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This isn’t to say that memecoins can’t flourish – take Dogecoin as an example – but you should always be aware of what you’re getting into when investing in new tokens like APE that ride high on hype. Yuga Labs has indicated that its current focus will be to use APE in the popular play to earn (P2E) model type games that it will help develop in partnership with Animoca Brands, a developer of mobile P2E games. Yuga takes a cut every time a Bored Ape is re-sold, and reportedly earned an impressive $127 million in profits this way last year. (Bored Apes’ lifetime sales exceed $1.5 billion.) This week, Yuga Labs announced that it had raised a fresh $450 million in https://www.xcritical.com/ capital, valuing the company at $4 billion.
What makes $APE different? Benefits of ApeCoin
Not every currency is supported, but keep checking in because new assets are being added often. Zengo provides the most secure payment gateway, which makes it easy to purchase APE tokens with fiat currency, like Euros, US Dollars, and Pound Sterling. As mentioned above, ApeCoin holders are granted governance, meaning as a holder you are entitled voting rights on projects, partnerships, applications, and beyond. It’s a decentralised token that everything you need to know about apecoin can be used for payments and transaction within Web3 apps.
Buy ApeCoin (APE) With Credit Card or Wire Transfer
Maaria Bajwa, a principal at Sound Ventures who serves on the ApeCoin DAO board, insisted that the DAO would be empowered to do meaningful work. A few months ago, a VC friend told me that they are hearing about startups being pressured to offer tokens, for just this reason. Today, let’s talk about an evolution in the way that startups are being funded, and what it means for the companies working to replace the current internet with blockchain technologies.
Does the Foundation control ApeCoin and/or the ApeCoin DAO? If not, what role do they play?
The idea is to smoothen out the initial journey while the DAO community takes shape and has enough of a base to self-govern. ApeCoin (APE) is a utility token on the Ethereum blockchain network. Its beginnings lay with the non-fungible token (NFT) brand Bored Ape Yacht Club (BAYC), which played a significant role in popularising the collectible NFT art markets in 2021. Bored Apes seems like a fun brand, and if any NFT project tokens are going to have lasting value, it may well be Yuga Labs’.
The Metaverse Index (MVI) is designed to capture the trend of entertainment, social activity, and business moving to take place in virtual economies powered by NFTs and blockchain technology. The MVI uses a combination of the square root of market cap and DEX liquidity to arrive at the final index weights. APECoin’s provided utility in the BAYC universe and meets all the inclusion criteria. ApeCoin is designed to be used in any number of web3 and metaverse projects, but perhaps the most notable one (which came soon after ApeCoin’s release) was the release of Otherside land NFTs.
Meanwhile, although BAYC creator Yuga Labs doesn’t control ApeCoin, its founders did receive a significant portion of the total supply of APE and the company is listed as a contributor to the project. Earlier this week, it was announced that members of the Bored Ape Yacht Club NFT collection would be getting their very own cryptocurrency, ApeCoin. Since its launch, ApeCoin APE has grown into one of the world’s leading digital currency platforms, praised for its user-friendly interface and robust security measures.
We offer a range of blockchain wallet development services and also specialize in NFT and DeFi development. Drop us a line to start working on your blockchain wallet app development. Our experts reveal the secrets behind ApeCoin wallet app development, ApeCoin’s full potential, and business and investment opportunities. With your freshly gained knowledge, now it’s on you to decide if you start stacking ApeCoin. But before you get there, you’ll have to set up an account to store it.
Over the past month or so, I’ve seen Bored Apes painted on jackets in fashion boutiques in Miami, and graffitied on walls in Brooklyn. It seems possible that people will enjoy the major-label Bored Apes virtual band, or make real money off the forthcoming Bored Apes play-to-earn game. The company has a thriving business in NFT sales, growing cultural cachet, and billions in value created out of thin air by a new token. As the APE ecosystem continues to grow and expand, it is expected that ApeCoin’s value will also increase.
Explore how the Crypto Generation’s values and tech influence could shape the 2024 election and impact the future of politics. Within the Ape Foundation is an administrative council known as the «Board» which is responsible for implementing the decisions made by the ApeCoin DAO members. This Board is voted in by the ApeCoin DAO members on an annual basis and is not controlled by Yuga Labs. In April 2022, Yuga Labs started minting virtual land in their Otherside metaverse, using ApeCoin for payment. ApeCoin is used to facilitate all transactions taking place in this virtual world.
