What Is ApeCoin? Features, Tokenomics and Price Prediction

What Is ApeCoin? Features, Tokenomics and Price Prediction

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ApeCoin is being airdroped to holders of Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and additional ones are allocated to holders that also have dog – the Bored Ape Kennel Club (BAKC). Holders can begin claiming their APE token as of March 17, 2022 on the ApeCoin website. APE has a circulating supply of 284,843,750 APE coins and a maximum supply of 1 billion APE coins.

ApeCoin allows users to invest in various NFTs without purchasing them directly. Instead, users can purchase ApeCoin, which can then be used to invest in any number of NFTs. This gives users a way to diversify their investment without putting all of their eggs in one basket.

Speaking of which, all NFTs released by Yuga Labs in the future will be minted with ApeCoins. This already happened with Otherdeed NFTs—land plot NFTs costing 305 APE a piece when launched. In turn, greater utility translates to increased token value because it can be used for more things, increasing the demand for the token, which increases its price. Let’s look at the NFT collections that are related to the APE ecosystem. In line with the Trust Project guidelines, the educational content on this website is offered in good faith and for general information purposes only.

He told Decrypt that the idea is to drive more adoption for the Bored Ape Yacht Club-themed token, tapping into the hundreds of projects that are currently alive within its community. You can learn more about him on the About Page or on his personal site RobertFarrington.com. If you simply want to buy APE, there are a few ways that you can do it right now. Many exchanges are building support, and you can also purchase APE on DeFi swaps. The parent company, YugaLabs, also recently acquired CryptoPunks and Meebits, two other very popular NFT projects.

However, the reality is that today a
DAO cannot sign a lease or hire people or make merch or whatever the community
decides to do on its own. The Foundation is responsible for the day-to-day
administration, bookkeeping, project management, and other tasks that ensure the
ApeCoin DAO community’s ideas have the support they need to become a reality. Culture has found new expression in web3 through art, gaming,
entertainment, and events. The possibilities for blockchain’s impact on culture
are so endless that they can’t possibly all be predicted yet.

  • For example, a staking function for APE HODLers to earn passive income, more GameFi applications, or even collaborations with the other NFT IPs Yuga Labs owns.
  • And when you look at the roadmap of ApeCoin, it’s clear they are trying to build an ecosystem for their brands to both interact and trade – likely using APE as the fundamental token.
  • ApeCoin holds an essential role as the de facto currency for Otherside, BAYC’s upcoming metaverse.
  • APE has a circulating supply of 284,843,750 APE coins and a maximum supply of 1 billion APE coins.
  • For example, ApeCoin will be used for a play-to-earn mobile game, Benji Bananas, owned by nWay.
  • This airdrop has been one of the most anticipated in the NFT community due to the massive popularity of the Bored Ape Yacht Club brand.

These seemingly-ordinary looking artworks attracted extraordinary attention. Some of them even sold for hundreds of thousands of dollars with a customer list, including Justin Bieber, Eminem, Jimmy Fallon, etc. One of the governance and utility tokens that serve the Bored Ape Yacht Club and related communities is ApeCoin (APE). It allows holders to participate in the ApeCoin DAO as a governance token. APE holders can also access exclusive features of the APE ecosystem, including games, merch, events, and services.

Launched in April 2021, Bored Ape Yacht Club (BAYC) is the first NFT collection of the APE ecosystem. The APE ecosystem is made up of the community holders of ApeCoin, and all products & services utilizing APE. The Ape Foundation is essentially the bedrock upon which ApeCoin holders and ApeCoin DAO what is apecoin members can continue to grow. The primary aim of the Foundation is to promote the equitable development of the APE ecosystem. The next 16% (160 million tokens) was distributed to Yuga Labs itself (150 million tokens) and 10 million tokens (or equal value) went to the Jane Goodall Legacy Foundation.

what is apecoin

ApeCoin’s primary use is as a governance and utility token within the APE ecosystem. It allows holders to participate in DAO governance votes while also offering access to members-only features of the ecosystem like games, events and other services. APE is governed by the ApeCoin DAO and supported by the APE Foundation.

The ApeCoin community works on several projects to bring blockchain technology to the masses. These projects include a decentralized exchange, a mobile wallet, and a point-of-sale system. The project was developed to reward users for participating in the Bored Ape Yacht Club (BAYC) NFT collections. It also has the potential to be used as a currency on the Ethereum blockchain.

what is apecoin

Acclaimed as a creator of the Bored Ape Yacht Club, Yuga Labs serves as a community member in the ApeCoin DAO. They have adopted ApeCoin as their primary token in the projects they undertake. Let’s learn concise information about the NFT collections that are a part of the APE ecosystem.

The Otherside metaverse is an ordinary, bright, and diverse landscape. 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 https://www.xcritical.in/ ($APE) was required for participating in this highly awaited metaverse to mint Otherdeeds. ApeCoin will be the default currency for all things related to the Bored Ape community. In late April 2022, YugaLabs launched an auction for “land” in the Otherside.

As the serum is used up, each BAYC can only make one mutant using a single variety of it. As they progressed through the serum levels, BAYC bearers might create a wide range of mutant apes. Furthermore, ApeCoin will facilitate web3 in the APE network, allowing creators to sell their digital artworks and various industries, including games, entertainment, and events.

8% of the tokens have been set aside for the four founders of Yuga Labs and BAYC. ApeCoin follows the concept of locked tokens to prevent Yuga Labs, the founders of BAYC, and other launch contributors from selling their holdings. After this duration, a specific allotment of tokens becomes accessible to them on a monthly basis. Depending on your mood and choice, you can choose these apes down to the tiniest details. Investors across the world have put their money into these artworks and the buyers include the likes of Justin Bieber and Eminem. Machi Big Brother(@machibigbrother) has been buying $APE almost every day since Aug 2, with a total of 4.73M $APE ($7.43M, the average cost is $1.57).

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