Late last week, owners of the Bored Ape Yacht Club non-fungible tokens (NFTs) were each given, for free, upwards of 10,000 tokens of a brand-new cryptocurrency called ApeCoin.
At time of writing, ApeCoin was trading in the $13 to $14 range…meaning the NFT owners were awarded roughly $140,000 each.
In total, NFT holders could collect 150 million ApeCoins, so the total value of the giveaway was in the $2 billion range!
So yesterday, I sat down with Field Notes Managing Editor Ciaran Madden to discuss how and why this giveaway happened, and to explain what this means for the future of NFTs.
Check out the video of our conversation below…
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