The non-fungible token (NFT) project Bored Ape Yatch Club (BAYC) plans to create its own token in the first quarter of 2022. It will be distributed as an airdrop to monkey holders.
Soon a BAYC token?
On its Twitter account, the non-fungible token (NFT) project Bored Ape Yatch Club (BAYC) announced the future launch of its token for the first quarter of 2022.
Thus, the new token will be distributed as an airdrop to Bored Ape holders. The ERC-20 token could function as a governance token for a DAO and open the project to other types of decentralized finance (DeFi) related initiatives. However, the BAYC team explained:
“It’s relatively easy to launch an ERC-20 token, it takes a few minutes. However, it’s much more complicated to create a future-proof, regulatory-compliant token.”
Yuga Labs, the company behind the collection, will work with law firm Fenwick & West LLP and technology consulting firm Horizen Labs (ZEN).
Monkey holders have received an airdrop in the past in the form of a serum to create a new mutant monkey called “Ape Mutant.” Depending on the level of the serum, the monkey could be completely deformed, with varying degrees of rarity.
An NFT reference project
Bored Ape is the third best performing NFT project of all time on the OpenSea marketplace. According to the data, the monkeys have generated a volume of 182,000 Ethers (ETH) since their creation.
Currently, the minimum price to acquire a monkey is 40 ETH, which is equivalent to 143,200 dollars. Below we can see the 10 most important on-chain sales of monkeys:
As we can see, the most expensive monkey is the number 2087 sold at the end of September for 769 ETH or about 2.7 million dollars.
In September, the auction house Sotheby’s offered for sale a lot of 101 BAYCs. A sale that reached a value of nearly $24 million. The startup Yuga Labs, creator of Bored Ape, is behind this operation.