In 2021, after paying more than R $ 6 million for 2 NFTs from the board app Yacht Club Collection, known as the “Monkey of the NFT Market”, player Neymar appeared in the newspaper. Later, the player augmented his collection by paying BRL 790,000 for the new token, purchasing another token from the Mutant App Yacht Club, another collection of board app makers.
After moving billions of dollars, the founding company of the collection, Yuga Labs, launched its own governance token, ApeCoin, and announced the new metavers, The Otherside. Would you like to know more about ApeCoins and The Otherside?
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What is ApeCoin?
ApeCoin is described by YugaLabs as a “support token for all innovations brought into the company’s collection and metavers.” This monkey is owned and controlled by a community of NFT owners.
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It is important to understand how the assets were distributed, in the end, parts of it were sent to the wallets of NFT owners of the following collections: Board Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC) and Board Ape Kennel Club (BAKC). The number of crypto assets distributed to each collection owner was: 10,094 for BAYC NFT owners, 2,042 for MAYC owners, 10,950 for BAYC + BAKC owners and 2,898 for MAYC + BAKC owners.
Therefore, considering that at the moment the coin is more than R $ 30, BAYC owners, for example, in addition to NFT worth more than 850 thousand rias, is a little more than 300 thousand rias (at today’s price, around R $ 30 each APE). Neymar, for example, if he did not sell his app Coins, currently has more than 600,000 rias in crypto assets.
In addition, cryptocurrencies also have a separate percentage for the treasury of the decentralized organization that manages the future of tokens: 16% reserved for Yuga Labs and charities, 14% for companies supporting the project, and finally 8% for the founders of the Board App Yacht Club.
But what underscores the value of the token?
As the founders described, the token is intended to guide and accompany all of the company’s new projects, and the launch of the board app Yacht Club’s Metavers, shortly before the announcement of The Otherside, was no accident. It will be an interactive and immersive space for users to literally meet, play games, go to parties, etc. in one of the best metavars of the year 2021.
ApeCoin makes this very attractive to some investors, so it is likely to be the currency of exchange in The Otherside metaverse, as in the case of other tokens like SAND and MANA, in Sandbox and Descentraland metaverses, respectively.
Also read: How will metaverse and web3 revolutionize life and business?
In keeping with their promise, Euglabs has taken the first step to show that they will indeed use ApeCoin in their projects, as they do when launching plots of The Otherside metaverse, which give users the right to create attractions and virtual properties. , Was sold with their crypto assets! Even more shocking is the fact that the company sold this plot of land for about 100 100 million, mainly in the original currency ApeCoin.
The most interesting part of all this is that the same company brings the news and outperforms itself with each new publication. Yug Labs is a “success machine” (so far). By launching the largest collection of NFTs on the market, the Board App Yacht Club; Visit its owners and raise funds with another collection, Mutant Ape Yacht Club; And, finally, they brought the news of the metaverse of ApeCoin and The Otherside; It’s interesting to imagine what’s to come.
Ultimately, millions of dollars in the company’s coffers are ready to be reinvested in innovations, and as promised, all of this will be guided by ApeCoin. Currently, ApeCoin’s market capitalization is already higher than the other two major metavers tokens, SAND (from SandBox) and MANA (from Descentraland). Progress. It is up to Yuga Lab to pursue its journey of success to further itself in this new endeavor.
Now tell me, was it right when Neymar bought 3 NFTs from this company?