among users.

“Sorry, I’m not a fan of ApeCoin, mainly because I think it harms the NFT segment. Token communities are usually hyper-toxic and reckless,” wrote Markus.

Markus added that the audience may not agree with him, and urged restraint from negativity toward him or Dogecoin. Otherwise it would prove his position on toxicity, Markus noted.

On March 17, the BAYC team launched ApeCoin trading, which will become the primary asset not only for the NFT project’s ecosystem but also for the company’s future products.

Among BAYC, MAYC and BAKC NFT holders, 150 million APE were distributed.

According to the NFT marketplace OpenSea, over the last seven days the trading volume of BAYC tokens surged by 375%. The gains for MAYC and BAKC stood at 314% and 861%, respectively.

MEV-bot operators earned millions of dollars in the ApeCoin airdrop.

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