Yuga Labs, the developers behind the wildly famous Bored Ape Yacht Club (BAYC) NFT, have announced that the BAYC will be getting their own token; the ApeCoin.
With the release of the new token, Yuga Labs is keeping their distance from the launch, having the coin be directly related to the ApeCoin DAO and the Bored Apes project as a whole.
It is still unclear what the coin will offer, but it’s speculated that the coin will serve as an in-game token for games Yuga Labs has in the works for the near future.
Spotify Enters the Crypto Chat
It seems that popular music streaming service Spotify is developing their web3 plans, as some internet sleuths uncovered the company is hiring positions related to the web3 space.
Spotify declined to comment on their web3 ventures, but the evidence is there. Now that household names such as Instagram, Universal, and Snoop Dogg are getting in on the NFT action, the demand to get into the space is vast. Surely Spotify is taking note, trying to calculate their move to become the biggest music streamer in web3.
Back in 2019, Daniel Ek, Spotify’s chief exec said on a company podcast that “a service like Spotify” would ”be able to pay artists directly.”
He went on to say in the podcast, “That can open up massive opportunities where all of a sudden, a user in Japan might pay a creator in Argentina. And that opens up huge opportunities for how we can further our mission.”
In a move that is being hailed as a game changer for the entertainment industry, Warner Bros. Home Entertainment has announced the launch of the WB Movieverse with The Lord of the Rings: The Fellowship of the Ring (Extended Version) Web3 Movie Experience NFT. This groundbreaking new release will allow fans to engage with the film in ways never before possible!
Reddit has onboarded millions of new users to NFTs during a bear market. Read on to learn more.