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Apecoin (APE) is an ERC-20 token native to the Ethereum blockchain, created by Yuga Labs, the studio behind Bored Ape Yacht Club (BAYC).
It’s a collection of 10,000 NFTs representing algorithmically drawn monkeys that was launched in April 2021. It has rapidly become one of the most popular and expensive collections on the NFT market.
What makes Apecoin particularly fascinating is its speculative aspect.
The APE token, designed as the official currency of the BAYC community, was launched in March 2022.
A substantial allocation of tokens was in fact allocated to BAYC and BAKC NFT holders, totaling 20,000 monkeys.
This distribution sparked an unprecedented craze and propelled Apecoin into the spotlight of the crypto community.
But Apecoin is more than just a speculative commodity.
Its true purpose is to play a central role as a governance and utility token within the BAYC ecosystem.
It enables the community to take part in crucial decisions concerning the project’s future, while aspiring to become the currency of “Otherside,” the metaverse under development by Yuga Labs. This visionary ambition adds an extra speculative dimension to Apecoin, as its holders dream of its potential in a booming virtual world. Apecoin transcends mere crypto-currency status to become an essential part of the culture and speculation within the Bored Ape Yacht Club community.
Its promising future and implications in the metaverse make it a digital asset that continues to captivate investors and crypto enthusiasts alike!
Apecoin(Apecoin course) was created by Yuga Labs, the studio behind BAYC and other successful NFT collections (CryptoPunks, Meebits, etc.). Yuga Labs was founded in 2021 by four childhood friends, all passionate about blockchain technology and the possibilities it offers.
The founders are former Ticketmaster executive Wylie Aronow, Greg Solano and Kerem Atalay, both former engineers at Zynga, and Gargi Sharma, former marketing director at RockBand.
They met and joined forces to explore the world of NFT, convinced of its revolutionary potential, particularly in the field of digital art and online communities.
Within a year, Yuga Labs had become one of the most influential players in Web3 and NFT, with sales of over $1 billion.
In March 2022, Yuga acquired the rights to the CryptoPunks collection for $500 million, marking a major milestone in its expansion.
For the development of Apecoin, Yuga Labs surrounded itself with an experienced team, including Alex Atallah, co-founder and chief technical officer (CTO) of OpenSea, who brought valuable expertise in blockchain technology and the NFT market.
Maaria Bajwa, with experience at JP Morgan and Sound Ventures, occupies a key role in investment strategy and business development, while Dean Steinbeck, co-founder of Horizen Labs, brings legal experience as general counsel to navigate the regulatory complexities of the crypto-currency world.
This blend of experience in technology, finance and law has been essential to the successful conception and launch of Apecoin. Buy Apecoin safely
Apecoin is an ERC-20 token based on Ethereum.
It therefore has all the classic properties of an Ethereum token: Apecoin transactions are fast, executing every 15 seconds.
Fees vary according to network congestion.
Tokens can be stored and transferred via ERC-20 wallets.
Coinhouse offers a secure wallet for your NFTs.
Right from its launch, Apecoin received the support of renowned partners such as Animoca Brands in the field of NFTs and metavers, Horizen Labs for blockchain security, and Polygon for hosting Otherside’s NFTs with scalable infrastructure.
Players such as Chainalysis (compliance) and Arkane (NFT portfolios) also contributed their expertise.
There will be a maximum of 1 billion (1000000000) APE tokens.
This issue limit can never be changed.
At launch in March 2022, 62% of APE tokens have been allocated to the BAYC and BAKC communities, 15% are held by the ApeCoin DAO foundation, with the remainder dedicated to developer incentives and the ApeCoin ecosystem treasure.
Apecoin’s governance is based on theApeCoin DAO (Decentralized Autonomous Organization), which became fully operational in 2022.
APE token holders can submit and vote on proposals to guide the development of the ecosystem.
ApeCoin DAO enables community members to guide the use of treasury funds, product roadmap, etc.
Otherside is the metaverse developed by Yuga Labs, available to NFT monkey owners.
It’s a 3D virtual world where users can meet, play, create content and buy virtual goods.
Otherside aims to become the social and entertainment hub for the BAYC, MAYC and BAKC communities.
Otherside’s 55,000 field NFTs sold out in a matter of hours in April 2022, bringing in over $320 million.
Apecoin will serve as the currency for transactions within this virtual universe. In 2023, the Otherside project encounters difficulties in its development and launch, with delays announced by Yuga Labs.
