The floor price of BAYC soared by double-digits following an announcement for an upcoming native token of the popular NFT project.
The team behind the Bored Ape Yacht Club outlined plans to launch a new native token, ApeCoin, which will be distributed among owners of such NFTs. Shortly after the announcement, the floor price for BAYC NFTs skyrocketed to above 100 ETH.
ApeCoin was announced yesterday, and the team described it as a “token for culture, gaming, and commerce,” which could be used to “empower a decentralized community building at the forefront of Web3.” A decentralized organization called ApeCoin DAO will be behind the coin, and every holder will be able to vote on the governance and use of the Ecosystem Fund.
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