Soon a BAYC token?
On its Twitter account, the non-fungible token (NFT) project Bored Ape Yatch Club (BAYC) announced the future launch of its token for the first quarter of 2022.
Thus, the new token will be distributed as an airdrop to holders of Bored Ape. The ERC-20 token could function as a governance token for a DAO and open the project to other types of initiatives related to decentralized finance (DeFi). However, the BAYC team explained:
“It’s relatively easy to launch an ERC-20 token, it takes a few minutes. However, it is much more complicated to create a sustainable token that complies with the regulations. “
Yuga Labs, the company behind the collection, will work with law firm Fenwick & West LLP and technology consultancy firm Horizen Labs (ZEN).
Monkey owners have received an airdrop in the form of a serum in the past to create a new mutant monkey called “Ape Mutant”. Depending on the level of the serum, the monkey could be completely deformed, with more or less rare peculiarities.
A reference NFT project
Bored Ape is the third best-performing NFT project of all time on the OpenSea marketplace. According to the data, the monkeys have generated a volume of 182,000 Ethers (ETH) since their creation.
Currently, the minimum price to acquire a monkey is 40 ETH or the equivalent of 143,200 dollars. Below we can see the top 10 on-chain sales of monkeys:
Ranking of BAYC’s 10 biggest on-chain sales – Source: Dune Analytics
As we can see, the most expensive monkey is number 2087 sold at the end of September for 769 ETH or around $ 2.7 million.
Bored Ape # 2087 – Source: OpenSea
In September, the auction house Sotheby’s put up for sale a lot of 101 BAYCs. A sale that reached a value of almost $ 24 million. It is the startup Yuga Labs, creator of Bored Ape, which is at the origin of this operation.
👉 To read on the same subject: 101 NFTs Bored Ape auctioned for more than $ 24 million at Sotheby’s
Receive a recap of crypto news every Sunday 👌 And that’s it.
About the author: Florent David
Engaged in the crypto ecosystem since 2017. I am particularly interested in decentralized finance (DeFi), Ethereum 2.0 and non-fungible tokens (NFT).
All articles by Florent David.