The popular mobile game Benji Bananas will now become a play-to-earn game with the adoption of ApeCoin. This will allow players to earn special tokens as rewards when they play the game.
Benji Banana transitions into P2E game
Its developer, Animoca Brands, announced the transition today and added that players would need to buy Benji Passes to be able to collect the special tokens.
This adoption of ApeCoin has continued a massive run for the token since its launch. ApeCoin was launched a few days after Yuga labs successfully acquired the IP of rival NFT collections from Larva Labs.
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The mobile game has garnered over 50 million downloads on App Store and Google Playstore. The game follows the story of a monkey, Benji, and his friends as they leap through the jungle.
As a play-to-earn game, users will need to have the Benji Bananas Membership Pass, which is available for sale starting from March 17 on the game website. The pass is a nonfungible token that allows owners to earn special rewards when they play the game. Gamers can exchange these rewards for ApeCoin.
ApeCoin and Yuga Labs, any connection?
Per information on ApeCoin’s official website, the token has a total supply of 1 billion and would be distributed in the following way: around 10% would be held by Yuga Labs, 14% would be given to launch contributors, 8% of the coin would be given to the four founders of Yuga labs, and 6% would be donated to Jane Goodall Legacy Foundation.
It was also revealed that holders of BAYC and MAYC can claim the utility token. Available information shows that BAYC holders can claim up to 10,000 units of the coin for every BAYC NFT, while MAYC holders can claim up to 2000 coins per NFT.
According to the APE Foundation, the token will be used for culture, gaming, and commerce.
APE is a token made to support what’s next, controlled, and built on by the community. It will serve as a decentralized protocol layer for community-led initiatives that drive culture forward into the metaverse.
Bored Ape floor price rises
Since ApeCoin launched, the floor price of BAYC has surged by almost 24% to reach 107 ETH ($297,000), while that of MAYC is currently at 23.65 ETH.
The recent rise has been tied to Yuga Labs’ acquisition of CryptoPunks and Meebits IP from Larva Labs. But apart from that, Bored Apes has also entered into a number of partnerships with other developers to expand its ecosystem.
On the other hand, Animoca Brands has been trying to establish itself as a force to reckon with in the gaming and metaverse space.
The Hong Kong-based company is responsible for The Sandbox. It purchased Bored Ape #3749 for 740 ETH in December 2021. Beyond its partnership with BAYC, it has also partnered with K-pop agency Cube Entertainment.
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