announced The official Twitter page of the Bored Ape Yacht Club – which has a pool of 10,000 NFTs – says it expects to launch its own cryptocurrency in the first quarter of 2022.

The Bored Ape Yacht Club’s Twitter post read:

Launching an ERC-20 cryptocurrency would be foolish, as it takes minutes.

Creating a legally compliant digital currency and setting it up in a responsible and sustainable manner is more complex.

According to the Bored Ape Yacht Club team, legal standards, as well as other concerns such as utility, governance, and audience reach, are what make launching a digital currency difficult.

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However, the Bored Ape Yacht Club team is working in partnership with Fenwick West to control legal matters, while the technical part will be supervised by the company, Horizon Labs, which specializes in developing blockchain software.

Bored Ape Yacht Club will be one of the first large-scale NFT projects to launch a digital currency.

It is worth noting that the “Loot” project, an NFT project, has previously launched a digital currency called “AGLD”, which is a digital currency based on Ethereum that was distributed free of charge to “Loot NFT” holders.

A member of the “Loot” community built the digital currency, and left the “Loot” community to determine the use cases of the currency after launch, according to the website “Loot”CoinDesk“.

While details about the “Bored Ape Yacht Club” digital currency have not yet emerged.

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