Yuga Labs will launch an ERC-20 token for the NFT-project ecosystem of the Bored Ape Yacht Club (BAYC) NFT project’s ecosystem in the first quarter of 2022.
Good evening, apes. Been hearing a question around the club a lot:
WEN TOKEN? 🤔
Wen token indeed . . . Some thoughts below.
— Bored Ape Yacht Club (@BoredApeYC) October 8, 2021
“Launching an ERC-20 token is very easy; it takes only a few minutes. Crafting a token that complies with the law and preparing it in a responsible, sustainable manner is far more difficult,” the Yuga Labs statement said.
The project is working with Fenwick West’s team of lawyers and the technology firm Horizen Labs, the issuer of the eponymous token listed on Coinbase Pro.
BAYC is one of the most popular NFT collections on the Ethereum blockchain. According to CryptoSlam, the total sales volume of tokens from the main set reached $548 million.
In late August Yuga Labs conducted an airdrop of “green mutations”, allowing a free mint of a new NFT featuring a mutated ape. The Mutant Ape Yacht Club set’s trading volume reached $287 million.
Earlier, the play-to-earn NFT project Loot also issued the Adventure Gold (AGLD) token on the Ethereum blockchain. Its creator was one of the community members—the cofounder of the decentralized investment platform Syndicate, Will Papper.
Adventure Gold is now available for @lootproject! Claim 10,000 $AGLD per Loot bag. 🎉🔥 Go here to claim: https://t.co/CFUBf3LzW0
Most people will want to use “claimAllForOwner” unless they want to leave some Loot unclaimed.— Will Papper ✺ (@WillPapper) September 2, 2021
The very next day after the asset’s launch, the FTX exchange listed futures tied to it.
In September, a batch of 107 BAYC NFTs from the collection went under the hammer of Sotheby’s auction house for $24.4 million.
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