What Is ApeCoin? Features, Tokenomics and Price Prediction

Holding APE makes you a member of the DAO (that’s short for decentralized autonomous organization, a kind of online collective centered around crypto); you don’t even need to own a Bored Ape NFT to join. Governance is another significant highlight in the discussions around ApeCoin and its potential. ApeCoin serves as the governance token of the Bored Ape ecosystem, and ApeCoin owners have the https://www.bewcastle.com/gallery/ privilege of joining ApeCoin DAO. ApeCoin protocol enables access to different parts of the ecosystem, which you would have faced considerable difficulties in accessing. For example, the ApeCoin crypto can work as a gateway to exclusive services, games, events, and merchandise. ApeCoin is a new addition to the crypto ecosystem and draws many references to the use of non-fungible tokens.

what is apecoin

Locked tokens will be unlocked over a
period of 48 months, in accordance with the predetermined unlock schedule in the
chart below, starting on launch day, March 17, 2022. The goal of the APE Foundation is to steward the growth and development of the
APE ecosystem in a fair and inclusive way. If you would like to know where to buy ApeCoin at the current rate, the top cryptocurrency exchanges for trading in ApeCoin stock are currently Binance, BlueBit, LBank, 4E, and Bitget.

As airdrop season returns, find out what the trends in airdrop prices are & when you to sell airdrop tokens. As a rule of thumb; do well to carry out your own research before investing in cryptocurrency and NFT projects. While the rest of the projects won’t see billions unlocked, they’re still notable events with millions entering the market. Between these two projects, already just over $2.5 billion will be entering the crypto market. On May 15, 827.6 million AEVO tokens ($1.24 billion) will be dropped into the market.

Following the enormous success of BAYC NFTs and the demand that accompanied them, Yugalabs introduced the Mutant Apes (MAYC) as a variant of the BAYC. In addition to the 10,000 BAYC NFTs, Yugalabs released 20,000 MAYC NFT collectibles. Of these, half were sold in a public auction, while the rest were created by BAYC holders, who “exposed” their Bored Apes to airdropped “mutant serum,» which added new attributes to their Bored Apes.

For those who don’t hold a Bored Ape NFT and didn’t help bring the Bored Apes or ApeCoin to life, the token is currently trading on an array of cryptocurrency exchanges. After being officially revealed just yesterday, ApeCoin (APE)—the Ethereum-based token for the growing Bored Ape Yacht Club ecosystem—is now flowing. Launched today for NFT holders to claim, some 93 million tokens have already been snagged. In today’s market, something like ApeCoin needs to show real value to remain relevant.

what is apecoin

The founders of ApeCoin are officially referred to as “The Ape Foundation.” While the site holds a secretive tone, YugaLabs does have some involvement. One of the main founders of BAYC, Greg Solano, just spoke at Benzinga’s Future of Crypto event about some of his ideas and inspiration. The original BAYC collection was developed by Yuga Labs, a company founded in February 2021 and whose three collections—BAYC, MAYC, and the Bored Ape Kennel Club (BAKC)—helped drive $127 million in revenue that year. Yuga Labs is led by CEO Nicole Muniz, who is a former partner at advertising company B-Reel and founder of her own boutique consulting agency. José is a copywriter and journalist with over 4 years of experience in the crypto field.

The ApeCoin follows the ERC-20 token standard and serves as a utility as well as governance token within the Bored Ape ecosystem. As a utility token, it helps in purchasing goods and services according to your requirements. Cryptocurrencies, like ApeCoin, are decentralized digital assets that typically act as a proxy for the success of a particular crypto project.

