ApeCoin announcement surges BAYC floor price to near-ATH before correction By Cointelegraph

© Reuters.

The Bored Ape Yacht Club (BAYC) has officially revealed their ERC-20 utility and governance token ApeCoin (APE), marking a diversification from profile-picture projects (PFPs) into “culture, gaming and commerce” within the Web3 sphere.

The asset has been developed and launched by the ApeCoin decentralized autonomous organization (DAO), a distinguished entity from Yuga Labs, which has established a six-month tenured council committee comprising of Alexis Ohanian, Amy Wu, Maaria Bajwa, Yat Siu and Dean Steinbeck, to oversee the DAO’s development.