NFT creators Bored Ape Yacht Club will launch their own token – Bits Media

Development team, behind the popular set of collectible tokens (NFT) Bored Ape Yacht Club, preparing to launch its own token, traded on cryptocurrency exchanges.

Before the launch of the Bored Ape Yacht Club project, the team worked on Loot, one of the first projects in in the field of collectible tokens, within which the Adventure Gold token was distributed among NFT owners (Agld). 

At the same time, the ecosystem around Loot was built after the launch of the NFTs themselves. In the case of a new token, which will be launched in the first quarter 2022 of the year, the team plans to first build an ecosystem and only then launch a token.

“It’s ridiculously easy to launch an ERC-20 token, it takes minutes. Much more difficult to build a token, compliant with regulatory requirements, and create the right ecosystem", – the developers note.

While the parameters of the new token are being worked out. The team needs to consider the applicability of the asset, way to manage the ecosystem and appeal to the audience. The token development will be assisted by the Fenwick West team and the technology firm Horizen Labs.

Recall, that Bored Ape Yacht Club NFTs were exhibited at auctions of the prestigious houses Christie’s and Sotheby’s.