What is ApeCoin APE? All About APE Token

In fact, each holder of a BAYC NFT was able to claim over $100,000 worth of APE at launch. The ApeCoin community works on several projects to https://cryptonews.wiki/bitcoin-botnet-hack-forums-gamertagsfind-best/ bring blockchain technology to the masses. These projects include a decentralized exchange, a mobile wallet, and a point-of-sale system.

The popularity of BAYC led to athletes, musicians, and actors purchasing Bored Ape NFTs to use as profile pictures on social media, adding to the cult status of Bored Apes as profile picture (PFP) NFTs. As one of the early investors, Yuga Labs receives a portion of the token distribution. ApeCoin holds an essential role as the de facto currency for Otherside, BAYC’s upcoming metaverse. Otherside was announced on March 18th, 2022 in an official Tweet from the BAYC team. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.

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Any action taken by the reader based on this information is strictly at their own risk. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated. ApeCoin will also be used to buy games and merchandise, attend events, and receive services. It also handles proposal management, and “other tasks that ensure the DAO community’s ideas receive the support to become a reality.” It provides legal support for ApeCoin DAO.

For example, people have placed their apes on a microbrewery, on a coffee brand, and as their DJ logo. There is even a virtual band that has used 3 apes to represent themselves. Copyright ownership was a key factor in helping the bored apes break away from thousands of other collections. Buy, sell, and exchange $APE along with 160+ other cryptocurrency coins and tokens at Easy Crypto. ApeCoin (APE) is an ERC-20 token that operates on the Ethereum blockchain.

  • However, investors should approach Floki Inu (FLOKI) with caution as the meme coin domain is highly volatile and heavily influenced by market sentiment.
  • During its first days of trading, APE experienced massive volatility, reaching a high of $39.40 in just five minutes after going public, then dropping 80% the next day.
  • Despite its fluctuating price and market size, it’s intriguing to see how ApeCoin (APE) will be employed in web3.
  • Of the total supply, 15% of tokens were made immediately available to the BAYC and MAYC NFT holders upon launch, and 47% of tokens went to the DAO treasury.

It provides a much-needed solution for investing in NFTs and has a strong community behind it. With its roadmap and plans for the future, ApeCoin is one to watch out for. Cryptocurrency https://cryptominer.services/what-is-agile-testing-methodology-process-life/ 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.

10. Ape Coin’s birth through NFT Mania

Yuga Labs is the creator of the trending Bored Ape Yacht Club (BAYC) NFT collections. It also owns the IP of another two popular NFT projects, CryptoPunks and Meebits. APE is governed by the ApeCoin DAO and supported by the APE Foundation. With APE, token holders can vote on governance proposals on the DAO and access https://crypto-trading.info/day-trade-crypto-strategy-day-trade-em-stellar/ exclusive features of the APE ecosystem, such as games, events, and services. While it’s generally safe to deposit cryptocurrency on large exchanges, keeping most of your assets in a hardware wallet is preferable. Hardware wallets store cryptocurrency offline, providing protection against online hacking.

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Comparatively, DigitalCoinPrice echoed a bullish ApeCoin crypto price forecast, predicting that the token’s value will grow over the next few years. Even more, the website showed APE could end this year at $16.23 and reach $25.30 by 2025. The ApeCoin website states that owners of MAYC were given 2,042 tokens worth approximately $21,970. DappRadar data shows that 532 wallets possess over two Bored Apes, and at least five wallets possess over 50 Bored Apes. Before Jun. 15, 2022, both BAYC and MAYC have a 90-day claim period.

How to buy APE Token

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. ApeCoin has a fixed total supply of 1 billion APE tokens, which cannot be minted or burned. This means the number of ApeCoins in circulation will never go up or down. Bored Ape Yacht Club is the first NFT series in the ecosystem, consisting of 10,000 unique digital avatars featuring colorful cartoon apes.


Moreover, you can use APE to participate in the ApeCoin DAO if you’d like to have a say in the future of the APE ecosystem. 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. To purchase APE coins on a P2P exchange, you first need to choose a marketplace that supports ApeCoin, sign up for the platform, and complete the verification process. Next, scroll through the available offers to buy ApeCoin for a payment method that works for you. These marketplaces typically use  escrow to enhance security, but it’s still advisable to only trade with users with high trust ratings.

ApeCoin (APE) was created in January 2022 by the team at Yuga Labs. 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. The team behind ApeCoin includes experienced developers and entrepreneurs who have been involved in developing other popular projects such as CryptoPunks and Meebits. You can use ApeCoin to gain entrance to physical or digital events held by the APE community, purchase BAYC merchandise, and spend it within the APE ecosystem’s suite of products and services.

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