wp-plugin-hostgator domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114ol-scrapes domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source: https:\/\/www.theverge.com\/2022\/3\/28\/23000264\/apecoin-bored-ape-yacht-club-bayc-merch-dao<\/a> Bored Ape Yacht Club NFT holders can buy new merchandise items<\/a> from Yuga Labs \u2014 but they can only use the newly-launched ApeCoin to do it, according to an announcement in the BAYC Discord server. Yuga Labs, which has a large stake in the organization backing ApeCoin, will get more ApeCoin (and more control over the organization) as NFT holders pay for their merch.<\/p>\n That is, assuming they can. Continuing cryptocurrency\u2019s trend of \u201cmoney but worse,\u201d users complained they were having trouble checking out.<\/p>\n Hey everyone, we\u2019re aware of the Coinbase Commerce issues during merch store checkout. They are working on a resolution now. If you encountered payment problems we\u2019ll be following up with next steps soon.<\/p>\n \u2014 Bored Ape Yacht Club (@BoredApeYC) March 28, 2022<\/a>\n<\/p><\/blockquote>\n<\/div>\n \u201cTotal shitshow,\u201d one user said.<\/p>\n \u201cNot fudding and I am a happy owner, but this is a very small online event relative to building a metaverse,\u201d another said, referencing the planned development of Otherside<\/em><\/a>, <\/em>a game meant to connect NFTs. \u201cWould like to see much more thorough testing and smooth customer experiences before larger drops take place. Just my .02.\u201d<\/p>\n The merch drop highlights something strange about ApeCoin, which, so far, has been used as an in-game currency for Benji Bananas<\/em>, a game from Animoca Brands<\/a>. ApeCoin is also a way to vote in the ApeCoin DAO \u2014 DAO is short for \u201cdecentralized autonomous organization,\u201d though, in this case, the decentralized and autonomous parts<\/a> both seem pretty, uh, arguable.<\/em><\/p>\n Members who pay in ApeCoin are essentially giving their ApeCoin DAO vote back to Yuga Labs, further consolidating Yuga Labs\u2019 control over the DAO. The company has been granted 150 million tokens<\/a>, but they are locked up for a year. Yuga Labs\u2019 founders get 80 million tokens, which are also locked for a year. Additionally, Yuga Labs owns seven Bored Apes and 10 Mutant Apes. The merch launch \u2014 and transfer of tokens to Yuga Labs \u2014 comes as there are two days left to vote on the initial DAO proposals.<\/a><\/p>\n In order to access the BAYC merch store, users must own a BAYC or Mutant Ape Yacht Club NFT. Based on screenshots in the Discord \u2014 I don\u2019t have a BAYC NFT, so I can\u2019t see the store directly \u2014 the items appear to be priced in dollars. They include hoodies, soccer jerseys, hats, sweatpants, and throw blankets. Token holders who pay Yuga Labs in ApeCoin essentially handing over their DAO votes to Yuga Labs.<\/p>\n Yuga Labs initially announced the merchandise on Friday at 1:57PM PT. After Yuga Labs made its announcement, ApeCoin rose from $13.83 at 2PM PT on March 26th to $15.13 at 12:33PM PT today, according to Coinbase<\/a>.<\/p>\n<\/div>\n
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