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Bored Ape Yacht Club’s well-known Non fungible collection held top position NFTs for a long time and is still among the prominent ones.
Earlier this week, the company behind the creation of Bored Ape Yacht Club NFT collections announced that they had acquired CryptoPunks and Meebits, other prominent non fungible groups in the marketplace. The after effects experienced by Bored Ape Yacht Club NFT collection price when it surged about 25% in a day.
In addition to that, the launch of ApeCoin also reflected positively on the floor pricing of both BAYS and MAYC. The floor price of Bored Ape Yacht Club surged up to 106.9 ETH, and for Mutant Ape Yacht Club, which is a spin -off collection of the former, rose to 23.9 ETH at the time of writing.
ApeCoin is an ERC-20 token for governance and utility holders of BAYC and MAYC non-fungible tokens can claim. The announcement of the ApeCoin launch by BAYC creator company Yuga Labs came some days after the firm’s acquisition of CryptoPunks and Meebits. However, the firm has not created the new utility token ApeCoin.
Utility and governance token is developed by ApeCoin DAO and APE Foundation, and ApeCoin is claimed to be used for culture, commerce and gaming. Believing the reliability of the newly launched ApeCoin, several projects have already adopted the token, such as Benji Bananas, which is a play to earn game created by Animoca Brands.
NFT marketplace nWayPlay is also developing a play-to-earn game collaborating with BAYC, as the firm announced recently.
Acquisition of CryptoPunks and Meebits has provided intellectual property rights of both the NFT series. In an announcement, Yuga Labs stated that they had acquired the intellectual property IP rights of NFT collections CryptoPunks and Meebit from Larva Labs. That meant Yuga Labs own the brands now, and so does their copyright in the art and other IP rights for both the collection, including 423 CryptoPunks and 1711 Meebits NFTs.
So does so; in the OpenSea NFT marketplace, where BAYC and MAYC held the top positions, their creator company acquired those two more NFT collections at third and fourth positions. That means Yuga Labs now owns all the top four NFT collections on the OperSea marketplace, making a total volume of approximately 55K ETH.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
