Bored Ape Yacht Club (BAYC) Intellectual Property Stays With Yuga Labs

Apecoin is an ERC-20 token.  Apecoin was created to be fungible unlike NFTs.  Apecoin can be purchased and sold freely on decentralized exchanges.

Open Sea, the leading NFT Marketplace is now accepting ApeCoin.  Apecoin is the Ethereum based governance token which is being used on the BAYC ecosystem.  The value of the Apecoin has skyrocketed over the past week. Eventually, Apecoin became the largest metaverse token in terms of market cap.

With ApeCoin, now being accepted in OpenSea, Ape can now be used to make purchases in secondary sales.

ApeCoin exists as a decentralized base for those who are driving culture forward into the metaverse. Its integration into one of the largest marketplaces in the space is big and yet another proof point of the strength of our community.

Meanwhile, the Apecoin community has been hard at work proposing new ideas in the form of AIPs to guide the direction of the DAO. Those who want to know more might want to check the AIP-21, AIP-22, and AIP-7.

Voting in these proposals will conclude on Wednesday May 4th at 9PM ET.  So, those who are willing to vote should be sure to get your votes in before then. Those who are willing to submit AIP can check the ApeCoin DAO Governance.

ApeCoin DAO, is a brand new organizational unit governed entirely by Ape token holders. Anyone who holds Ape will be a member of DAO. There is no need for Ape holders to even own a Bored Ape NFT to be a part of the ApeCoin DAO.

Ape Foundation, will handle day-to-day DAO administration, which will consists of activities like looking in to whether the DAO community’s ideas have the support it requires to become a reality.  The Ape Foundation serves as the legal backing for the ApeCoin DAO.

ApeCoin protocol is the code behind ApeCoin tokens.  Then there is the ApeCoin DAO, the Ape Foundation and the ApeCoin DAO board.

The Apecoin Foundation’ subcommittee serves as the ApeCoin DAO’s Board.  The Board will oversee proposals.

The board is made up of high profile crypto investors like:  Alexis Ohanian, Reddit co-founder; Amy Wu, lead at crypto exchange FTX’s venture arm; Maaria Bajwa, of Sound Ventures; Animoca Brands’ Yat Siu; and Dean Steinbeck of Horizen Labs.

Every board member gets a six-month term.  The ApeCoin website promises that the DAO members will be able to vote on future members.

The main company behind the Bored Ape Yacht Club is Yuga Labs.  They claim to be the first NFT Monopoly. What they have to claim is that if you want to do anything about “Bored Ape Yacht Club” in terms of Intellectual property of Bored Ape  you have to go through Yuga Labs.