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The Wacky Dog Club
The Wacky Dog Club
Polygon
The Wacky Dog Club Aims To Build A Community Of Conciencious Human Beings Pulling Toguether To Bring Awareness And Support To Those Suffering With Mental Health Issues Such As Anxiety And Depression . Our Community Welcomes Wacky Geniuses, Daredevils, Zealots, Financially Savvy And Successful Humans. Come Join Us To Make The World A Better Place... Metaverse’s First NFT Collection With Custom Boosts And Ranking System. Collect Your Wacky Dogs Now ! To Take Part In Exclusive Metaverse’s Projects. By Getting These Wacky Dogs You Will Have Following Benefits : NFT STAKING & BABY NFT GENERATOR ! Through Getting Wacky Dog NFTS You Will Be Able To Stake Them To Earn Annual Yields + You Can Also Lock Them For Certain Days To Get A Baby NFT As A Reward From The Same Collection MULTIVERSE By Getting Access To Wacky Dogs You Will Be Able To Get Access Into Multi Metaverse's Projects. These Wacky Dogs Can Help You To Perform Various Tasks Based On Thier Working Capacity & Rank. P2E GAMES Through Wacky Dogs You Would Be Able To Take Part Not Only In Our P2E Games But Others Also.This Will Be A Game Changer In The World Of Metaverse
Karma Cats Metaverse
Karma Cats Metaverse
Ethereum
Karma Cats is an NFT collection with the vision of offering holders ownership in a real business. 5,555 delightfully cute cat NFTs living on the Ethereum blockchain each represent ownership in Karma Labs, incubator and launchpad for world-class international yoga retreats and lifestyle apparel brand. Our NFT is jam-packed with extraordinary utility for holders, giving you not only access to real-world experiences and exclusive merch, but actual ownership roles in a real business. Founded by entrepreneurs who have already been running these exact business models with success, the long term value for holders is guaranteed. Our mission is to raise the collective vibration through epic community, retreats, and swag. Join us on this joyful Web3 journey and let's take these cats to the moon.
The Lunartics
The Lunartics
Ethereum
Lunartics have their Moon Bags packed! Armed with tiny bodies and even tinier minds, Lunartics have been making desperate attempts to Moon It since 1969 when Neil Armstrong unwittingly ripped them away from their home. Created by FOX Animation legend Julius Preite (Simpsons, Family Guy) and notorious Writer/Producer Dan E. Fesman (King of Queens, NCIS). Each season will launch a new series of animated videos of the Lunartics’ most futile and embarrassing missions to the moon over the past 50 years. Lunartics holders will be able to vote on upcoming missions, and even have a voice in the shape of the series! And, if they’re lucky, see their character pop up in a future episode. Go behind the scenes with two industry insiders, rub shoulders with an exclusive community of creators and animators, and be a part of the next big bang when blockchain technology converges with the world of entertainment! Ξ0.08 per NFT + gas. There is no change in mint price between whitelisted and public mint.
The Invisible
The Invisible
Polygon
The invisible collection is limited to 5578 NFTs and live on the Polygon network, it was launched on March, 2022. The Invisible is NFT art / 3D art designed or drawn through 3D models and randomly generated with over 200 different attributes, stored as an ERC-721 token and hosted on IPFS. Buying and owning 'The Invisible' gives you full commercial rights. Story... The Invisible is 3D art NFTs that is dashing, muscular, colorful and may looks yummy. 😋 Surely many from us want to be invisible but that is a dream that will never come true from then until now... So ‘The Invisible’ will give a little light for us to dream and imagine having invisible powers and being a good super hero. About NFT and what you can do with The Invisible NFT... NFT stand for 'non-fungible tokens' is a unique digital asset on a blockchain. For example, an NFT can be attached to digital art such as picture, games, music, character, video, etc. NFT are digital asset that you can buy, sell (trade) and own.
Medieval GLory - Whitelist Mint
Whitelist mint: 04/27 Public mint: 04/30 So, what is Medieval Glory? Medieval Glory will use the power of Blockchain to create a fully decentralized medieval and mystical world in which the people themselves will have complete control over the politics and way of life of the citizens of Ebiron. Why is Medieval Glory different? Our mission is to create a mystical world unlike anything you’ve seen. We have history and a universe created entirely for Medieval Glory. You will have access to a world where the people themselves will build the story. Medieval Glory offers a few key advantages 1 – A whole new world: We took care to create something totally new and exciting for our holders. We spent a few days thinking about how beautiful and wonderful the world of Ebiron will be. 2 – You will build everything with us: All our holders will have access to our DAO (Decentralized autonomous organization) entitled Bard’s Taverns where all our holders will have the right to make decisions in the creation of our world. To learn more, click here. 3 – We want to create something big: We don’t just want to be just any game, our desire is to create the largest mystical medieval community in the world and together we will create an MMORPG, a tabletop RPG, themed bars and restaurants (You can create your own themed space. If you are a holder of one of our NFTs, you will have all copyrights to it), clothing sales and much more.
