NFT project Bored Ape Yacht Club by Yuga Labs to have its own token

NFT project Bored Ape Yacht Club by Yuga Labs to have its own token

Yuga Labs will launch an ERC-20 standard token for the Bored Ape Yacht Club (BAYC) NFT project ecosystem in the first quarter of 2022.

Good evening, apes. Been hearing a question around the club a lot: WEN TOKEN? Wen token indeed . . . Some thoughts below.

"Launching an ERC-20 standard token is easy; it takes a few minutes. It's much harder to create a token that complies with the legislation and prepare it in a responsible, sustainable way," Yuga Labs said in a statement.

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

BAYC is one of the most popular NFT collections on the Ethereum blockchain. According to the CryptoSlam service, aggregate sales of tokens from the core set totalled $548 million.

At the end of August, Yuga Labs held an airdrop of "mutation potions" allowing a new NFT to be released for free with the image of a mutated monkey. The Mutant Ape Yacht Club set reached a trading volume of $287 million.

Earlier, NFT gaming project Loot also issued Adventure Gold token (AGLD) on Ethereum blockchain. It was created by Will Papper, co-founder of decentralised investment platform Syndicate, a member of the community.

Adventure Gold is now available for @lootproject! Claim 10,000 $AGLD per Loot bag. Go here to claim: https://etherscan.io/token/0x32353a6c91143bfd6c7d363b546e62a9a2489a20#writeContract…Most people will want to use "claimAllForOwner" unless they want to leave some Loot unclaimed.

The day after the launch of the asset, the FTX listed the futures associated with it.

In September, a set of 107 NFTs from the BAYC collection went under the hammer at Sotheby's for $24.4m.

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