With the launch of the ‘Otherside’ metaverse, ApeCoin will also be used to purchase virtual lands, play games, and purchase services. ApeCoin was launched by Bored Ape Yacht Club to be utilised as the BAYC ecosystem’s main token, from commerce to games. Infrastructure for ApeCoin holders in the APE ecosystem is built, provided and maintained via the ApeCoin DAO. APE is an ERC20 utility token and the ecosystem’s primary token for all new services and products. 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.

Added to this, the crypto Twitter account WhaleStats tweeted that PancakeSwap was one of the most popular and sought-after cryptocurrencies among the 500 largest Bitcoin whales. Although the release of PancakeSwap V2 didn’t really increase price action on PancakeSwap , analysts predict the token to start its ascent as early as Q1 https://xcritical.com/ 2023. ApeCoin was initially created by Yuga Labs to capitalize on the success of BAYC, but since its inception, ApeCoin has taken on use cases beyond this scope. With a loyal community behind it, ApeCoin has proven its resilience for investors. With recent price increases alongside the news of ApeCoin’s involvement in Otherside.

ApeCoin Price Prediction

As more companies start to explore the possibilities of the metaverse, we are likely to see even more innovative uses for this technology. On 30 April 2022, one of the largest NFT marketplaces, OpenSea, announced that it would start accepting the APE cryptocurrency for NFT purchases on its platform. This what is apecoin led to a one-day gain of over 30% as the APE price rose to just below $25. Incentivization – Developers of new blockchain projects like games or metaverses can incorporate APE into their projects and participate in the Bored Ape ecosystem. APE is a fungible, ERC-20 token built on the Ethereum blockchain.

Wallet Investorwas – perhaps surprisingly, given the site’s regular bearishness – positive in terms of an APE price prediction. The site said the token could be worth $9.23 in January 2024 before climbing to just below $27.69 in five years’ time. By 24 March, the APE token price had climbed back to over $14 as anticipation grew ahead of the first ever ApeCoin DAO voting event, which was due to take place on the day.

How is the APE token used?

The original BAYC collection was developed by Yuga Labs, a company founded in February 2021 and whose three collections—BAYC, MAYC, and the Bored Ape Kennel Club —helped drive $127 million in revenue that year. Yuga Labs is led by CEO Nicole Muniz, who is a former partner at advertising company B-Reel and founder of her own boutique consulting agency.

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The greater the APE you hold, the bigger your decision-making power. Going back to ApeCoin, because it is stored on the blockchain, it is immutable and cannot be duplicated, and that makes it akin to a collectible in itself. As we will explore, holding these NFTs can also bring certain benefits.

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In a few years, we may be largely living “on the edge.” As the amount of data grows exponentially, there is a greater need for edge computing solutions to aid in real-time decision-making. There’s a crucial difference between tokens and private shares. The foundation’s board is Alexis Ohanian, FTX executive Amy Wu, Maaria Bajwa of Sound Ventures, Yat Siu of Animoca Brands and Dean Steinbeck of Horizen Labs. If you are planning to trade crypto, please consult a financial adviser. Showing how wealth is distributed between all holders, for example, the top 10 richest addresses hold 80.70% of all available supply.

Bored Ape Yacht Club has been a catalyst for a wave of NFT and crypto adoption. The ApeCoin project aims to propel the APE community into the Web3 world by providing a common unit of exchange for the broader APE ecosystem. As one of the most successful and prominent NFT projects, BAYC NFTs have seen incredible price action in recent months. BAYC holders received an airdrop of ApeCoin tokens to thank them for their commitment to the APE ecosystem. The price action of ApeCoin has caused quite the frenzy for speculators in recent weeks. In the future, we can expect to see the APE token play an essential role in incentivizing third-party development throughout the APE ecosystem.

Check prices on YouHodler’s ApeCoin wallet app and platform

Airdrops are a common way for crypto promoters to get people interested in new coins, because they can be targeted to people who already own specific tokens. We also gather additional information from different sources to make sure we cover all necessary data or events. One known quirk of the ApeCoin staking model is apparently tripping up NFT holders, however. The price of APE coin in terms of USD saw high volatility in the first few days after launch. 20 and 28, APE coin price grew by more than 66% from around $9 to over $15.

This forced the team to relaunch the project under the new name Horizen. The Horizen Labs platform was chosen by the DAO of the Bored Ape Yacht Club through a vote. The weight of the voters, as is usually the case in a DAO’s voting initiatives, was determined by the amount of Apecoin each of them possessed. At launch, the total market value of ApeCoin was immediately over a billion dollars. It hasn’t left the top 100 and even climbed to around #35 at the time of writing , even though the price in dollar terms has dropped in the bear market.

