What is APE Coin?

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March 2022 saw the release of ApeCoin, the Bored Ape Yacht Club-affiliated cryptocurrency that promises to be the coin-of-choice for a new metaverse ecosystem being built out by Yuga Labs — the creators behind BAYC.

The release of the coin, which came off the back of Yuga Labs acquiring NFT collectible CryptoPunks, and followed by the news that Yuga Labs raised $450 million in funding.

ApeCoin doesn’t just have the potential to bring new people into crypto, via the events, gaming, and merch that will be accessible through the token, but it also represents one major way the NFT space is quickly evolving, beyond just the “profile picture projects” that have become synonymous with the $40 billion-plus market.