NFT & Crypto Twitter Insights | Yuga Labs Spotlight, Phishing Scams Rampant
Yuga Labs and Ape Coin were the talk of the entire industry over the last week. Yuga Labs continues to dominate the NFT landscape and doesn't look to have any plans of slowing down. Let's review some of the most important developments of the last week.
ApeCoin ($APE) Has Arrived
In the biggest news of the week, ApeCoin has officially arrived. The official twitter account for ApeCoin started a frenzy on March 16 as the highly anticipated Yuga Labs coin was finally announced.
ApeCoin is owned and operated by the ApeCoin DAO, which is a fully decentralized organization made up of token holders. By holding ApeCoin, you are entitled to vote on governance and use of the Ecosystem Fund. At the start, 15 percent of the total supply was claimable if you held a Bored Ape or Mutant Ape. Bored Ape Kennel Club holders received an increase in claimable coins if paired with a Bored Ape or Mutant Ape, but sole Kennel Club holders did not receive an $APE allocation.
The total supply of $APE is capped at 1 billion tokens. The initial token claim for holders was broken down as below:
- Bored Ape only - 10,094 Tokens
- Mutant Ape Only - 2,042 Tokens
- Bored Ape + Kennel Club - 10,950 Tokens
- Mutant Ape + Kennel Club - 2,898 Tokens
Learn more about ApeCoin here.
Introducing ApeCoin ($APE), a token for culture, gaming, and commerce used to empower a decentralized community building at the forefront of web3. 🧵— ApeCoin (@apecoin) March 16, 2022
Yuga Labs Look Ahead
Yuga Labs has dominated the NFT headlines over the last week. Atareh breaks down possible future plans for Yuga Labs based on a leaked pitch deck that has made its way around.
All of the below is possible to change as it is has not been 100% confirmed by Yuga Labs.
We shared some more of these details as well. You can read them here.
It seems, Yuga Labs is building games with a marketplace all powered by ApeCoin. If it is true that Yuga is building a platform for the decentralized metaverse, there could be massive implications.
Atareh anticipates Yuga Labs to build a platform akin to Apple Store or Google Play.
The first game built on ApeCoin looks to be "Otherside," which is expected to have an upcoming land sale.
10 interesting things I learned about how Yuga operates from their deck— atareh.eth (@atareh) March 20, 2022
Phishing Scams Run Rampant
As mentioned in the above posts ApeCoin dominated the news this past week. Unfortunately, when something draws this much headline news the bad actors will look to capitalize. Zachxbt takes a look at some of the phishing scams running rampant on twitter.
Scammers set up a phishing site and purchased hacked verified twitter accounts. Zachxbt reiterates that multiple different forms of this phishing scam have popped up from verified twitter accounts.
Always be extra cautious when following any external links and connecting your wallet. If you ever have any doubt you can revoke approvals by using revoke.cash. It is important to exercise extra caution whenever possible as this industry continues to grow.
1/ Yesterday BAYC announced the $APE token. Shortly after scammers set up a phishing site & bought hacked verified Twitter accounts. They began using bots to tag people in the replies. pic.twitter.com/MdBsfI9i78— zachxbt (@zachxbt) March 17, 2022