However, BAYC has dislodged them from the top spots held for many years, at least, in terms of market capitalisation. The ApeCoin DAO hopes to be the decentralised governance mechanism that will build and manage APE’s community all over the world. It is meant to be a fair and objective system to manage the decision-making processes of the collective DAO. A special council was initially formed on the APE Foundation and named the Board.
Moreover, numerous crypto wallets also offer in-app token swapping, enabling you to swap other ERC-20 tokens for APE. For investors, ApeCoin provides investment exposure to the Web3 ecosystem built on the Bored Ape brand. 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.
Use the BitPay Card to instantly convert APE to cash online, in-store or at compatible ATMs around the world. Buy gift cards for your favorite brands and shops from the app or extension. However, it’s important to also consider potential risks when investing in ApeCoin or any cryptocurrency. Cryptocurrencies are highly volatile and their prices can fluctuate rapidly in short periods of time.
ApeCoin will be integrated into the upcoming metaverse Otherside, potentially making it a sought-after metaverse currency this year. This will turn ApeCoin into a transaction token on metaverse marketplaces. If the metaverse includes P2E elements, it could also be used for rewarding players. Let’s take a look at the requirements to open an account on a crypto exchange.
- However, the token’s value later dropped significantly due to market fluctuations and the broader crypto market’s bearish sentiment.
- The total supply of Apecoin is permanently fixed at 1 billion tokens, there are no plans to mint further tokens and APE has been designed with no burning capabilities – essentially cementing this supply cap.
- Every wallet address holding ApeCoin can vote on live proposals by signing the vote on Snapshot (In Favor / Against).
- Certain members of the community that have strong operational experience wereconsulted on how to best structure the ApeCoin DAO.
- With a market cap of almost USD $2 billion on its first day of trading, ApeCoin definitely took the spotlight in the crypto space in recent weeks.
- Among users, partner protocols, and our composable products, Index Coop maintains one of the largest partnership networks in the DeFi ecosystem.
- ApeCoin is used to facilitate all transactions taking place in this virtual world.
Just share your APE wallet address with the person sending the token. To do this, go to the Zengo home screen, select APE, and swipe to the right. The string of numbers and letters that appears is your unique address. After the funds are sent, check for a notification from Zengo when the funds arrive. Zengo’s biometrics and powerful security measures ensure your coins are always safe and no one else can access them.
We aim to create products that are simple to use, accessible to everyone, and secure. APECoin is a crypto token that grants holders governance rights over the Bored Ape Yacht Club DAO. The DAO is an online club for Bored Ape NFT holders, who are considered members of the BAYC community and are entitled to voting rights.
Because ApeCoin was launched by an active and vibrant online community like the Bored Ape Yacht Club, it immediately attracted a steady stream of adopters. People who enjoy gaming, the arts, and other forms of entertainment are more likely to use this cryptocurrency, so its long-term viability is promising. Owners of the Bored Ape Yacht Club and Mutant Ape Yacht Club received ApeCoin first via a claimable airdrop. More than 90% of all eligible addresses reportedly claimed the ApeCoin airdrop within the first two weeks after launch, as claimed by Dune Analytics.
For 25 ApeCoins, you can buy a Benji Bananas Membership Pass, which lets you earn “special tokens” in-game. ApeCoin is an ERC-20 token, a particular flavor of build-it-yourself cryptocurrency on the Ethereum blockchain. Most of the Ethereum-based social tokens that have taken off over the past year (think FWB, for the social club Friends with Benefits, and WRITE, for the Web 3 crowdfunding platform Mirror) are built using this framework.
💰 With every purchase, you will earn Bloom Coins by simply using your Visa card💳. 🦉 All you need to do is download the Bloom app, register an account, link your Visa card and shop anywhere using your credit or debit card. It was originally airdropped🪂 to anyone who owned an NFT that was a part of the BAYC collection, or its cousin collection the Mutant Ape Yacht Club (MAYC). Each holder of a BAYC NFT was able to claim over USD$100,000 worth of APE at launch. Reach out to us at OmiSoft and hire dedicated development teams today.
For instance, there are various fur types, facial expressions, outfits, jewelry, and other accessories in the BAYC NFT collection. Only 49 of the Bored Apes have a dagger in their mouth, 108 have robot eyes, and 115 wear earrings with a cross. The collection’s NFTs are currently worth about $200k each, so if you sold every one of them, you could earn billions of dollars. Additionally, the coin is already used as NFT rewards, and BAYC holders received free APE that they can immediately cash in. Yuga Labs is a contributor to the APE Ecosystem and will assist in the creationof products and experiences for the ecosystem as a whole.