Eminem is there, as are Jimmy Fallon and Timbaland, Shaquille O’Neal didn’t miss it, Snoop Dogg sure didn’t, and Paris Hilton and Madonna couldn’t resist either: The Bored Ape Yacht Club (BAYC) is probably the most dazzling celebrity in the world. moment -NFT Member Club. Anyone who’s respectable in the world of stars and wannabe stars, and has the means to spare, is currently flaunting a monkey NFT on Twitter, showing everyone what you’re into.
But what actually? There is talk of the Ape ecosystem, which you can now buy with terrible sums of money. The Web3 buzzword is also inflationary. So far, however, the few associated exclusive rights consist of a Discord server and the collective painting of a virtual one. bathroom wall. Spending a few million US dollars on it shows great confidence in what is to come, or a naive lust for prestige. ApeCoin (APE), which launched on March 17, is also somewhat in limbo. As with NFTs, the nebulous intended use does not detract from current success.
ApeCoin: Give the monkey sugar
Over two billion US dollars in just one week – ApeCoin’s market capitalization is impressive. ApeCoin has quickly overtaken cryptocurrencies like Dash, Maker, and Gala and is currently battling with IOTA for 60th place among the most valuable crypto assets. The price has retraced 22 percent from the high of US$17. A weekly increase of 56 percent is not the worst result.
This has just paid off for members of the exclusive Bored Ape Yacht Club, who got 10,094 APE per BAYC-NFT for free at the token launch. Mutant Ape owners got 2042 tokens after all. A total of 62 percent of the total circulation amount, which is limited to 1 billion tokens, will be distributed to NFT and DAO owners. The only option for the rest is to go to the stock market. Coinbase, eToro, Binance and Crypto.com have already added ApeCoin to their range.
Who sells like sliced bread there. According to Etherscan, the coin has now been distributed to more than 36,000 wallets. If the markup is also lucrative for small investors at the moment, wealthy crypto investors in particular have discovered ApeCoin for themselves. According to Whalestats, ApeCoin is currently the most traded token among the top 1000 Ether whales.
Metaverse, Web3, Gaming: a roadmap full of buzzwords
That’s for sure: ApeCoin is the native cryptocurrency of the Ape ecosystem. However, this is still in development, and it’s not very clear where the journey will lead. “Culture has found a new expression on Web3 through the arts, games, entertainment, and events,” according to ApeCoin’s short manifesto. “The possibilities of the impact of blockchain on culture are so endless that it is impossible to predict them all. APE is a token designed to support what is coming, controlled and developed by the community.” You won’t get smarter, but the gameplay and metaverse areas should probably form the main focus.
One of the flagships: The game “Otherside”, which will probably be released by the end of the year and at least has a nice trailer. The recent acquisition of the rights to the CryptoPunks and Meebits by Yuga Labs, the company behind the Bored Ape Yacht Club, points to a stellar gathering of the most popular NFT collections. Game publisher nWayPlay also announced a play-to-win game with ApeCoin integration On twitter on.
The development of the ecosystem must be controlled by the community, that is, by members of the Ape DAO. DAO members collectively make suggestions and vote on spending funds, projects, and partnerships. Anyone who owns an ApeCoin is also a member of the DAO.
ApeCoin is also a governance and utility token that, in addition to project funding and integration into services and games, also claims to offer exclusive access rights for “games, merchandise, events, and services.” Due to the immense demand for NFTs from the now world-renowned Bored Ape brand, trending games and blockchain, Metaverse and Web3, ApeCoin does not seem to have the slightest growth prospect. But it remains to be seen what else the Ape ecosystem has in store for us.
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