Crypto exchange Coinbase has announced that is working on a three-part movie called “The Degen Trilogy” based upon the highly popular non-fungible token (NFT) collection Bored Ape Yacht Club (BAYC).
Here is how Yuga Labs, the team behind Bored Ape Yacht Club (BAYC), describes this NFT collection:
“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 made the announcement on Twitter about the upcoming movie that it is producing:
Coinbase is urging owners of Bored Ape NFTs to submit their apes for casting, If their apes are chosen, they will receive compensation: up to $10,000 in Bitcoin or ApeCoin ($APE) will be deposited into their Coinbase account by Coinbase. Note that only the person that submitted the chosen ape will receive this one-time payment and future owners of that ape will not receive any financial benefits from Coinbase.
Coinbase does not expect to making a profit from this movie:
According to the BAYC team, 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.
Coinbase is hoping that this movie will serve as a good way to promote its upcoming NFT marketplace.
One of the latest celebrities to join the Bored Ape craze was 63-year old American pop music icon Madonna, who on March 24 published an Instagram post saying that she had “entered the metaverse” via the acquisition of Bored Ape #4988. The NFT cartoon features a monkey sporting an “S&M” hat, chain and sleeveless t-shirt.
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