The development team behind the popular Bored Ape Yacht Club Collectible Token Set (NFT) is gearing up to launch its own cryptocurrency-traded token.
Prior to the launch of the Bored Ape Yacht Club project, the team worked on Loot, one of the first collectible token projects, in which Adventure Gold (AGLD) token was distributed among NFT holders.
At the same time, the ecosystem around Loot was built after the launch of the NFTs themselves. In the case of the new token, which will be launched in the first quarter of 2022, the team plans to first build an ecosystem and only then launch the token.
“Launching an ERC-20 token is ridiculously easy and takes minutes. It is much more difficult to build a token that meets the requirements of regulators and create the right ecosystem “, – celebrate developers.
While the parameters of the new token are being worked out. The team needs to consider asset applicability, how the ecosystem is managed, and audience appeal. The development of the token will be assisted by the Fenwick West team and technology firm Horizen Labs.
Recall that NFT Bored Ape Yacht Club were exhibited at the prestigious houses Christie’s and Sotheby’s.