Binance has unveiled the debut of its Ape NFT Staking Program today, December 12.
It allows Binance users to stake their Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC) NFTs over a flexible or fixed term of 30, 60, or 90 days.
Those who stake their NFTs created by Yuga Labs can earn ApeCoin (APE) daily rewards up to 199% APR.
Users who list Yuga Labs-based NFTs on Binance NFT Marketplace during the activity period will also be able to share a rewards pool of up to 10,000 APE.
This initiative comes after Binance announced the integration of OpenSea NFTs on its NFT marketplace to allow cross-platform purchasing and streamlined checkout.
ApeCoin has garnered considerable gaming attention and interest from the NFT community since its launch in March, when it was selected by BAYC as the main token for its ecosystem.
This is further shown by the recent launch of ApeCoin DAO’s NFT marketplace, which includes BAYC, MAYC, and other Yuga Labs-owned NFT collections, as well as the fact that companies such as Gucci and BetOnline have already begun accepting the token as payment.