The current CoinMarketCap ranking is #103, with a live market cap of $738,705,305 USD. ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3. The governance process is completely driven by the community and suggestions that pass the community voting stage will be implemented, if feasible.

what is apecoin

As one of the popular NFT collections, it has become more than an assortment of digital cartoon characters. The BAYC ecosystem has recently come up with ApeCoin APE for delivering something of utility to the community owners. After all, many experts in the domain of crypto and NFTs have pointed out how ApeCoin can deliver favorable advantages. ApeCoin is an ERC-20 token operating on the Ethereum blockchain that enables holders to gain access to a variety of products and services offered by the APE ecosystem and vote on the future direction of the Web3 project. Decentralized exchanges are smart contract-powered online trading platforms that enable users to trade crypto on a peer-to-peer basis without the need for a central authority.

The only difference is that you use U.S. dollars to buy and sell cryptocurrencies instead of traditional financial investments, such as stocks and bonds. Meanwhile, developer nWay announced that it will use APE in an upcoming play-to-earn game based on the Bored Ape Yacht Club, while Animoca’s unaffiliated Benji Bananas game will implement APE for token rewards. ApeCoin DAO has said that some future functionality will be reserved exclusively for APE holders, such as upcoming games and services. And because ApeCoin is governed by a DAO, holders will have the ability to vote on community-led proposals that determine the future of the token. For example, there are already governance proposals regarding things like ecosystem fund allocation and staking rewards.

what is apecoin

It consists of 200,000 parcels of “land” that can be acquired by the purchase or minting of “Otherdeeds” — non-fungible tokens that serve as title deeds for the parcels of virtual land. ApeCoin ($APE) was required for participating in this highly awaited metaverse to mint Otherdeeds. A special council on the https://petworld.ru/page/27 APE Foundation (the DAO’s “Board”) provides, at the behest of the ApeCoin DAO members, oversight of the Foundation administrators. The purpose of the Board is to administer DAO proposals and serve the vision of the community. It meets on proposals requiring administrative review under ApeCoin DAO rules.

  • In addition to its use in network governance, APE is meant to be used as a utility token—or currency—in web3 projects like games and metaverse worlds.
  • Furthermore, ApeCoin will facilitate web3 in the APE network, allowing creators to sell their digital artworks and various industries, including games, entertainment, and events.
  • The majority of the cliff unlock will be released as an airdrop while the linear unlock will mostly flow into the ecosystem and investors.
  • For original Bored Ape owners, the 10,094 tokens comes out to more than $80,000 worth of ApeCoin, as of this writing.
  • The idea for the apes in the Bored Ape Yacht Club came from the history of people in cryptocurrency calling themselves “apes.” Furthermore, 36 investors have invested heavily into Yuga Labs.

It is a favorable platform enabling third-party developers to join the ecosystem. Developers can receive incentives for integration of APE in their new games, projects, or other services. You must notice that ApeCoin works in accordance with the ERC-20 token standards. The token serves the functions of a utility and governance token for use within the APE ecosystem.

Cryptocurrency experts typically advise investors against leaving funds on a centralized exchange because exchange bankruptcies can lead to a complete loss of assets held with the company. Crypto exchanges typically require you to make a minimum deposit, ranging from $10 to $20. However, there are a handful https://cherryblossomfest.org/?atw_slider_post=japanese-community-market-2 of trading apps that allow you to purchase crypto for as little as $1. Once you have funded your account, you click on ApeCoin in the list of tradable assets and place an order to buy the amount of APE you would like to purchase. Verify that all the order details are correct and confirm the transaction.

From a governance token to a store of value in an otherworldly ecosystem, it is hard not to build fantasies about what the future holds for BAYC, ApeCoin, and the Otherside metaverse project. Yet, it is important to be conscious of the fact that these ideas are built using emerging technologies. They are at a stage where constant and sometimes, ‘unfavorable’ developments are made. That being said, each of these developments (as it concerns BAYC and Yugalabs) will be relevant to ApeCoin’s expanded utility. As a governance token, ApeCoin holders will be at the helm of affairs of the ApeCoin ecosystem and its development plans. Over 6,500 members of the ApeCoinDAO have collectively voted in favor or against proposals for the improvement of the ApeCoin ecosystem or the development of new financial systems or technologies.

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