NFT Collectibles News

Yuga Labs Drops Monkey Merchandise in Exchange for ApeCoin

Revered society of perpetual primates, the Bored Ape Yacht Club, has gone supernova with its new merch drop, allowing holders of its infamous collectibles to swap their newly acquired $ApeCoin for things and stuff.

According to sources, owners of both the Bored and Mutant Apes can redeem their sweet coin for a wide range of real-world goods. Therefore, lining the shelves, collectors can find hoodies, hats, sports apparel and comfort blankets, each adorned with simian designs and the familiar monkey-themed logos.

Response to the drop has been a mixed bag. As such, some collectors snapped up the ape wearables with ardent enthusiasm, while others remain unimpressed by the unreliable platform and failed transactions. Going further, one disgruntled participant labelled the whole thing a ‘shitshow’.

The more skeptical cross section of ape society however, questions the motives of Yuga Labs, the company behind the operation. The recently launched ApeCoin also provides governance opportunities via the ApeDAO, something fans have been keen to point out is neither decentralized, or autonomous.

Through this DAO, holders of the aforementioned ApeCoin will receive voting rights on company decisions, while the Yuga Labs merchandise operation will hand those governance tokens right back to the company in charge.

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