Yuga Labs have been prepared to bring the Bored Apes NFT Project to the mainstream. By new partnership for a game title that is supported by the most hyped token ApeCoin.
Yuga labs are the creators of the NFT project Bored Apes yacht club. This NFT project was one of the most successful NFT projects of 2021.
Surprisingly, the initial price for purchasing the cheapest of the 10,000 images is presently worth $240,000 of ether.
As per reports the Yuga labs moving a step forward, and explaining a new partnership for a game title. That is dependent on the token known as ApeCoin.
Yuga labs opinion is that the introduction of a new game and token will take the Bored apes Yacht Club NFT project to the mainstream. That means the Yuga Labs new preparation will add more value to the NFT project.
And this new game title will launch this year. As well this new game title will arrive in addition to the lastly announced play to earn games that will be within a partnership with the Animoca brand.
Furthermore, last week the crypto economy that formed around its IP was extended more. To accommodate the valued CryptoPunks and Meebits NFT collections after Yuga obtained the assets of larva labs.
And building this economy will need some very particular lawful operations to make sure compliance. However, The Securities and exchange commission (SEC) has maintained its distance from Non-fungible tokens projects.
As well Yuga labs is making sure that the token launch would stay hidden from the public, And instead of that, it will be launched through Decentralized Autonomous Organization that has been named as ApeCoin DAO.
This organization will consist of the council members linked to the NFT project however collaborators and executives of yuga labs would not be involved.
And DAO will also look after the official branding of the BAYC Project.
Along with building the ApeCoin DAO, another entity titled APE Foundation will also establish to control the decisions of the Ape Coin DAO.
Who Will Be The Members Of The ApeCoin DAO Council?
Alexis Ohanian, co-founder of Reddit social media app, Amy Wu of FTX, Maaria Bajwa from Sound Ventures, Yat Siu founder of The Animoca, and Dean Steinbeck of Horizen Labs will be added in to this ApeCoin DAO council as members.
This DAO system will enable the token holder to include their votes. And the specific council of the DAO “will carry out the decisions of the community,” the representative told.
Aside from it, a representative from yuga labs revealed that they expect the ApeCoin to be traded soon on the well-known names in crypto exchanges. The names that representatives confessed were Coinbase, FTX, eToro, Kraken, OKX, Gemini, FTX, Binance, and Binance US.
Yuga labs have not disclosed complete details on the connection between the ApeCoin DAO and Yuga Labs.
But this new gaming title will follow the mechanism of play to earn, which will enable the gamers to earn, as well as this toke ApeCoin will serve as the in-game currency.
As per The Block’s report, the company has scheduled some activities and projects to launch this year. That will accelerate the company’s growth and will take the company to the expected net sales of $455 Million in 2022.
Yuga Labs CEO Nicole Muniz stated in an interview.
“I don’t know how big Bored Ape Yacht Club can be, that’s not to say I don’t envision it big, but I think – I hope – Yuga is going to be big and we’ll be able to create a lot of things that are unique and special and speak to the larger community in different ways.”
Final Thoughts:
Yuga Labs have been prepared to bring the Bored Apes NFT Project into the mainstream this year by introducing a new title game and this game will be supported by the most hypes and most famous toke ApeCoin.
The entry of the yuga labs into the gaming world will surely accelerate the growth plans for the BAYC brands. But still, we have to wait and see would Yuga Labs prepared plans will be enough or fulfill its expectations?
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