ApeCoin (CRYPTO: APE) debuted Thursday as an ERC-20 governance and utility token. Here’s a look at how the token is trading in its market debut and how much Bored Ape Yacht Club owners could have made.
What Happened: ApeDAO launched ApeCoin Thursday as a token for culture, gaming and commerce to build out Web3 efforts.
The total supply of ApeCoin tokens is 1 billion, with the majority split between NFT owners and the ApeDAO. NFT owners were eligible to claim 150 million coins beginning Thursday morning and have 90 days to claim the token. The DAO will have 470 million coins in its treasury. The two parties together represent 62% of the supply.
The remainder is as follows:
- 150 million coins to Yuga Labs
- 16% (around 10 million) to Jane Goodall Legacy Foundation
- 14% to launch contributors
- 80 million coins to the four Bored Ape Yacht Club founders.
Many of the allocations have a 12-month lockup. ApeCoins allocated to NFT holders that were claimed Thursday were free to be traded right away.
ApeCoin was listed on several major exchanges Thursday including FTX, Coinbase Global (NASDAQ: NASDAQ:COIN), Binance, Gemini, Voyager Digital (OTC: VYGVF), Kraken and eToro.
Related Link: ApeCoin Launched: Here Are The Details And How To Get It
ApeCoin Value: The coin traded in range of $1 and $39.40, according to CoinMarketCap, and traded as high as $16.74 on Voyager.
Here is a look at how many ApeCoins each NFT holder was allocated:
- Bored Ape Yacht Club owner: 10,094 ApeCoins
- Mutant Ape Yacht Club owner: 2,042 ApeCoins
- Bored Ape Yacht Club and Bored Ape Kennel Club owner: 10,950 ApeCoins
- Mutant Ape Yacht Club and Bored Ape Kennel Club owner: 2,898 ApeCoins
Based on selling at the top price on Voyager Thursday, here’s a look at how much NFT owners could have made or saw their ApeCoin initially valued at.
- Bored Ape Yacht Club owner: $168,973
- Mutant Ape Yacht Club owner: $34,183
- Bored Ape Yacht Club and Bored Ape Kennel Club owner: $183,303
- Mutant Ape Yacht Club and Bored Ape Kennel Club owner: $48,512
- Bored Ape, Mutant Ape, Bored Ape Kennel owner: $217,486
What’s Next: Animoca Brands, which is the company that owns The Sandbox (CRYPTO: SAND), also announced it is utilizing ApeCoin.
The company is turning its BenjiBananas mobile game into a free-to-play game that will allow players who have a NFT the ability to turn bananas earned in the game into ApeCoins.
The announcement of ApeCoin Wednesday led to strong sales volume in Bored Apes, Mutant Apes and Bored Ape Kennel Club NFTs.
Bored Ape Yacht Club had sales volume of $51.9 million in the last 24 hours, up 1,500%. Mutant Ape Yacht Clubs had volume of $32.6 million, up 578%. Bored Ape Kennel Club had sales volume of $12.7 million, up 858%.
Shortly after the ApeCoin announcement, the three assets were trading at:
- Bored Ape Yacht Club: 98 Ethereum (CRYPTO: ETH)
- Bored Ape Kennel Club: 10 ETH
- Mutant Ape Yacht Club: 22.99 ETH
All three spiked higher, with Bored Apes passing the 100 ETH level Wednesday night.
After the claim for ApeCoin, the NFTs saw their floor price fall, with Bored Apes trading down to 76 ETH.
Price Action: At the time of writing, the NFT floor prices were:
- Bored Ape Yacht Club: 89 ETH
- Mutant Ape Yacht Club: 17.8 ETH
- Bored Ape Kennel Club: 6.25 ETH
Photo via Pixabay.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.