Bored Ape Yacht Club’s newest merch drop can only be bought with ApeCoin

Image: ApeCoin DAO

According to an announcement in the BAYC Discord server, Bored Ape Yacht Club NFT holders can buy new merchandise items from Yuga Labs, but only if they use the newly-launched ApeCoin. As NFT holders pay for their merchandise, Yuga Labs will get more control over the organization, as they have a large stake in it.

Assuming they can. Users complained that they were having trouble checking out.

Hey everyone, we’re aware of the Coinbase Commerce issues during merch store checkout. They are working on a resolution now. If you encountered payment problems we’ll be following up with next steps soon.

— Bored Ape Yacht Club (@BoredApeYC) March 28, 2022

One user said, "Total shitshow."

This is a small online event relative to the planned development of Otherside, a game meant to connect NFTs. Just my last name.

The in-game currency for Benji Bananas, a game from Animoca Brands, has been used as an in-game currency. In this case, the decentralized and autonomously operated parts seem pretty, uh, arguable.

The control of the DAO has been consolidated by the members who pay in the form of a vote back to Yuga Labs. The company is locked up for a year after being granted 150 million token. Yuga Labs has 80 million token and is locked for a year. Yuga Labs has seven Bored Apes and 10 Mutant Apes. There are two days left to vote on the initial DAO proposals and the launch of the merch and transfer of token to Yuga Labs came as a result.

Users must own a Mutant Ape Yacht Club NFT to access the BAYC store. I don't have a BAYC NFT, so I can't see the store directly, but the items seem to be priced in dollars. They include hoodies, soccer jerseys, hats, sweatpants, and throw blankets. The token holders give their votes to Yuga Labs.

On Friday, Yuga Labs announced the merchandise. After Yuga Labs made its announcement, the price of the coin went up from $13.83 to $15.13.