Keeping Tabs On The Lab #17
To the Bored,
Good evening and thank you for reading the seventeenth edition of the Bored Ape Gazette’s Keeping Tabs On The Lab newsletter.
It is going to be a big week and a huge month around the swamp as DooKey Dashers prepare to participate in the Summoning event tomorrow; TwelveFold auction winners begin to receive their NFTs today; Voyagers get ready to break on through to the Otherside later this month; and the ApeCoin DAO’s staking system kicks off its second quarter rewards!
Without further ado, let's ape into the news and keep tabs on Yuga Labs!
After two tours of dooty in the sewers underneath the swamp, DooKey Dashers’ scores have been locked and the conditions are looking just right for Gary the Dog Prophet to perform the Summoning ceremony tomorrow.
In total, 25,691 Sewer Passes are eligible to participate in the Summoning event tomorrow, according to Opensea data.
While the BAYC has not confirmed much about the Summoning, we do know that each Sewer Pass holder will be summoning a unique “Power Source” and that the event will utilize a burn mechanic.
“Every summoning will result in a unique power source that will consist of traits of varying rarity,” the BAYC’s parent company Yuga Labs wrote on its Summoning FAQ page. “Your power source won't look exactly the same as any others.”
Further, Yuga Labs has also explained that DooKey Dashers will want to participate in the Summoning event so they can participate in the company’s upcoming activations and level up their power sources going forward.
“You'll want to summon your power source so that it can be utilized in the future mini-game sets to reach the Evo 2 stage and beyond,” the club wrote.
Take a look at the Evolution progression chart that the club shared on its MDVMM website earlier this year:
Many in the community believe that the power sources that Dashers’ will summon during the event on March 15th will tie into Gary the Dog Prophet’s “The Future” drawing of Mecha Apes from January 19th, based on a tweet from the club’s Co-Founder, Garga.
“Get in nerds we’re going to summon something,” Garga tweeted at the time as he retweeted Gary’s drawing.
As DooKey Dashers get ready to summon something new tomorrow, Yuga Labs’ TwelveFold buyers have started to receive their bitcoin based NFTs!
Last week, Yuga Labs sold 288 pieces from its 300-piece generative art collection, TwelveFold, for 735 BTC Or $16.5M USD. Today, the company announced that each work of art has been inscribed onto the Bitcoin blockchain and that buyers will begin to receive their NFTs soon.
“TwelveFold pieces have been inscribed and will be sent to the winning bidders throughout today,” Yuga Labs tweeted. “We will hold on sending pieces to those addresses that have prior BTC balances. If you have questions or concerns, reach out to support@yugalabs.io.”
Yuga Labs’ TwelveFold project was designed to represent the cycles of the cryptocurrency market, according to the artist, Michael Figge.
“TwelveFold is a base 12 art system localized around a 12x12 grid,” Figge tweeted on March 5th. “The collection of 300 inscriptions is made up of 25 different series of 12, each with their own motif. Each series maintains a theme spread across 12 unique pieces. Like crypto, the collection isn't so much linear but cyclical, with four different color palettes progressing throughout: winter, spring, summer, autumn. It's a nod to being optimistic whether we're in a Crypto Winter or a Defi Summer. Every TwelveFold piece will be inscribed onto a Satoshi with a Satpoint ending in the number 12, and the ‘postage’ associated with each inscription will be 12121.”
Take a look at some of Yuga Labs’ TwelveFold pieces below:
Looking ahead, Yuga Labs announced last week that Voyagers will be heading back to the Otherside for the second Trip to the company’s metaverse on March 25th.
“2nd Trip will bring Voyagers into Otherside for an interactive gaming experience led by our first ever Otherside Team Captains,” Yuga Labs tweeted from its OthersideMeta account. “Details on Team Captains will be shared at a later date. Otherdeed holders will also have the opportunity to invite a guest into 2nd Trip. Otherdeed holders will have priority access. Guest passes are not guaranteed entry. We are also expanding the playable region list from First Trip, allowing more Voyagers from around the globe to participate in the event. Everybody is invited to watch along on our official livestream.”
Finally, the ApeCoin DAO’s staking system kicked off its second quarter rewards yesterday. During this time, the protocol will distribute 30 million $Ape to stakers over the next three months!
This 30 million $Ape will be distributed between the DAO’s four staking pools with 9,000,000 $Ape going to the $Ape only Pool, 14,131,500 $Ape going to the BAYC Pool, 5,718,000 $Ape going to the MAYC Pool, and 1,150,500 $Ape going to the BAKC Paired Pool, according to ApeStake.io.
Overall, the ApeCoin DAO is set to distribute 100 million $Ape as a reward to stakers over the system’s first year as laid out in AIP 21& AIP 22.
Thank you so much for reading this week’s edition of Keeping Tabs On The Lab and make sure you follow the Gazette on Twitter @BoredApeGazette for the latest news from the swamp!
Sincerely,
Kyle
Editor-In-Chief