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ApeCoin Token Review 2023

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ApeCoin Token Review 2023

You may doubt NFTs; however, the Ape Nation is here to stay. Astonishingly, within just one week since its debut in the crypto market, ApeCoin Token (APE) has become one of the most talked-about projects in all cryptocurrencies, as acknowledged by CoinMarketCap’s trend report.

Backed by Yuga Labs – the quickly advancing startup responsible for crafting Bored Ape Yacht Club’s NFT lineup – ApeCoin is an ERC-20 token that reportedly gives away billions to insiders associated with Bored Apes. Also, check our article about Best NFT Tokens in 2023 and THETA Token.

Apecoin Token DAO - definition of ape coin utility

Apecoin metaverseWhat is ApeCoin crypto?

ApeCoin is a decentralized protocol created by Yuga Labs, the makers of Bored Ape Yacht Club. Developers can employ this open-source layer for various projects associated with the ApeCoin DAO and linked to the Bored Ape Yacht Club NFT collection.

Ape Coin crypto offers members of this community an opportunity to expand their reach through decentralization and unlock new potential in culture, gaming, and commerce ventures.

Yuga Labs is launching a groundbreaking blockchain game called Bored Ape, which will use APE as its official currency. Furthermore, other projects in the works, such as marketplaces and events, will accept payments through this ERC-20 token. APE also serves as a utility and governance token within the ApeCoin ecosystem.

ApeCoin launch date is March, 2022.

You can buy ApeCoin on many exchanges, including: Binance, Coinbase, Kraken, eToro, etc.

ApeCoin (APE) is a cryptocurrency intended to support the development of a decentralized web3 inspired by one of the most famous and valuable NFT collections: the Bored Ape Yacht Club. APE is a fungible ERC-20 token built on the Ethereum blockchain.

The APE ecosystem comprises the community holders of ApeCoin and all products/services that adopt this cryptocurrency. Notable in NFTs and digital collectibles, Yuga Labs has stood out as a leader since its establishment in 2021 and headquartered in Miami, Florida, founded ApeCoin.

ApeCoin is an Ethereum-based token that allows its holders to be members of the ApeCoin DAO, a decentralized autonomous organization tasked with making decisions such as fund allocations, governance rules, partnerships, and more. Holding APE allows you to join in on this revolutionary organization's process and have your voice heard.

Bored Ape Yacht Club

The Bored Ape Yacht Club (BAYC) NFT is unrivaled in value – and it’s easy to see why. These digital creatures have become a craze amongst the crypto-collecting community of its wide range of apes, each with unique properties, fur types, clothing options, accessories, and facial expressions. An ape from this club made it onto Rolling Stone Magazine’s cover page – talk about making waves!

On April 23rd, 2021, Yuga Labs launched the BAYC collection, their first NFT. Each ape in this selection was initially sold at 0.8 Ethereum on the primary market, roughly estimated to be $200. Remarkably, its current floor price is over 65 ETH.

The value of BAYC Non-Fungible Tokens (NFTs) is hard to define, as it primarily lies in the eye of the beholder. Nevertheless, its growing popularity can be attributed to a combination of factors. From celebrities joining up with them, its community members’ core strength and enthusiasm, to how owning an NFT gives users access to many great utilities. It’s no wonder audiences are still so attracted by what Bored Ape Yacht Club offers; there are tons worth exploring here.

Apecoin BAYC NFT crypto - OpenSea screenshot of Bored Ape Yacht Club collection on marketplace

Apecoin NFTApe Coin Founders

Yuga Labs, the forerunner of NFTs, is responsible for Bored Ape Yacht Club – a dynamic collection of 10,000 ape-themed Non-Fungible Tokens with distinct characteristics and features. They have been allocated 150 million APE tokens alongside 10 million going to the Jane Goodall Legacy Foundation. The management token from Yuga Labs controls the BAYC (Bored Ape Yacht Club), MAYC (Mystical Animal Yacht Club), and KAYC (Killer Astronaut Yacht Club) initiatives in this ever-growing market of Non-Fungible Tokens.

The ApeCoin token website and other trustworthy sources report that the ApeCoin DAO is overseeing the launch of ApeCoin APE. Every APE holder belongs to this governing body, which purposes like a large Board of Directors where token holders can cast their votes.

Apecoin buyApeCoin Wallet

APE coin token is an ERC-20 token, so it’s highly suggested that you use MetaMask as your non-custodial wallet. Not only will this enable a safe connection to a hardware wallet like Ledger Wallet, but it also provides the option of storing your tokens on Trust and MyEtherWallet.

Apecoin launch dateWhere To Buy ApeCoin?

There is plenty of options when selecting where to purchase ApeCoin crypto. This particular token has gained immense popularity among investors in recent months, with many exchanges offering it since its launch in March,2022, such as:

Buy Ape Coin crypto NFT token - list of exchanges where you can buy Apecoin

Apecoin release dateApeCoin Utility

The following are utilities of the APE token.

Governance

Possessing ApeCoin token gives its holders the extraordinary privilege of voting on decisions that shape and define the DAO.

Utility

ApeCoin is the utility token of its ecosystem, unifying spending across an array of products and services like play-to-earn games on the BAYC club.

Access

The coin APE functions as a moderator in the ecosystem, providing access to exclusive sections such as games, events, and products for only those with authorization.

Apecoin APE Utility and Wallet - List of utilities of coin APE

Incentivisation

Third parties can get involved in this ecosystem by integrating the token into games and other services. For instance, Benji Bananas has a membership pass that grants you exclusive access to unique coins which can be redeemed for APE tokens. This pass is an NFT (Non-Fungible Token), allowing users to earn rewards from playing Benji Bananas.

Apecoin where to buyIs ApeCoin BAYC a Good Investment?

Investing in ApeCoin is akin to wagering on the future success of Yuga Labs. Although they have only been operational temporarily, the company has already achieved an impressive $4 billion valuation. Even if no changes occur with regard to the value of ApeCoin, it appears that Yuga Labs will continue its trajectory due to its exciting metaverse game launch.

Where to buy ApecoinApeCoin Token – Conclusion

NFTs have arrived, and APE’s ecosystem, packed with its decentralized network of NFT collections, is undoubtedly a surefire way to capitalize on the potential that web3 offers. As BAYC’s attention-grabbing NFTs continue to make waves, users are already using them inventively. To top it all off, Yuga Labs has partnered with game studios – so now you can experience your digital assets like never before. Owning an Ape Bored NFT means more than ever, as they open up a world of possibilities when interacting with these unique tokens.

Investing in tokens, including crypto-assets and NFTs, is essential to understand that it may come with considerable risks and fluctuations. The value of tokens can fluctuate widely and rapidly, and investors may experience significant gains or losses. Additionally, the cryptocurrency and NFT markets are largely unregulated, which can increase the risks associated with investing in these assets. Before investing in tokens, it is essential to do your research and fully understand the risks involved. It is also advisable to consult with a financial advisor to determine whether investing in tokens is appropriate for your financial situation and goals.

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