Web3.0 governance token, used in ApeCoin DAO voting mechanism. The ApeCoin DAO members can decide how this intellectual property is used. Whoever holds this coin — controls the ongoing development of the chain, and receives % from the stake size.
62% of all ApeCoin was allocated to the Ecosystem Fund, which will support community-driven initiatives as voted on by ApeCoin DAO members. Yuga Labs has conveyed all rights and privileges to this NFT and its underlying artwork to the APE Foundation.