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APE holders vote to determine the Board’s membership on a yearly basis. ApeCoin DAO members vote as a community on issues impacting the direction of the ecosystem’s growth, from how funds are allocated, how rules are enforced, what partnerships to pursue and which projects to undertake. A mobile game called Benji Bananas, developed by Animoca Brands (whose co-founder, Yat Siu, is on the board of the Ape Foundation), is adopting what is coin ape ApeCoin as a kind of in-game currency. For 25 ApeCoins, you can buy a Benji Bananas Membership Pass, which lets you earn “special tokens” in-game. Yuga Labs is getting 150 million APE, 10 million of which (“or equal value”) will go to the Jane Goodall Legacy Foundation.
Currently, official ApeCoin (APE) GitHub Organization account doesn’t exist or wasn’t submitted. 🔆
You can buy ApeCoin on a number of centralized and decentralized exchanges. However, when you buy crypto from a centralized exchange, you are forfeiting the custody of your private keys. Unfortunately, that also means you are giving up the ownership https://www.xcritical.com/ of your crypto to a centralized entity. If something bad happens to the centralized exchange where you keep your crypto, your crypto will vanish as well. But it’s not just the metaverse, ApeCoin has many other uses within the blockchain gaming ecosystem. Overall, 15% of the maximum supply was ready to be claimed by holders on launch day.
BAYC as the most recognisable NFT collectible brand
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. Crypto exchanges are online trading platforms for digital assets that function in a similar way as online stock brokerage platforms, such as Fidelity or Charles Schwab. 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. BitDegree aims to uncover, simplify & share Web3 & cryptocurrency education with the masses. Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place.
ApeCoin rises over 11% following announcement of new game edition
ApeCoin is a relatively new cryptocurrency that was launched in March 2022. It was created to be used within the Ape Ecosystem, which is supported by the Ape Foundation. Despite being a new token, ApeCoin has gained a lot of attention and popularity in the cryptocurrency market due to its unique features and potential for growth.
Apecoin price surges to 6-month peak following Arbitrum partnership
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. At the moment, there isn’t much you can do with APE directly except to trade it on several crypto exchanges.
APES, a cryptocurrency launched in March 2022, is intricately linked to the Bored Ape Yacht Club, a prominent NFT collection. As an ERC-20 token, APES operates within the APE ecosystem, leveraging the Ethereum blockchain’s robust infrastructure. This affiliation with a well-known NFT community adds a layer of cultural significance and potential utility within digital art and collectibles. External developers use ApeCoin to play a role in the ecosystem and incorporate the token into their services, games, and various projects. For example, in Animoca Brands’ Benji Bananas, a play-to-earn (P2E) mobile game, the coin is used as an incentive for players.
Next, 140 million APE goes to “the companies and people that helped make this project a reality” – an as yet unnamed group that most likely includes members of the Yuga Labs team. All these coins are “locked” for the first 12 months, so holders can’t just cash out and tank the price. Instead, the public relations messaging insists ApeCoin is a product of ApeCoin DAO, a brand new organizational unit governed entirely by token holders. 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. APES has also made a mark in the NFT market, offering unique opportunities for its holders.
In technical terms, APE coin serves as a decentralized layer to realise initiatives brought forward from its own community as a form of self-governing Decentralised Autonomous Organisation or DAO. This meant that APE coin owners would be able to participate in this DAO using their APE tokens to vote. A lot is happening in the cryptocurrency market, and ApeCoin is as changeable as the weather. Check our ApeCoin price page and use our handy charts to keep track of the latest APE developments.
For example, Play-to-earn (P2E) games might adopt ApeCoin in the future. One example of a project already using it is Benji Bananas, a game developed by Animoca Brands. Acquiring a Benji Bananas Membership Pass allows the user to swap in-game tokens into ApeCoin.
ApeCoin’s price performance is dynamic, and it has shown impressive gains over time, outperforming many other cryptocurrencies. Its unique features and strong community have contributed to its success, resulting in growing interest from investors and traders alike. When compared to other cryptocurrencies, ApeCoin’s price movement is influenced by various factors, including market trends, news and announcements, and global economic events.
ApeCoin is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club project. ApeCoin was founded to be used within the burgeoning APE Ecosystem, which is supported by the APE Foundation. The ApeCoin DAO aims to build and maintain the APE Ecosystem in a fair and inclusive way, providing an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes. ApeCoin holders govern themselves via the decentralized governance framework controlling the ApeCoin DAO, and vote on how the ApeCoin DAO Ecosystem Fund should be used.