Nevertheless, these obstacles can serve as a springboard for fine-tuning the user experience, potentially leading to a more robust and innovative product that will reward the community’s patience.
BAYC affiliation: Apecoin and Bored Ape Yacht Club together represent a revolution in the digital world.
BAYC, with its dazzling success, has established itself as one of the most influential and recognized brands on the Web3.
By positioning itself as the crypto-active of this emblematic community, Apecoin benefits from exceptional visibility and credibility.
This relationship creates a powerful synergy, making Apecoin a key player in the evolution of Web3 and NFT.
ApeCoin, the iconic cryptocurrency of the Bored Ape Yacht Club universe, embodies a remarkable innovation in the digital asset landscape.
It serves as an economic pillar within this thriving ecosystem, playing a central role in transactions and social interactions.
In the Otherside metaverse, ApeCoin is becoming the standard currency for the purchase of virtual goods and land, adding a new dimension to its utility.
It enriches user interaction.
For members of the BAYC community, owning ApeCoins means access to unique experiences and exclusive events, reinforcing a sense of belonging and community engagement.
What’s more, ApeCoin enables its holders to influence ApeCoin DAO decisions, offering a participatory governance model that reflects the project’s democratic philosophy.
ApeCoin transcends its status as a cryptocurrency to become a symbol of participation and innovation at the heart of a dynamic community.
In 2023, Apecoin effectively strengthened its presence in the crypto-currency sector with remarkable initiatives and partnerships. The Otherdeed project was a major pivot for Apecoin.
It has enabled users to acquire NFTs that represent land in the Otherside metaverse.
This metaverse has been designed to offer a constantly evolving immersive experience, where virtual property takes on a new dimension, and where social interaction and personal creation take center stage.
In the video game industry, Apecoin has established partnerships with giants such as Ubisoft and Electronic Arts.
These strategic alliances have enabled the integration of Apecoin as a means of payment for in-game content, such as exclusive skins, characters or boosters.
Collaborations with luxury brands, such as Gucci and Louis Vuitton, enabled the creation of limited editions of fashion items and virtual accessories.
These exclusive items were made available through the Apecoin network, offering currency holders privileged access to high-end products.
In addition, Apecoin worked with production studios such as Warner Bros and Disney to offer limited editions of entertainment content.
This has included movies or TV series that can be bought or rented with Apecoin, extending the use of the currency beyond the world of video games.
Finally, in the field of art and NFTs, Apecoin has collaborated with prestigious art galleries and famous artists to facilitate the purchase of exclusive digital artworks.
Through these various initiatives, Apecoin has established itself as a key player in the digital world, extending its influence beyond gaming and metaverses to luxury, entertainment and digital art.
APE staking allows token holders to block their tokens for a certain period of time in order to participate in the security and operation of the network.
In exchange, they receive rewards, usually in the form of additional tokens.
APE tokens have several use cases in the ecosystem:
A large portion of the tokens is reserved for the treasury controlled by the DAO (decentralized autonomous organization).
These tokens will be used to fund community initiatives, events, collaborations and projects that benefit the ApeCoin ecosystem.
ApeCoin tokenomics are therefore designed to promote long-term adoption, support community governance and encourage innovation within the BAYC ecosystem and beyond.
Some tokens, in particular those allocated to contributors and founders, are subject to vesting periods.
This ensures that key players are aligned with the project’s long-term success.
The distribution of the 1 billion APE tokens is as follows:
Apecoin (APE), born of the meteoric rise of the Bored Ape Yacht Club (BAYC), is establishing itself as an exciting speculative venture in the crypto landscape.
The synergy between APE and BAYC, as well as the exclusive access it provides to the Otherside metaverse, coupled with a highly involved community, position Apecoin as a key player in the NFT ecosystem.
In 2023, despite a certain temporary disaffection with NFTs, Coinhouse remains convinced of their latent potential, particularly with the rise of game universes and the metaverse.
In November 2023, we are witnessing a notable upturn in the crypto-asset market, including for APE.
This momentum is being fuelled by renewed interest in the practical uses of NFTs in a variety of sectors, helping to increase Apecoin’s relevance and appeal.
In this light, Apecoin can be seen not just as an investment in a crypto-currency, but also as a bet on the future potential and vision of what tomorrow’s digital economy could be.
With ambitious projects under development and a growing community, Apecoin holders could find themselves at the heart of a digital revolution in the making.
At Coinhouse, we’re keeping a close eye on these developments, and encourage smart investors to consider Apecoin as a promising investment.
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