
Creating Something Out of Nothing — How the Metaverse Inflates Big Bubbles
Recently there has been a milestone event in the NFT world, all initiated by the team behind the Bored Ape Yacht Club, Yuga Labs. First it acquired the IP of Cyberpunks and Meetbits—Cyberpunks was a pioneer of the NFT market, even one of its creators, while Meetbits was a derivative project of Cyberpunks. Then Yuga Labs launched Apecoin, part of which was airdropped to the holders of all ape-related NFTs (BAYC, MAYC, BAKC). One BAYC could receive a little over 10,000 apecoins. Apecoin is said to play a role in the metaverse project the team will build next. What exactly that role will be is still unclear, but the market…
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