One of the pivotal moments for APES was its listing on several cryptocurrency exchanges, which significantly increased its accessibility and liquidity. These listings allowed a broader audience to engage with APES, facilitating its integration into the wider crypto ecosystem. The interplay between APES and the Ethereum blockchain exemplifies the dynamic nature of cryptocurrency technology, where innovation and community engagement drive the evolution of digital assets. As APES continues to develop within the Ethereum ecosystem, it showcases the potential of blockchain technology to transform not only financial systems but also digital experiences and communities.
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. The Ape Foundation Board includes Reddit co-founder Alexis Ohanian, Yat Siu of developer and venture capital group Animoca Brands, and FTX investor Amy Wu, among others. Their role is to ensure the implementation of decisions made by the ApeDAO, which is governed by holders of the APE token. Every owner of a Bored Ape Yacht Club or Mutant Ape Yacht Club NFT was eligible to claim their share of $APE.
- The foundation is also in charge of the Ecosystem Fund, which multi-sig wallet holding APE, which will be used to fund expenses as determined by the DAO members.
- Hence, trading on a decentralized exchange (where you control the custody of your assets) is typically considered the safer option.
- The Board is responsible for ensuring the community’s vision is being followed as the ecosystem continues to develop.
- If something bad happens to the centralized exchange where you keep your crypto, your crypto will vanish as well.
- However, BAYC has dislodged them from the top spots held for many years, at least, in terms of market capitalisation.
- It’s affiliated with a non-fungible token (NFT) project known as the Bored Ape Yacht Club (BAYC), a massively successful and valuable collection launched by Web3 company Yuga Labs.
Finally, make sure to transfer your APE tokens from the exchange to your personal, non-custodial crypto wallet that supports ApeCoin. By securing your tokens in your own wallet as opposed to on an exchange, you can avoid losing your assets in case of an exchange bankruptcy or a hack. The current cryptocurrency Market Capitalization Dominance among all other cryptocurrencies in the market.
Upon DAO members’ voting, the APE Foundation, the DAO’s legal caretaker, actualizes these governance decisions. Apecoin (APE) is an ERC-20 token launched on the Ethereum blockchain that is used within the growing APE Ecosystem, which was built on the back of the Bored Ape Yacht Club (BAYC). At the heart of Apecoin’s mission is the goal of bringing Web3 to the masses. By leveraging the power of blockchain technology, Apecoin is creating a more accessible and equitable digital economy, where users have more control over their data and transactions. The token originated from the Bored Ape Yacht Club (BAYC), an NFT series from Web3 company Yuga Labs. The collection features 10,000 unique cartoon ape drawings, each with a distinct look and style, with ownership of each verified on the blockchain.
The creators of the project can boast that their lot was sold at Sotheby’s for $24.4 million, and one of the monkeys has appeared on the cover of Rolling Stone magazine. Bored Ape Yacht Club is one of the most successful and famous NFT projects currently in existence. This exclusive and glamorous club is popular with celebrities such as Paris Hilton and Justin Buber. The elite nature of the club is evidenced by the high membership fee of $250K, which the applicant must invest in NFTs. However, the use of ApeCoin is not limited to projects developed by Yuga Labs. Animoca Brands’ Benji Bananas is a play-to-earn (P2E) game in which players can realize their gains in the form of ApeCoin.
Yuga Labs, the creator of the famous Bored Ape Yacht Club (BAYC) NFT collections, has adopted APE as the primary token for all new products and services. ApeCoin is the APE Ecosystem’s governance token, allowing token holders to participate in ApeCoin DAO and giving its participants a shared and open currency that can be used without centralized intermediaries. 62% of all ApeCoin was allocated to the Ecosystem Fund, which will support community-driven initiatives as voted on by ApeCoin DAO members. Alternatively, you could deposit APE tokens on Binance to make use of Binance Earn accounts that enable you to earn yield on your ApeCoin holdings for a set period of time. While the yields offered are high, they come with the risk of leaving your funds on a centralized exchange, thus giving up control over your crypto. 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.
ApeCoin is explicitly linked to these famously pricey non-fungible tokens, and is very much involved with Yuga Labs, the company stewarding the intellectual property behind the Bored Apes. But a carefully coordinated marketing campaign has taken great pains to dissociate ApeCoin from any one conventional corporation. Charity events have been another focal point for APES, showcasing its commitment to social responsibility.
The introduction of APES NFTs brought exclusive benefits, including opportunities for passive income. This initiative not only expanded the utility of the APES token but also attracted a diverse group of investors interested in the burgeoning NFT space. Ethereum employs a consensus mechanism called Proof of Stake (PoS), which plays a crucial role in preventing attacks from bad actors. In PoS, validators are chosen to create new blocks based on the number of coins they hold and are willing to “stake” as collateral. This system discourages malicious behavior because validators risk losing their staked coins if they attempt to compromise the network. Schedule a free demo with our team to learn more and start fundraising with non-cash assets like cryptocurrency, stock and DAFs.