Content
- Decentralized Currency
- Best ApeCoin Hardware Wallet
- What is ApeCoin used for?
- How does APE Work and What are its Uses?
- What’s Guenon: A Guide to ApeCoin and the Bored Ape Yacht Club Ecosystem
- Best Side Hustles You Can Start Earning With In 2023
Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. As more decentralized Web 3 apps develop in the APE Ecosystem and start using ApeCoin as their native what is apecoin currency, the demand for the crypto could rise higher. This, in turn, could send the ApeCoin price, market cap, and 24-hour trading volume to new highs, making it an interesting cryptocurrency to invest in. But this is a lot of power to grant to the public, and so perhaps it’s understandable that web3 startups are being stingy with it.
- As a decentralized Board, the initial Board members will serve for 6 months before APE holders vote for new Board members on an annual basis.
- The Otherside of NFTs Otherdeed travels into the metaverse, STEPN steps into Ethereum, GameStop launches NFT marketplace and MORE in this week’s NFT update.
- Consult with a qualified professional before making any financial decisions.
- The first quarter of 2022 was abuzz with the talks about ApeCoin , a cryptocurrency adopted to be the native coin of Bored Ape Yacht Club , developed by Yuga Labs.
Other projects in the APE ecosystem have greatly profited from BAYC’s reputation and status. ApeCoin is designed to give its holders certain advantages and other privileges in the Bored Ape ecosystem, especially when combined with the BAYC, MAYC, or Bored Ape Kennel Club NFTs. Currently, it finds its major use as a governance token, a store of value and a reward token on decentralized gaming applications. ApeCoin is the native and utility token of the BAYC ecosystem and the governance token of the ApeCoin DAO.
Decentralized Currency
According to Rohan Grey, a law professor at Willamette University and crypto regulation observer, the distinction between ApeCoin DAO and Yuga Labs probably also has to do with something called the Hinman Test. ApeCoin is explicitly linked to these famously pricey non-fungible tokens, and is very much involved with Yuga Labs, the company stewarding the intellectual property behind the Bored Apes. But https://xcritical.com/ a carefully coordinated marketing campaign has taken great pains to dissociate ApeCoin from any one conventional corporation. In addition to tracking price, volume and market capitalisation, CoinGecko tracks community growth, open-source code development, major events and on-chain metrics. As a rule of thumb; do well to carry out your own research before investing in cryptocurrency and NFT projects.
Airdropping tokens is a common marketing tactic to get new blockchain projects into people’s wallets. This attracts public scrutiny and triggers the FOMO instinct—fear of missing out. After all, we have seen multiple times how token appreciation can mint millionaires overnight based on wild price swings.
Best ApeCoin Hardware Wallet
ApeCoin token’s smart contract doesn’t allow for extra token issuance nor has the team hinted at token burning in the future. ApeCoin’s total supply will therefore remain pegged to 1 billion tokens, while the circulating supply will vary according to the vesting and release plans. 15% of the total supply was distributed to BAYC and MAYC NFT holders at launch.
Upon the launch of ApeCoin, holders of Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs were entitled to collectively claim 15% of the ApeCoin supply . The considerable risk with APE is that, unlike tokens like Avalanche or Algorand , it’s not tied to a utility of its own. Instead, it relies on the metaverse and BAYC as the primary drivers of ApeCoin price. Additionally, the Ape NFT coin space is very volatile, even more so than the crypto space, so you need to be able to stomach higher levels of risk to invest in APE. Once purchased, your APE tokens can be stored in the exchange itself or be taken out and stored in a cryptocurrency wallet.
What is ApeCoin used for?
In its most basic form, it can be thought of as a sort of decentralized, high-yield savings account. With a general savings account, bank members can lock up their funds and receive interest on their balance over time. During this period, banks often use members’ locked-up savings to lend out to others, ensuring that the bank always has sufficient liquidity for use by members.
To understand not only what ApeCoin is but also how it works within the BAYC governance, let’s look in detail at the process leading to the approval of a new ApeCoin DAO proposal. Under this category are proposals on general community guidelines. The ApeCoin DAO is the decentralised community organisation of the BAYC. It is necessary to point out that it is completely separate from Yuga Labs, which can express its opinion on future decisions as if it were a wealthy user with a large amount of APE. The total cost of implementation must be clear in order for a proposal to go to vote. Administrative Review – the process of evaluating pending AIPs that have been tagged as “Needs Administrative Review” to determine whether they should be halted or sent to vote by the community.
How does APE Work and What are its Uses?
