Bored Ape Yacht Club announced the release date of their $APE coin back in October 2020, but when influencer Breezy.eth tweeted that it would be released by Q1 2022, many had trouble accepting it because they likely didn’t know the deadline.
As of press time, 2000 likes have been seen on the viral tweet. This reflects Collector and Enthusiasts look forward to more utility from Top-Tier NFT.
What we know so far about the $APE Coin
The Bored Ape Yacht Club (BAYC) is a billion-dollar NFT ecosystem. Its total ETH trading volume is $1.084 billion on OpenSea and the founders are excited to release their token, which makes sense given that the establishment has an enthusiastic following of 396,000+ fans on Instagram.
The $APE token is released with no official release date, and the community is already excited. NFT holders want to know if they can get free tokens at any time, while other speculators are hoping they will be able to “ape in” to the project despite not owning a Bored Ape NFT yet.
In a recent post, Bored Ape Yacht Club’s legal team shared that it was more complicated to build the legally compliant APE token and manage it sustainably. They also needed to wisely “craft dope utility and governance, benefit club members, and promote the BAYC cryptocurrency ecosystem to everyone.” Hence, they decided that launching the token in Q1 of 2022 was the best option.
The BAYC collaborated with top lawyers @FenwickWest and crypto organizations to launch a token that follows regulatory rules. BAYC confirms they are currently in beta mode and officially launch the $APE Coin in April.
After carefully qualifying the purchase of BAYC tokens, fans can now buy their very own $APE Coins today. This goal is happening by using smart contracts to create a system of accountability and confirm to consumers from an official platform–Twitter.
Latest News About BAYC
With a $25 million fundraising goal, Bored Ape Yacht Club has completed its first day of an Initial Exchange Offering. Consisting only of NFTs, the labels for each coin are currently sold as digital stickers that can be used in any sticker photo suite. “BAYC anticipated that everyone would want to wear their coins as giant stickers all over their body after watching the game,” CEO @CryptoGarga told BlockTV Podcast on Monday, January 28th.