However, as a general statement, it may be a good time to buy APE if you believe that the price of the asset is undervalued and has potential for future growth. ApeCoin is popular because it is a very efficient and easy to use cryptocurrency. APE is a risky investment because it is not a well-established company and its products are not well-known. Additionally, APE has a limited history of profitability and its financials are not readily available. The APE Coin is a cryptocurrency that is being touted as the next big thing in the digital world.
Holders will be able to vote on relevant topics ranging from the allocation of funds to what future endeavors the DAO should embrace. ApeCoin will be the default currency for all things related to the Bored Ape community. In late April 2022, YugaLabs launched an auction for “land” in the Otherside.
Add this to the fact that Yuga Labs intends to launch a vast Metaverse play-to-earn gaming platform with ApeCoin as its native currency, and it certainly seems to paint a positive future for the cryptocurrency. Additionally, as ApeCoin becomes more of a known currency, developers across the DeFi space may begin to adopt it for their DApps — an option which forms part of Yuga Labs’ vision and would add value to ApeCoin. It allows holders to participate in the ApeCoin DAO as a governance token.
If you are bullish on the future of the ApeCoin ecosystem, then ApeCoin may be a good investment for you. ApeCoin was launched on March 17, 2022, and quickly became one of the most popular cryptocurrencies on the market. The token’s market capitalization reached over $15 billion at its peak in April 2022. In 2032, according to our ApeCoin (APE) price prediction, APE coin is expected to steadily rise.
A part of this allocation will go toward the primatologist Jane Goodall’s charity foundation. 14% of the tokens are for the people who contributed to the launch of the ApeCoin protocol. Designed identically to any other Web3 coin, ApeCoin can be used for payments. ApeCoin is technically acceptable by most merchants because it is a pervasive ERC-20 token. The coin is also already in use as NFT rewards, and holders with the BAYC receive free APE that they can immediately cash. As an NFT basket of up to 20,000 mutated versions of the BAYC Apes, the MAYC helps onboard new members to the Ape community.
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. Acclaimed as a creator of the Bored Ape Yacht Club, Yuga Labs serves as a community member in the ApeCoin DAO.
They have adopted ApeCoin as their primary token in the projects they undertake. Let’s learn concise information about the NFT collections that are a part of the APE ecosystem. The first quarter of 2022 was abuzz with the talks about ApeCoin (APE), a cryptocurrency adopted to be the native coin of Bored Ape Yacht Club (BAYC), developed by Yuga Labs. Since the ApeCoin DAO came into being in April 2021, the BAYC has been among the top nonfungible token (NFT) collections with a vibrant community. APE token holders make collective governance decisions, casting votes and deciding on issues such as fund allocation, rule framing, partnerships, project selection, and more.
Thus, we have decided to dedicate an article on this topic where we will introduce ApeCoin, its team and overall structure as well as tokenomics and utility of the token. The ApeCoin community works on several projects to bring blockchain technology to the masses. These projects include a decentralized exchange, a mobile wallet, and a point-of-sale system.
While it is still relatively new, it has already made waves among those who are interested in investing in the digital world. The ApeCoin team has some ambitious goals in mind for the future of their cryptocurrency. The most popular wallets that support this standard are MyEtherWallet, MetaMask, and Trust Wallet. The biggest piece of this supply is allocated to DAO treasury and resources, which should receive around 47 % of the overall supply, with a 48- months release period of about 7 million tokens per month. Additional 15 % of the supply was allocated to be claimed by the holders of NFTs, which can do so in the next 90 days.
Whether or not ApeCoin is a good investment depends on your individual investment goals and risk tolerance. ApeCoin is a volatile asset, and its price can fluctuate significantly. However, ApeCoin has a strong utility proposition and is backed by a strong community.
- YugaLabs plans to take it even a step further and create an entire community based around web3 and blockchain technologies.
- NFTs can represent anything from artwork to in-game items, and each one is unique and cannot be replicated.
- It acts as a sort of corporational parent of the DAO and carries out community-approved proposals, facilitating its development and growth.
- 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.
ApeCoin has recently captured the public’s attention like many other memecoins. However, unlike Dogecoin or Shiba Inu, ApeCoin might actually provide some real utility and be here for the long haul. ApeCoin’s supply is fixed at 1 billion APE, meaning tokens cannot be mined or burned. 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.
None of the content on CoinCentral is investment advice nor is it a replacement for advice from a certified financial planner. All tokens are locked for a period of 12 months so shareholders aren’t able to cash out immediately, potentially crashing the price. Built on Ethereum’s ERC-20 token standard, this currency is traded on some of the biggest exchanges like Binance, KuCoin, Kraken, FTX and the list continues. If you are an Indian crypto trader, and like buying APE with INR, you can use any of the below crypto exchanges. For those who are looking to buy APE in any international crypto exchange against BTC, ETH or any stable coin, refer to the below mentioned crypto exchanges. There is no definitive answer to this question, as timing is highly dependent on market conditions and individual circumstances.
Apart from this these avatars can also be used on other applications. Make sure you read everything with 100% attention so that you don’t end up incurring losses. APE can be used to purchase a variety of items, including digital and physical goods, services, and even other cryptocurrencies.