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Stay away from wallets that don’t have PIN options, 2FA, or basic security features. YouHodler has a PIN or thumbprint required to enter the app in addition to 2FA and 3FA upon request. We also run regular security audits to ensure our walls are strong and impenetrable. Lastly, we are backed by Ledger Vault and Fire Blocks for insurance and secure crypto transaction management solutions.
What’s Guenon: A Guide to ApeCoin and the Bored Ape Yacht Club Ecosystem
If you want to do anything with Bored Ape IP, you’ll have to go through Yuga Labs. The main company behind the Bored Ape Yacht Club is Yuga Labs, a traditional corporate entity registered in Delaware. It’s reportedly in talks with the venture capital firm Andreessen Horowitz about funding that would value it at $5 billion, and it has recently made moves to become, effectively, the first major NFT monopoly. You will receive an email with instructions on how to reset your password in a few minutes.
Best Side Hustles You Can Start Earning With In 2023
It has also given every holder a piece of the governance of arguably the most vibrant NFT community. As Yugalabs dive into the metaverse, ApeCoin stands a chance of gaining core relevance in one of the most promising Web3 and blockchain narratives since NFTs – the metaverse. The Bored Apes team has utilized ApeCoin for fundraisers and has reserved some ApeCoin tokens for future developments on the APE ecosystem.
FAQs
Is ApeCoin related to Bored Ape Yacht Club? ›
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.
How much ApeCoin did Bored Ape holders get? ›Each NFT draws its own allocation of tokens, so if you own a bunch, your token rewards will stack. For original Bored Ape owners, the 10,094 tokens comes out to more than $80,000 worth of ApeCoin, as of this writing.
What percentage does the creator get from Bored Ape Yacht Club? ›The founders note that when the Bored Ape Yacht Club launched in 2021 at a price around $220 worth of Ethereum apiece, Yuga set a 2.5% creator royalty on secondary sales because that's the amount that OpenSea charged for its own marketplace fee.
Is it worth it to buy Bored Ape Yacht Club? ›There are many benefits that one gets after owning the Bored Ape Yacht Club. The most important ones include: Each NFT purchased has a considerable market value which makes these NFTs a huge investment. These Bored Ape NFTs are an entry token to real-world private events and online clubhouses.
How much will ApeCoin be worth? ›After the analysis of the prices of ApeCoin in previous years, it is assumed that in 2024, the minimum price of ApeCoin will be around $10.19. The maximum expected APE price may be around $11.61. On average, the trading price might be $10.47 in 2024.
How much $Apple did BAYC holders get? ›Each BAYC holder got 10,094 tokens, valued anywhere between $80,000 to $200,000. But someone found a way to claim the airdrop, using NFTs that they did not initially own.
Who owns the rarest Bored Ape? ›Celebrities such as Justin Bieber, Post Malone, and Steph Curry are all owners of the well-known NFT called Bored Apes. These NFTs have even made it to the traditional art auction houses, selling a single lot of 101 Bored Apes at Sotheby's in September 2021.
How do I claim my ape coin? ›Claim ApeCoin. You need to connect your MetaMask wallet before you can claim APE. MetaMask is not installed. 150 million tokens (24.2% of the Ecosystem Fund and 15% of the total supply of ApeCoin) are claimable by BAYC and MAYC NFT holders upon launch of ApeCoin.
Who owns most Bored Ape? ›The parent company of Bored Ape Yacht Club is Yuga Labs.
Who are two celebrities that own Bored Ape Yacht Club? ›Curry currently uses his Bored Ape as his Twitter profile picture. Drake Bell, from the T.V show Drake and Josh, owns a Mutant Ape Yacht Club NFT.
How do Bored Ape owners make money? ›
BAYC makes money in several ways, but its primary source of revenue comes from minting apes as NFTs as well as via royalties from secondary sales and other transactions. Yuga Labs, the studio behind BAYC, receives 2.5 percent of the secondary sale value.
How much do Bored Ape owners make? ›Each Bored Ape owner was given 10,094 “free” tokens, worth about $111,904 as of Tuesday, and each Mutant Ape owner was given 2,042 tokens, worth about $21,971, according to the ApeCoin website. And although the entire collection contains 10,000 NFTs, about 6,362 wallets own them.
Why is ape coin dropping? ›The crypto token attached to Bored Ape Yacht Club experienced a drop after tech entrepreneur Jeff Huang put his Bored Apes and Mutant Apes up for sale. The ApeCoin crypto token's price slipped a bit this week after one of Bored Ape Yacht Club's biggest followers began liquidating his holdings within the project.
