Deciphering the Metaverse: The next epoch of PFP projects

Throughout history, nascent markets have given birth to category-defining businesses. Time after time, experimental start-ups have matured into dominating powerhouses in an idiosyncratic fashion. As iconic epitomes, these companies have capitalized on their strengths and have risen to the top of their respective industries. Along the way, they have consolidated power and have shaped the market’s trajectory by exerting their influence.

After its spectacular acquisition of the CryptoPunks and Meebits IPs two weeks ago, Yuga Labs, the Bored Ape Yacht Club (BAYC) creator, upped the ante by releasing its ApeCoin (APE) token on March 17th, with 15% of the token supply airdropped to NFT holders of the BAYC ecosystem.