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  • Home Blockchain News Yuga Labs’ Bored Ape Yacht Club NFT Project Will Have Its Own Token

    Yuga Labs’ Bored Ape Yacht Club NFT Project Will Have Its Own Token

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    Crypto News

    Yuga Labs Bored Ape Yacht Club NFT Project Will Have

    Yuga Labs to Launch ERC-20 Ecosystem Token NFT-project Bored Ape Yacht Club (BAYC) in the first quarter of 2022.

    “Launching an ERC-20 token is very simple; it takes a few minutes. It is much more difficult to create a token that is compliant with the law and prepare it in a responsible, sustainable way, ”Yuga Labs said in a statement.

    The company is working with the legal team of Fenwick West and the technology firm Horizen Labs, which is the issuer of the token of the same name from the Coinbase Pro listing, to launch the asset.

    BAYC is one of the most popular NFT collections on the Ethereum blockchain. According to the CryptoSlam service, the total volume of token sales from the main set was $ 548 million.

    In late August, Yuga Labs airdropped Mutation Potions to release a new NFT featuring a mutated monkey for free. The Mutant Ape Yacht Club set has a sales volume of $ 287 million.

    Previously, the NFT gaming project Loot also released Adventure Gold (AGLD) token on the Ethereum blockchain. It was created by one of the community members – Will Papper, co-founder of the Syndicate decentralized investment platform.

    The next day after the launch of the asset, the FTX exchange conducted a listing related futures.

    Recall that in September, a set of 107 NFTs from the BAYC collection went under the hammer at Sotheby’s for $ 24.4 million.

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