What is the cheapest Bored Ape? ›Bored Apes was first released in April 2021 at an original price of 0.08 ETH,equivalent to about$192 at the time. The cheapest Bored Ape Yacht Club NFT is around 152 ETH,or about$429,000.
How to buy Bored Ape Yacht Club for cheap? ›- Open an online account. BAYC is hosted on the Ethereum chain. ...
- Buy or download a crypto wallet. You will need a cryptocurrency wallet to both purchase and store an NFT. ...
- Send ETH to Metamask. ...
- Make your purchase.
ApeCoin could reach $1,000 in 2030 if it could trade in the region of $500 to $700 by the close of 2028. It took Ethereum more than five years of trading experience before surpassing the $1,000 price milestone in 2021.
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How much ApeCoin is 100 usd? ›| $ US Dollar | ApeCoin |
|---|---|
| 100.00 | 24.51 |
| 250.00 | 61.27 |
| 500.00 | 122.55 |
| 1,000.00 | 245.10 |
A Bored Ape Yacht NFT has gone on record as the highest sale ever in terms of ETH paid.
What Bored Ape sells for 3.4 million? ›A single Bored Ape Yacht Club NFT sold for $3.4 million at a Sotheby's auction that finished this morning. It's a new record for the popular Ethereum NFT avatar collection, which has generated nearly $1B in secondary trading volume across its sets.
Who owns the first Bored Ape? ›
The Bored Ape Yacht Club was developed by Yuga Labs. At the time, Yuga Labs consisted of four people, all of whom went by pseudonyms. There's Gordon Goner and Gargamel, who are the two co-founders, and two friends who helped on the development side, No Sass and Emperor Tomato Ketchup.
What Bored Ape sold for $10 million? ›NFT traders holding more than 70 Bored Ape Yacht Club NFTs sold them for around $10 million yesterday. The liquidity provided by Blur's marketplace meant BAYC's floor price held steady.
How much is Bored Ape 1 worth? ›Bored Ape Yacht Club price is unchanged in the past week.
The current price is $83,595.08 per BAYC.
An NFT holder sold a Bored Ape Yacht Club (BAYC) non-fungible-token (NFT) worth $350,000 for a meager $115. This either appears to be a hack or an honest mistake, but has costed the collector a fortune. For those who don't know, BAYC NFTs are a popular collection of 10,000 unique bored apes created by Yuga Labs.
Is it too late to buy ape coin? ›If you believe in the fundamentals of blockchain technology then it's never too late to buy Apecoin or any other coin.
How long will ape staking last? ›ApeCoin Early Staking Benefits
Thus the most $APE will be earned in the first 90 days of each staking period and will decrease each quarter until the end of the three-year staking period.
APE staking comes with little risk.
ApeCoin is a decentralised project inspired by Yuga Labs' Bored Ape Yacht Club project.
Snoop Dogg performs with his Bored Ape character, Dr. Bombay, in February 2023.
Have Bored Apes lost value? ›Many Bored Ape NFTs have lost considerable value in recent months, including one purchased by singer Justin Bieber earlier this year for $1.3 million worth of ETH that's only valued around $69,000 today.
Does Justin Bieber own a Bored Ape? ›Justin Bieber purchased this Bored Ape NFT in January for $1.31 million. Some have wondered why Bieber even bought the otherwise unremarkable ape in the first place.
Why is Bored Ape so popular? ›
A major appeal of Bored Apes is their use as avatars—many owners change their Twitter and WhatsApp and even LinkedIn display pictures to their apes. They draw less from the lo-fi early internet aesthetics of other NFT projects like CryptoPunks and more from comic books and Pokémon cards.
Can I sell Bored Ape Yacht Club? ›Those who are lucky enough to own a BAYC NFT can sell the image of their ape. The BAYC allows people to do this, unlike other 'blue chip' projects such as CryptoPunks. The creators of the BAYC, Yuga Labs, grants holders permission to use the image of their apes for profit. One example of this is Happy Dad.
How many Bored Apes have been sold? ›There are 10,000 Bored Ape NFTs. They have already been created and sold. It is unlikely that any new apes would be produced because it would decrease the value of the Bored Ape NFTs that currently exist.
How much was ApeCoin when it first came out? ›Bored Apes are expensive, while ApeCoin tokens are relatively cheap, initially going for a little over $20. By rewarding Bored Ape owners first with the tokens, Yuga may have hoped to play on that exclusive-club FOMO.
Who owns ApeCoin? ›YugaLabs is the company that owns the rights to Bored Apes, Mutant Apes, CryptoPunks, Meebits, and Kennel Club NFT projects. YugaLabs and the ApeCoin DAO are using momentum from their NFT projects to create new web3 applications.
