ApeCoin Takes Immediate Dive Just a Day After Announcement | 3.17.22

GM Ser,

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ApeCoin Takes Immediate Dive Just a Day After Announcement

Only announced yesterday, the ApeCoin, the official token for the Bored Apes Yacht Club (BAYC), has plummeted just hours after being airdropped to BAYC owners.  

The token started at around $40 just to now be traded at less than $10, due to owners selling them off almost as soon as they got them.  

Bored Ape holders received 10,000 Ape tokens a piece, and according to CoinDesk, “15% of the total supply being available to claim this morning. Of the remaining supply, 47% will be sent to the Ape DAO treasury, 16% to parent company Yuga Labs, 8% to the BAYC founders and 14% to launch contributors.”

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• GameStop Earmarks NFT Marketplace for July

In their partnership with Immutable X in order to roll out an NFT marketplace, GameStop said the marketplace will include “billions of low-cost, in-game assets that can easily be bought and sold.” 

GameStop has hired employees with experience in e-commerce, technology, and blockchain gaming in order to prepare for the announced marketplace will be launched at the end of July.