Direct from the desk of Dane Williams.
ApeCoin (APE) is the cryptocurrency launched by the same team behind the popular Bored Ape Yacht Club (BAYC) NFTs.
The launch of ApeCoin was part of the team’s broader strategy to create an entire APE ecosystem related to the original brand.
What ultimately sets ApeCoin apart from the competition is its unique link to BAYC.
BAYC is a brand that transcends crypto, out into the mainstream and capitalising on that is a smart play.
Anyone who buys ApeCoin is eligible to become a member of ApeCoin DAO, the decentralised organisation that will govern how the DAO's treasury is spent.
Ultimately voting on proposals about future projects related to the coin.
It’s smart.
So on the blog today, I’ll take a closer look at the APE ecosystem, breaking down the projects inside and speculating on the future.
Let’s dive right in.
Let’s start by breaking down the three key NFT projects that currently make up the APE ecosystem:
Let’s start with the OG daddy of projects.
Launched in April 2021, BAYC is an NFT collection featuring 10,000 unique digital collectibles of cartoon apes, each with a different look, style and rarity.
It’s true that Yuga Labs, the creator of BAYC, is a community member in the ApeCoin DAO, but they’ve adopted ApeCoin as the primary token for their projects.
BAYC holders have exclusive access to a variety of benefits, including the ability to mint new NFTs, attend events and participate in giveaways.
The BAYC has already achieved significant success, with some apes selling for millions of dollars on the secondary market and is the key to everything.
The second NFT collection in the APE ecosystem is an interesting spinoff of the first.
MAYC features up to 20,000 mutated versions of the BAYC Apes and helps onboard new members to the Ape community.
Original BAYC NFT holders were given 10,000 mutant serums in three tiers via airdrop to add rarity to their traits.
The Mutant Ape Yacht Club has quickly gained popularity among collectors, again seeing many of its mutants selling for impressive amounts on the secondary market.
Not as much obviously, but it’s a cool way to onboard new members into the community who may not have the resources to buy a prestigious, high-end Ape.
The third member of the Ape ecosystem is something a bit different.
Launched in June 2021, BAKC is an assortment of dog NFTs that is again available to every single member of the BAYC.
But will provide a way to allow new members to be brought into the community via the secondary market.
Holders of each Bored Ape NFT can adopt a random Club Dog NFT by just paying for gas.
BAKC NFTs also have their own rarities and certain combinations between the projects can unlock even more benefits for their holders.
The APE ecosystem has already established itself as a vibrant community of NFT collectors and it's continuously expanding.
No matter what your personal opinions of the project are, there’s no denying that the team has got their branding spot on.
With the popularity of ApeCoin following its initial launch, there’s no surprise that the APE ecosystem is poised for more growth in the future.
Although there's no official announcement yet, rumours suggest that the APE ecosystem team is working on new projects that will be added to the ecosystem.
Some members of the APE community have speculated that the team might create a new NFT collection that focuses on a different animal species.
Or maybe they’ll introduce a new gamification feature to the ecosystem.
With ApeCoin, the foundations have been laid and the possibilities are endless.
Personally I’d like to see them get creative and think outside the box when it comes to NFTs.
Not just another cookie cutter clone of their original.
Best of probabilities to you.
