The Latest News on Meme Coins Navigating the Meme Coin Hype in 2023 with Dogecoin, Shiba Inu, Pepe Coin, and ApeMax

September 1, 2021 by  

Furthermore, there will be a six-month term limit for the DAO board members, and fresh members will replace them every year. Importantly, ApeCoin’s Board of Directors oversees several projects. Despite its fluctuating price and market size, it’s intriguing to see how ApeCoin (APE) will be employed in web3. Here we go over what ApeCoin is, https://cryptonews.wiki/how-to-set-stop-loss-coinbase-pro-how-to-place-a/ how it works and the roles it plays in the NFT ecosystem. Bored Ape Yacht Club (BAYC), is almost a household name at this point and the latest NFT collection, Mutant Ape Yacht Club (MAYC), is no less popular. The team recently released its proprietary ‘ApeCoin (APE)’ crypto, which has attracted considerable interest since its debut.

  • These seemingly-ordinary looking artworks attracted extraordinary attention.
  • The introduction of ApeCoin sparked a lot of interest in the crypto space and has increased by 17.42 percent since then.
  • All tokens are locked for a period of 12 months so shareholders aren’t able to cash out immediately, potentially crashing the price.
  • For each Bored Ape NFT they own, holders could “adopt” a random Club Dog NFT for free, only paying a gas fee.
  • People wanted to know whether CryptoPunks would be issued commercial rights or public domain rights.

Animoca Brands’ game Benji Bananas leverages ApeCoin in a play to earn style game. Also according to ApeCoin DAO, there will be future access to BAYC styled games, services and possible further airdrops. Animoca Brands and Yuga Labs have teased a Bored Ape secret project that would be powered by ApeCoin. https://crypto-trading.info/the-best-was-to-cash-out-cryptos/ ApeCoin can be used and traded on both AVAX and BSC (BNB smart chain) using decentralized exchanges on both these blockchains. Furthermore, ApeCoin will facilitate web3 in the APE network, allowing creators to sell their digital artworks and various industries, including games, entertainment, and events.

The future potential of ApeCoin

Chief among its ecosystem members is Yuga Labs itself, which has adopted APE as the primary token for its projects. 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.

  • Another key point is after the DAO members have voted on the proposals, the APE Foundation will implement the community-driven governance decisions.
  • After just one day of trading, ApeCoin had a market capitalization of almost $2 billion, owing to its scarcity, as the total supply of tokens is limited to only one billion.
  • The ApeCoin blockchain has a total supply of 21 million APE tokens.
  • Bored Apes have enjoyed tremendous success in the NFT market– seeing a rise from a minting price of 0.08 ETH to an average all-time high of 152 ETH, or $434,000 in April 2022.

Tokens will be split based on the difference in the price of NFT collections on each exchange. ApeCoin is the result of a long time spent with the community of BAYC and Mutant Ape Yacht Club (MAYC) – 2 of the most popular NFT collections on the Ethereum ecosystem. ApeCoin will serve as a community-led & decentralized protocol to “metaverse up” real-world operations. The rest of the coins vest over time, the maximum being 48 months. When they launched Meebits, Larva Labs announced that they owned the copyright to Meebits which meant no one could commercialize them. Here were these programmers who were building open decentralized systems without centralized intermediaries and now a corporate company was restricting their right to use their cultural symbol.

What You Need To Open a Cryptocurrency Exchange Account

When a transaction is made, it is broadcast to all the nodes in the network, which then verify the transaction and add it to the blockchain. The ApeCoin team’s goal was to create a system that would be able to track and manage digital assets more securely and efficiently than any other existing system. To achieve this, they designed ApeCoin to be highly scalable and extremely fast.

Benefits of holding APE Token

This means that your savings will not be eroded over time by inflation. The main advantage of APEcoin is that it is backed by real assets, which are the ape population. This means that the value of APEcoin is directly linked to the number of apes in the world. There are a limited number of apes in the world, so the value of APEcoin should theoretically go up as the number of apes decreases. APE is available for purchase on a variety of exchanges, most popularly Coinbase, Binance, Kraken, or Huobi. If interested in purchasing ApeCoin there are a handful of popular exchanges to do so.

The problem was that there was no substance to that because you knew I could equally send the same email to many others. Bitcoin solved the double spend problem through cryptography and the rest is history. There is no way to predict the future, but if they truly envision https://currency-trading.org/education/how-to-get-rid-of-airdropped-nfts-no-airdropped/ the future of culture, art, and entertainment, then ApeCoin should be something you might want to keep on your radar. The possibilities with ApeCoin will likely continue to grow as the infrastructure and proposals continue to be improved upon by the community.

APE Price Statistics

With Yuga Labs adopting ApeCoin as the fundamental token, the community expects more utilities to be added to the token in the future. 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. Launched in April 2021, Bored Ape Yacht Club (BAYC) is the first NFT collection of the APE ecosystem. Since its launch in April 2021, Bored Ape Yacht Club (BAYC) has become one of the most popular NFT collections. BAYC is well-known for having a vibrant and active community of supporters.

The allocation is driven by the difference in floor price between each collection of NFTs to enable a fair launch of ApeCoin for BAYC and MAYC NFT holders. BAYC and MAYC both have a 90-day claim period.The unclaimed tokens will then be donated to the Ecosystem Fund. Floki Inu (FLOKI) is competing in the meme token race, showing frequent price uptrends. While it trails behind Dogecoin (DOGE) in market capitalization, its recent bullish momentum has been noteworthy.

It will be empowered for the community to lead and build metaverse events, games or blockchain services. If you are new to crypto, use the Crypto.com University and our Help Center to learn how to start buying Bitcoin, Ethereum, and other cryptocurrencies. A further development that people are waiting for is the announcement about the game design and rules. Right now it is not clear which type of plot is strategically more valuable. Like any game, metaverse projects will take a while to materialize. Once the game emerges we can expect a swap between those who bought to flip their investment and those who want to play the actual game.

At the fixed price of 305 ApeCoin (which was about $6,000) per plot, demand far outstripped supply. You are probably aware that you can buy and sell NFTs on various platforms. On NFTx.io you can take your NFTs and put them into a vault and securitize them into a token that you can sell. At the time there were 5 Bored Ape NFTs worth $1.5Mn in a vault on NFTx.io that had not claimed their Ape Coins yet. Meebits was another collection from Larva Labs that was gifted to CryptoPunk holders. For example, they may have human vs. mutant versions and then here again the hoodie might be more prominent.

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