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Ape Coin (APE) Price

Here you can see the current Ape Coin and its historical performance. Ape Coin is one of the cryptocurrencies you can trade on BISON.

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Table of contents

What are the Bored Apes?

The Bored Apes, or “gelangweilte Affen” in German, first saw the light of day in 2021. During the NFT boom, the Bored Ape Yacht Club became the most famous and successful NFT project, alongside Crypto Punks. The collection consists of 10,000 monkeys, each differing in rarity due to various characteristics.

 

The most expensive monkey was sold in 2021 for $3.4 million. The artwork, titled “Bored Ape Yacht Club #8817”, is particularly rare due to features like its golden background, earring, and sweater. The buyer is the CEO of the company nft42 (Source: The Crypto Times, 2022).

Yuga Labs and the Crypto Punks

Behind the Bored Ape Yacht Club (Bored Apes being just an abbreviation) is the company Yuga Labs. Yuga Labs was founded in 2021 by two friends and achieved enormous success with its first NFT collection, the Bored Apes. Building on this success, Yuga Labs continued its growth trajectory in 2022, expanding its portfolio by acquiring the Crypto Punks project, thereby integrating it into the Yuga Labs family. This expansion is significant as six of the ten most expensive NFTs ever sold are Crypto Punks, including the artwork “CryptoPunk #5822”, which fetched a remarkable 24 million US dollars.

 

In March 2022, Yuga Labs introduced ApeCoin, which we’ll look at in detail shortly. A day after ApeCoin’s launch, Yuga Labs announced its own metaverse named Otherside. Otherside, in a strict sense, is not a metaverse but aims to compete with existing metaverses like Decentraland and The Sand. You can find everything about the metaverse in a detailed blog article on the BISON blog.

What is ApeCoin?

Previous chapters show how large the universe around the Bored Ape Yacht Club has become, encompassing elements like the Metaverse, a range of crypto projects, and significant funding amounting to 450 million US dollars. Central to this ecosystem is ApeCoin (APE), which serves as the official currency.

Ape Coin Darstellung

Technically speaking, ApeCoin isn’t something particularly special. It’s an ERC-20 token, meaning that it’s a cryptocurrency built on the Ethereum blockchain. There’s no additional Layer-2 solution. Some projects build their cryptocurrency based on an ERC-20 token but develop their ecosystem further with their own blockchain solution built on the Ethereum blockchain. The most common reasons are transaction cost savings and the ability to confirm transactions faster. At the end of 2022, the community decided that ApeCoin’s technology should not be changed for the time being.