Binance to launch Ape NFT staking program

Leading crypto exchange Binance will launch a program that will allow holders of Ape NFTs to earn daily rewards for staking their items on the platform.

The Ape NFT Staking Program is scheduled to launch on December 12 (UTC), and will give users ApeCoin (APE) daily rewards for staking their Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs, Binance said.

The two collections are among the most highly sought-after collectibles.

Users can choose to stake their BAYC and MAYC NFTs for a flexible term or a fixed term of 30, 60, or 90 days. The program is expected to extend to the Bored Ape Kennel Club (BAKC) collection in the near future.

In order to join the program, users will need to deposit Ape NFTs into Binance or purchase Ape NFTs on Binance’s NFT marketplace. The start date of the program is subject to change and Binance will notify on Twitter if this happens.