Bored Ape Yacht Club is the flagship NFT series from the APE ecosystem. It comprises 10,000 unique images of apes, each with an individual aesthetic and rarity score. Following the success of BAYC, Yuga Labs released up to 20,000 mutant alternatives to the original Bored Ape collection. Each mutation is facilitated by a “serum”, of which there are three tiers. However, several media outlets report that the ApeCoin price was significantly higher on numerous centralized exchanges. Some reports suggest that the ApeCoin price hit in excess of $200, while other reports suggest an all-time high of $40 moments after the airdrop.

Orbeon Protocol aims to disrupt the crowdfunding and venture capital markets through the use of fractionalized NFTs. Startups can mint these equity-backed NFTs as a form of investment, allowing investors to buy in with as little as $1. ApeCoin emerged as one of the top gainers and cryptocurrencies with the most trading volume as a result of Yuga Lab’s announcement. As the native token of the APE ecosystem, ApeCoin has proved itself as more than a speculative meme token. All ApeCoin tokens were minted at launch, which means you cannot mine them. There has never been a better time to learn a new skill in an emerging tech field.

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But APE will probably mostly be used as a means of payments. For example, in play-to-earn game Benji Bananas, APE is adopted as a reward for players. 8% of the tokens have been set aside for the four founders of Yuga Labs and BAYC. Sign up to our newsletter and stay up to date on new features and exciting new projects.

The token is destined to have in-game utility, featuring within bored ape-inspired games. Conventional businesses like Time Magazine incorporating ApeCoin as a means of payment is an encouraging sign. The Bored Ape ecosystem originated around the launch of the NFT collection Bored Apes in the spring of 2021. The community attracted high profile figures such as Snoop Dogg and Eminem, who bought a Bored Ape NFT. Prices for the Apes NFT’s skyrocketed to hundreds of ETH.

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This NFT sold for 769 ETH, worth around $2.3 million at the time of purchase. 10 Best Corporate Bond Funds in India 2023 – With Returns Corporate bond funds are debt funds that invest at least 80% of the investment corpus in companies … The holders of APE and any products and services using APE make up the APE ecosystem. Primarily, APE functions as the governance token for the ApeCoin DAO. Holders cast votes and collectively make funding decisions, partnerships with brands, DAO rules and more. To sum up, ApeCoin was primarily built as a token to reward BAYC owners, but anyone, regardless of whether they own BAYC or not, can purchase it.

• The Bored Ape ecosystem originated around the launch of the NFT collection Bored Apes in the spring of 2021.
• Perhaps Yuga Labs will succeed in creating successful online games, in which ApeCoin would be needed to obtain valuable items.
• What Is Internet Computer Protocol – Its Price, Investment Benefits And Uses The ICP crypto is the native token of the ICP Blockchain network, which is used to reward the users…
• We are a diverse group of writers, editors and Subject Matter Experts striving to bring the most accurate, authentic and trustworthy finance and finance-related information to our readers.
• Now let’s get to the most interesting part, the price prediction.

ApeCoin token pumped as much as 30.17% today to an all-time high of $17.17. ApeCoin is the cryptocurrency launched by developers of the popular Bored Ape Yacht Club NFT collection and it seems to be surging on buzzy news. Cryptocurrencies are a high risk investment and cryptocurrency exchange rates have exhibited strong volatility. Exposure to potential loss could extend to your cryptocurrency investment.

Perhaps Yuga Labs will succeed in creating successful online games, in which ApeCoin would be needed to obtain valuable items. Also, APE could have a role in its potential own marketplace for NFTs, which would allow Yuga to compete with platforms such as OpenSea. In general, the value of APE will depend on how hard the economy within Yuga’s metaverse will grow. If it grows prosperously, other Web 3 communities may be convinced to adopt APE, boosting further adoption and gains. Anyone holding the coin can vote on the relevant governance decisions. Think issues like allocation of funds, partnerships, and more.

Apecoin price prediction round-up

Tokenizing almost any asset as an NFT that’s represented on-chain is possible. Also, tokenizing assets as NFTs provides a transparent ownership history and can prevent counterfeiting. As you can imagine, this is particularly useful for digital collectibles and art. Still, given the volatility in the crypto market and the continuously unclear macroeconomic conditions influencing it, it is impossible to make a precise price prediction. In the long run, the growth of ApeCoin will depend on the development of its ecosystem and utility.