Not just that, the amount of APE in circulation is a dynamic number that will constantly change both due to a myriad of market factors as well as the aforementioned schedule. That is surely not the case anymore as today, we have pools of currencies available for investors to choose from, with newer ones coming in with each passing day and tons of new investors joining in every hour. APE has a circulating supply of 284,843,750 APE coins and a maximum supply of 1 billion APE coins. Overall, ApeCoin is a potentially interesting investment, but it is important to do your research before deciding whether or not to invest. The team behind the project has implemented a number of security measures, such as two-factor authentication and a secure wallet.

This is why 10,000 mutant Apes were also minted for a public sale in August 2021 following the mutant serum airdrop. Let’s look at the NFT collections that are related to the APE ecosystem. It is governed by the ApeCoin DAO and supported by the APE Foundation. APE is poised to be deeply integrated with Yuga Labs’ metaverse project, Otherside, where it could be used for any transaction within the environment. If Otherside eventually incorporates a P2E mechanic, APE could be given as rewards to players. It’s also used by a number of developers outside of the APE ecosystem, such as play-to-earn (P2E) game Benji Bananas by Animoca Brands, which uses ApeCoin to incentivize and reward players.

How Do People Get ApeCoins?

The coin is designed to be used as a medium of exchange on the APE network, which is an online marketplace that allows users to buy and sell items using the coin. In addition to being used as a currency, the coin can also be used to purchase goods and services on the site. Other than this, ApeCoin is one such platform that is also known to provide access to certain parts of the Ecosystem that are otherwise unavailable including exclusive games and services. However, for third-party developers, ApeCoin is rather a tool used for participating in the ecosystem by incorporating ApeCoin into games, services as well as other projects.

Moreover, to pass an exchange’s KYC (Know Your Customer) process, you will also need to provide a copy of your government-issued ID and proof of address. You may also be asked questions about your income and your level of expertise as an investor. The token also exists to incentivize third-party developers to participate in the APE ecosystem by building applications that incorporate ApeCoin.

Trading Markets (TCRV) Introduce All-Inclusive Trading Platform

The organization has decided to reward 15% of the total supply to NFT holders. At its core, ApeCoin is a decentralized platform that allows for creating, exchanging, and managing digital assets. The ApeCoin blockchain is powered by DeFi protocols and utilizes a Proof-of-Stake consensus mechanism. ApeCoin is a cryptocurrency created to become the standard currency for the ape ecosystem. The team behind ApeCoin believes that by doing this, they will be able to provide a more stable and secure financial system for apes.

ApeCoin use cases include enabling holders to participate in the governance of the DAO and enabling them to access exclusive features of the ecosystem, such as games, events, merchandise and services. InvestorsObserver gives ApeCoin a strong long-term technical score of 66 from its research. The analysis helps to determine whether it’s a strong buy-and-hold investment opportunity currently for traders. APE at this time has a superior long-term technical analysis score than 66% of crytpos in circulation.

It’s intended to serve as a decentralized token for various community-led initiatives. They have the authority to allocate the Ecosystem Fund and establish governance rules, special projects, and partnerships. Another key point is after the DAO members have voted on the proposals, the APE Foundation will implement the community-driven governance decisions. As a result, DAO will have a special council comprising web3 veterans and gaming and technology thought leaders (the Board). Furthermore, ApeCoin will facilitate web3 in the APE network, allowing creators to sell their digital artworks and various industries, including games, entertainment, and events. To some extent, Yuga Labs’ BAYC project inspired the decentralized ApeCoin idea.

Bored Ape Yacht Club (BAYC) is one of the most popular projects that has a vibrant community of supporters. The team behind Bored Ape Yacht Club launched its own native token called APE. 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. 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.

Alternative Ways To Buy ApeCoin

The DAO’s decisions are then implemented by the ApeCoin Foundation, which serves as the DAO’s legal representative and supports the growth of the ecosystem in various ways. The Foundation includes a 5-member board made up of luminaries in the world of crypto and tech. The Board is responsible for ensuring the community’s vision is being followed as the ecosystem continues to develop. APE holders vote to determine the Board’s membership on a yearly basis. Airdropping tokens is a common marketing tactic to get new blockchain projects into people’s wallets.

While partners may reward the company with commissions for placements in articles, these commissions do not influence the unbiased, honest, and helpful content creation process. Any action taken by the reader based on this information is strictly at their own risk. 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, 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.

This gave the launch and airdrop event of ApeCoin more publicity and fame, as the community behind these NFTs became instantly involved in the project and coin. ApeCoin is heavily linked to two popular NFT collections by YugaLabs, what is apecoin Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC).Both of these NFT collections are some of the largest on the Ethereum Blockchain. The average sale price of a Bored Ape (BAYC) NFT is $285,000 as of writing this article.

Developer nWay has also announced to use this token for its upcoming play-to-earn game. It is worth mentioning that, the APE Foundation was gifted a 1 of 1 non-fungible token (NFT) by Yuga Labs, the creator of Bored Ape Yacht Club. Yuga https://www.xcritical.in/ Labs is known to have conveyed all rights as well as privileges to this NFT and its underlying artwork to the APE Foundation. Lastly, the total supply of ApeCoin is permanently fixed at about a billion tokens, all minted at once.

In total, Yuga Labs generated more than $300 million through the sale—all transacted in ApeCoin. Lastly, it’s worth mentioning that an attack on the ApeCoin crypto airdrop was detected, and the attacker seized a large sum of tokens via a flash loan, leveraging BAYC NFTs, according to Certik Alert. 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. A subcommittee of the Ape Foundation will also serve as the “board” of the ApeCoin DAO, which will oversee specific proposals. The ApeCoin website promises that DAO members will vote for future board members.

• The main difference between buying Bitcoin or Ethereum and ApeCoin is that the latter is not supported by all leading cryptocurrency exchanges.
• ApeCoin (APE) is a cryptocurrency gaining recent attention, particularly in the NFT space, making it appealing to those interested in non-fungible tokens and related projects.
• Based on the price at the time of the original airdrop that was about $70,000.
• Once there is a huge demand for some of the unique 10,000 digital collectibles, it reflects positively in the price patterns of the token, and this brings consistent passive income.

It’s a governance and utility token, holders of which gain access to the ApeCoin DAO. Simply put, non-fungible means one of a kind, and blockchain technology helps verify this uniqueness in the digital realm. Some of the most popular NFTs are digital art, collectables, and gaming assets. The popularity of NFTs has led to a boom in the metaverse, as businesses are using NFTs to create new experiences and engage with customers in new ways. Once there is a substantial increase in the price of the cryptocurrency, the tokens could be sold, and reinvested into other tokens, or physical assets.