Bored Ape Yacht Club establishes a cryptocurrency to support games, events, and merchandise
Yuga Labs announced today the launch of ApeCoin, a cryptocurrency that will serve as the “main token for all new products and services” from the company. This includes a recently announced play-to-earn blockchain game that the business wants to introduce in collaboration with developer nWay later this year.
ApeCoin will initially be used as in-game currency, but it is being marketed as a currency that can be used outside of Yuga Labs’ titles. It will be enabled beginning tomorrow in Benji Bananas, a game developed by Animoca Brands, which also owns nWay. And it appears as though the expectation is that it will be used in further titles or perhaps used as a more general-purpose digital money.