ApeCoin rises over 11% following announcement of new game edition

APE CRYPTO_NEWS

ApeCoin, associated with Yuga Labs’ Bored Ape Yacht Club, witnessed a surge of 11% in value after announcing a publicly accessible edition of the game Dookey Dash.

ApeCoin, the digital currency associated with Yuga Labs’ Bored Ape Yacht Club (BAYC) ecosystem, experienced a notable surge of over 10% on Wednesday after announcing a new free-to-play edition of the BAYC-themed game Dookey Dash.

As reported by CoinGecko, ApeCoin’s value rose to $1.66 high, reflecting an 11.3% increase in the past day and 18.4% over the week.

A trailer for this new version featured ApeCoin logos, although Yuga Labs has not confirmed whether in-game rewards will be distributed via ApeCoin. The original version of Dookey Dash gained attention when the winner, known as ‘Mongraal’, sold a unique NFT key for $1.63 million to billionaire Adam Weitsman.

Yuga Labs also announced on Twitter that owners of NFT collections, including Bored Apes and Mutant Apes, will receive special “token benefits” in the new edition of Dookey Dash. The game, set to be available on iOS, Android, Mac desktop, and Windows desktop platforms, is expected to launch in February.

ApeCoin is an Ethereum-based token that serves as the official currency of the BAYC ecosystem, which began with the 10,000 BAYC profile picture NFT collection and expanded to include the Mutant Ape Yacht Club, among others.

Although Yuga Labs created the BAYC collection, ApeCoin was developed by the ApeCoin DAO, a decentralized autonomous organization. This organization is responsible for governing the token and its future development. Initially, tokens were distributed to BAYC and MAYC holders, and are used for voting on governance proposals within the community.

Source : crypto.news by Bralon Hill / Jan 17, 2024

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