Allegedly, $APE token might be available to all previous holders of BAYC NFTs

According to a Twitter user, @WillyTheDegen, Yuga Labs might distribute $APE tokens to the owners of Bored Ape, Mutant Ape or Kennel dogs. The same user introduces the source as a MoonPay employee.

Image Credit: Twitter

If that’s true, then how much $APE tokens will the holders receive?

According to @WillyTheDegen, the amount will be based on how long the owners have held the NFTs.

This is not the first time someone has talked about $APE token distribution to BAYC holders. Earlier, NFT influencer, @economist wrote an article explaining how distribution can take place.

Image Credit : Twitter

According to him, a total token count of more than 1 billion might be distributed. However, he made the assumptions according to data available from the period from 5th December to 12th December 2021.

Currently, over 6000 unique wallets own a BAYC original ape. So if the rumors are true, $APE will have a substantial community to back the token.

Lastly, the distribution of the tokens will certainly encourage previous holders of BAYC to re-engage with the project. All in all, they can choose to hold, sell, or even dump their $APE tokens to other collectors.

If the speculations come true, BAYC will add several new fans. Till then, stay tuned!

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All investment/financial opinions expressed by are not recommendations.

This article is educational material.

As always, make your own research prior to making any kind of investments.

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