Bored Ape Yacht Club NFT holders will be receiving newly launched ApeCoin (APE) as an incentive for belonging to the Ape club.

ApeCoin (APE) is a new token developed by the ApeCoin decentralized autonomous organization (DAO) to serve as “a token for culture, gaming, and commerce used to empower a decentralized community building at the forefront of web3.”

According to Apecoin’s website, each owner of a Bored Ape NFTs will be able to claim approximately 10,000 ApeCoin, while Mutant Ape NFTs owners, approximately 2000 each from the total 1 billion supply.

However, the claim period will be open for 90 days, and tokens associated with an NFT can only be claimed once, according to an announcement.

In the last 24 hours, bitcoin has been up by 0.2%, with a current price of $41,030.24 as of the time of writing this. Within 24 hours, bitcoin experienced a $39,633.15 low and $41,374.00 high. The trading volume of bitcoin in the last 24 hours is $26,240,084,494. The current market capitalization of bitcoin is $778,990,087,290. Currently, $18.98M bitcoins are in circulation.

Stats and Image from Coin Gecko

ApeCoin was not developed by Yuga Labs, the developer of BAYC NFTs. However, Yuga Labs plans to adopt the token as a primary token for all its new products and services, including the soon-to-be-released play-to-earn (P2E) blockchain game.

The members of the ApeCoin DAO board include the Co-founder of Reddit, Alexis Ohanian, FTX Head of Ventures & Gaming; Amy Wu, Principal at Sound Ventures; Maaria Bajwa, Co-founder & Chairman of Animoca Brands; Yat Siu and President & General Counsel at Horizen Labs, Dean Steinbeck.