Token

Coin

<ul class="wp-block-list news-points"> 
 <li>DeGods’ token surged to a $330M market cap, then dropped to $70M within hours.&nbsp;</li> 
 <li>Liquidity snipers and scams plagued the DEGOD launch, causing massive trader losses.&nbsp;</li> 
 <li>Yuga Labs refuses to tokenize BAYC NFTs, resisting the growing NFT-token conversion trend.</li> 
</ul> 
Yuga Labs is taking a firm stance against converting its Bored Ape Yacht Club (BAYC) <a href="https://x.com/GordonGoner/status/1835539659264606522" target="_blank" rel="nofollow">NFTs to tokens</a>, even as the recent DeGods token launch faces challenges. The DeGods token soared to a $330 million market cap before crashing, leaving some investors with significant losses and opening the door for scammers who made off with $150,000. 
<h2 class="wp-block-heading" id="h-yuga-labs-co-founder-rejects-tokenization">Yuga Labs Co-Founder Rejects Tokenization</h2> 
Yuga Labs co-founder Wylie Aronow, also known as Gordon Goner, reiterated his opposition to tokenizing BAYC assets, emphasizing the importance of maintaining their authenticity. His comments come as NFT-to-token conversions gain popularity, with projects like DeGods embracing this strategy. 
<a href="https://coinedition.com/yuga-labs-partners-with-artist-nina-chanel-unveils-airdrop-plans/">Reda also: Yuga Labs Partners With Artist Nina Chanel, Unveils Airdrop Plans</a> 
The DeGods token launch encountered turbulence after losing 75% of its value, sparking debate within the NFT and crypto communities. DeGods’ creator expressed fr…
The post <a href="https://coinedition.com/yuga-labs-stands-firm-on-bayc-nfts-as-degods-token-faces-challenges/">Yuga Labs Stands Firm on BAYC NFTs as DeGods Token Faces Challenges</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Yuga Labs Stands Firm on BAYC NFTs as DeGods Token Faces Challenges

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