Bored Ape Yacht Club (BAYC) NFT announced the launch of its own token in Q1 of 2022.
The BAYC NFT team said that firstly, it is stupid easy to launch an ERC-20 token as it takes only minutes. On top of that, the team adds that it’s much more complicated to construct a legally compliant token and set it up in a responsible, sustainable way.
Adding to this, BAYC NFT states, "Not to mention thoughtfully craft dope utility and governance, benefit our club members, and bring the BAYC ecosystem to a much wider audience."
Further, the project adds that for the sake of their members and the broader NFT community, they want to do this in a sound way.
Additionally, BAYC urges its community not to fall any tricks as scammers will try to come up with some phony tokens. Thus, users should also check for the project's official pages.