The Ape Token (APE) is a utility and governance token built on the ERC-20 standard and is associated with the Bored Ape Yacht Club NFT collection. Bored Ape Yacht Club is a collection of 10,000 unique NFTs (non-fungible tokens) representing cartoon apes minted on the Ethereum blockchain. Each ape serves as a membership card granting access to various benefits, events, and exclusive content within the BAYC community.
The Ape Token enables token holders to participate in governance and is used in games, services, merch, and as currency within the ecosystem. The token also incentivises third-party developers to participate in the APE ecosystem by building applications incorporating ApeCoin.
It's important to note that the Ape Token mentioned in the context of BAYC is different from the APE Coin associated with the ApeSwap decentralised exchange (DEX) on the Binance Smart Chain. Therefore, always double-check the project's official information and sources to ensure you interact with the correct token.
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