ApeCoin is now accepted in the NFT Marketplace

ApeCoin is now accepted in the NFT Marketplace ...

This week, the most popular non-fungible token (NFT) marketplace OpenSea began accepting ApeCoins, the main token for the Bored Ape Yacht Club ecosystem, and the main currency required in the metaverse game experience Otherside. A relatively new Ethereum token allows users to make transactions via web3 apps, which do not have to be limited to those developed by Yuga Labs or the Bored Ape Yacht Club.

There is currently a supply of 284 million ApeCoins, with a maximum supply of only 1 billion ApeCoins.

Otherside is a game experience in the metaverse developed with Animoca Brands, which was also the company that developed The Sandbox metaverse. It has a host of scenarios, like CryptoPunks, Meebits, Apes, and Cool Cats. Yuga Labs, the parent company of the Bored Ape Yacht Club, has also dropped Otherdeed NFTs for users to claim virtual land in the Otherside metaverse.

ApeCoin is currently trading at $18.56 USD, and the coin has reached a trading volume of more than $5 billion.

The tokens were created by the ApeCoin''s decentralized autonomous organization, or DAO. Over the next six months, ApeCoin''s board of directors will serve several prominent members, like Amy Wu and Reddit co-founder Alexis Ohanian. Owners of ApeCoins will be able to vote for the members each year.

The founders of Bored Ape Yacht Club will automatically receive 8% of ApeCoins, while 16% will go to the Yuga Labs team. The website allows members of Bored Ape Yacht Club and Mutant Ape Yacht Club NFT to redeem their select number of free tokens. For example, Mutant Ape owners may receive 2,042 tokens, or $16,400 in ApeCoins.

A 1% of the ApeCoin supply will be used as a donation to the Jane Goodall Legacy Foundation, where real apes will presumably benefit from the tokens.

You may also like: