Exchange of cryptocurrencies Coinbase has announced that it is developing “The Degen Trilogy,” a three-part film based on the popular non-fungible token (NFT) collection Bored Ape Yacht Club (BAYC).
The team behind Bored Ape Yacht Club (BAYC), Yuga Labs, explains this NFT collection as follows:
“BAYC is a collection of 10,000 Bored Ape NFTs—unique digital collectibles living on the Ethereum blockchain. Your Bored Ape doubles as your Yacht Club membership card, and grants access to members-only benefits, the first of which is access to THE BATHROOM, a collaborative graffiti board. Future areas and perks can be unlocked by the community through roadmap activation…
“Each Bored Ape is unique and programmatically generated from over 170 possible traits, including expression, headwear, clothing, and more. All apes are dope, but some are rarer than others. The apes are stored as ERC-721 tokens on the Ethereum blockchain and hosted on IPFS. (See Record and Proof.) Purchasing an ape costs 0.08 ETH.“
And this is how Coinbase announced the future film it is making on Twitter:
Owners of Bored Ape NFTs are encouraged to submit their apes for casting. If their apes are chosen, they will be compensated with up to $10,000 in Bitcoin or ApeCoin ($APE) deposited into their Coinbase account. Note that this one-time payment will only go to the individual who submitted the chosen ape; future owners of that ape will not gain any financial benefits from Coinbase.
Coinbase does not anticipate making money from this film:
Owners of NFTs from the Mutant Ape Yacht Club (MAYC) will be able to submit their Mutant Ape characters for casting for part two of this trilogy, according to the BAYC team.
Coinbase is hoping that by releasing this film, it would be able to promote its impending NFT marketplace
Madonna, the 63-year-old American pop music superstar, was one of the most recent celebrities to join the Bored Ape craze, posting on Instagram on March 24 that she had “joined the metaverse” by purchasing Bored Ape #4988. So, A monkey wearing a “S&M” hat, chain, and sleeveless t-shirt appears in the NFT cartoon.
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