Can ApeCoin reach $100? ›The estimated price prediction tells us that APE coin can reach up to 500 USD before the end of 2025. Will APE coin reach $100 in the near future? APE coin price of $100 can be expected within a year, as it is backed by one of the best NFT communities and crypto investment firms.
Can ape coin hit $50? ›Both Bitcoin and Ethreum have been struggling and are down by 20% since April. Meanwhile, it's all rainbows and sunshine recently for ApeCoin, a coin connected to the Bored Ape Yacht Club NFT collection that is now dubbed as a $7-billion coin.
How much will ape coin be in 2024? ›| Year | Minimum Price | Average Price |
|---|---|---|
| 2024 | $8.95 | $10.17 |
| 2025 | $13.02 | $14.24 |
| 2026 | $17.08 | $18.30 |
| 2027 | $21.15 | $22.37 |
Owners of Bored Apes are considered members of the BAYC and gain access to exclusive perks such as private online spaces, exclusive merch, and members-only live events.
Why would anyone buy an NFT? ›Why Do People Invest in NFTs? Investors buy NFTs for many reasons. Some are keenly interested in owning the underlying asset, while others may perceive value in the asset being tokenized into an NFT. Others may invest in NFTs as a way to learn more about blockchain technology.
How much have Bored Ape prices dropped? ›
Bored Ape Yacht Club has seen its market cap fall by $2 billion in the past seven months, according to Crypto Presales. Sales of NFTs fell to $1.6 billion globally in the third quarter this year, down 77% drop from $7.3 billion in the second quarter, according to NFT sector tracker Nonfungible.
Is ape and ApeCoin the same? ›ApeCoin (APE) is a utility and governance token that was created to empower the community surrounding the APE ecosystem, which was built on the back of the Bored Ape Yacht Club (BAYC).
What company is behind Bored Ape Yacht Club? ›The parent company of Bored Ape Yacht Club is Yuga Labs. The project launched in April 2021.
Which NFT project is ApeCoin related to? ›Even among the fastest-growing crypto startups, Yuga Labs has had a particularly explosive year. The startup is behind the NFT project Bored Apes Yacht Club (BAYC), which only launched in April of last year but has quickly grown to become the most valuable NFT project by market cap.
What company owns Bored Ape Yacht Club? ›The Bored Ape Yacht Club was developed by Yuga Labs. At the time, Yuga Labs consisted of four people, all of whom went by pseudonyms. There's Gordon Goner and Gargamel, who are the two co-founders, and two friends who helped on the development side, No Sass and Emperor Tomato Ketchup.
What is the highest ApeCoin? ›ApeCoin Price Summaries
ApeCoin's price today is US$4.00, with a 24-hour trading volume of $67.82 M. APE is -1.73% in the last 24 hours. It is currently -3.80% from its 7-day all-time high of $4.16, and 5.17% from its 7-day all-time low of $3.80. APE has a circulating supply of 368.59 M APE and a max supply of 1 B APE.
Conversion tables
The exchange rate of ApeCoin is decreasing. The current value of 1 APE is $4.23 USD. In other words, to buy 5 ApeCoin, it would cost you $21.13 USD. Inversely, $1.00 USD would allow you to trade for 0.24 APE while $50.00 USD would convert to 11.83 APE, not including platform or gas fees.
The rarest Bored Ape is BAYC #7495, notable for traits such as the dagger in its mouth, a cyborg eye, a cross earring, and Dmt fur. Only 49 apes feature a dagger in the mouth, while only 219 apes feature Dmt fur style.
Why do people buy Bored Ape Yacht Club? ›Bored Apes are the cornerstone of an elite movement called, you guessed it, the Bored Apes Yacht Club. Your Bored Ape doubles as your Yacht Club membership card and grants access to members-only benefits—the first of which is THE BATHROOM, a community drawing board where Bored Ape owners can leave digital graffiti.
What do Bored Ape holders get? ›Owners of Bored Apes are considered members of the BAYC and gain access to exclusive perks such as private online spaces, exclusive merch, and members-only live events.
How long has ApeCoin been out? ›
ApeCoin launched on March 16 and was picked up by major crypto exchanges such as Coinbase.
Is Ape coin a good investment? ›And experts are optimistic about APE's value in the year 2025. According to renowned price prediction forum Changelly, APE might be trading between $19 and $22.5 by the year 2025. By 2025's end, if investor confidence in the market as a whole is good, APE might be trading at its previous ATH of $26.70 again.
What are Bored Apes worth now? ›One of Justin Bieber's Bored Apes, bought for $1.3 million in ETH this January, is likely now worth just $70,000.