Bored Ape Yacht Club is a wildly popular collection of nonfungible tokens, or NFTs, a status symbol coveted by celebrities, athletes and venture capitalists alike.
Bored Apes are already the third-most valuable collection of NFTs, with $1.5 billion in all-time sales, according to blockchain data tracker CryptoSlam. They also unlocked early access to a new digital currency — ApeCoin.
ApeCoin launched Thursday in a type of release known as an “airdrop,” in which certain groups of crypto holders automatically receive tokens as a reward. In this case, 1 billion ApeCoins dropped, with owners of Bored Ape NFTs in line to receive some of ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.