Bored Hainu Club
Bored Hainu Club
Polygon
The Bored Hainu Club will be launched as a fixed set of 444 unique Bored Hainu's on polygon Blockchain. There will be massive profits by holding Bored Hainu's in form of NFT's, own at least one NFT and get whitelisted for free in our upcoming NFT Project's. 44 Board Hainu's have already been minted, We will be live for sale from 5th May on Opensea & Rarible with floor Price of 0.035ETH on Polygon Blockchain [ZERO GAS] 50% of our Creator Earnings + 20% of sale amount will be given as a charity and 30% of our Creator Earnings + 20% of sale amount will be given as rewards to 5 random holders of Bored Hainu's on 1st of every month. Join our Twitter and Discord to get early update's for our project. Roadmap will be Released soon on our website, Discord & and other social media Platforms.
ThePupa
ThePupa
Polygon
3333 ThePupa is a slug-like creature that contains all the information and history of the planet Shlorp within its DNA. When it reaches maturity, it will grow in size to consume the entire planet, terraforming it into a new planet Shlorp. ... and the best is yet to come, check out our roadmap. ROADMAP Work in progress - we're adding more to this soon. 1. PROJECT START & AIRDROP We will place the collection on OpenSea and Rarible. We will give away 700 NFT for free. 2. PIXAPUPA These pixel art NFTs will be free for all ThePupa holders (just pay gas). You will be able to mint one per ThePupa that you own. After that, we will open this collection up to other minters. 3. ThePupa Game We will develop the game ThePupa. Holders will be able to exchange their NFT for ThePupa game characters. 4. LOOT BOX We will create a snapshot and allow all holders to claim one or more loot boxes filled with ETH prizes, discount deals, whitelist spots for other projects and even some NFTs. 5. STAKING + COIN Details will follow, and keep in mind that this is a long-term project.
Cute Paws NFTs
Cute Paws NFTs
Avax Network
Cute paws is a collection of 5,000 NFTs. Each of the Cute cats has its unique, Outfit, Face, ears, hat, body color, Necklaces, and so on. Over 100 super assets have been put together and randomized to create these 5,000 Cute cats. The cute paws community is built for the love and care of pets (Paws) and to build a Digital space for the pets, so that all the pets lovers can own a digital pet, which is not just a pet but an asset. Super Paws comes in various colors and forms, from Common, Legendary, Rare and Super Rare. What do i get from the projec? The Cute Paws are incredible collection of NFTs that not only provide their holders with insane utility, but also provide access to an amazing community full of like-minded people and access to much more life changing opportunities. As a holder of this cute paws, you will have access to our market places where you can advertise your products and services to the world at zero cost but by just holding one or more cute cats. Isn't that amazing? A lot of opportunities are attached to these digital cats. Don't forget pets make us happy.
Cats Corporation
Cats Corporation
Ethereum
Cats Corporation project brings together cat lovers and tech enthusiasts. We strive to create an innovative ecosystem based on up-to-date technologies for everyone who believes in a transparent WEB 3.0 era future. The time has come to extend our invitation to you to join our waitlist. We are all scrambling and pouncing around in anticipation of our launch. So those of you who have not yet joined the waitlist, we suggest you do so, as there are a limited amount of spaces left. The early bird catches the worm, as they say. Those who have joined can get a unique animated collection launched the next week. To join us: - Enter our Discord; - Fill the WL form; - Wait for approval; - Congrats, now you get access to: 🎲 10,000 unique NFTs from hooman artists with their own lore and catverse 🐱 Limited 3D cats for our holders
Naughty Saints Party
Naughty Saints Party
Polygon
The Naughty Saints Party is a collection of 10,000 unique NFTs of Naughty Saints. The owner of Naughty Saints NFT is granted membership access into Naughty Saints NFT Club, including the members only areas. This NFT Club aims to enable people to connect with each other and build Communities embracing naughty or fun stuffs. This NFT Club welcomes ideas and proposals for collaboration from Freelancers, Influencers, and Brands. Contract Address 0x041fcE4Baa1cfdC8fA4984bD2d34aFaF93eCF819 The Naughty Saints NFT are stored as ERC-721 tokens on the Polygon Network (Matic) blockchain and hosted on InterPlanetary File System (IPFS). There is no minting for Public. We had minted all the 10,000 Naughty Saints NFT and list them for sale in OpenSea and Rarible. Each Naughty Saints NFT costs 0.08 Wrapped ETH in fair launch. Man, Woman, Transman, and Transwoman Saints NFTs are available.
MinerAnts- Mutations of zodiac and Ants
MinerAnt World is a decentralized automated massive ant world where your mutated ants work for you daily for a period of 60 days to earn you passive income reducing the stress of flipping your MinerAnts NFTS. Eggs are hatched into MinerAnts and they immediately start mining MANT Tokens automatically for the owner daily for 60 days. All you need to do is claim your mined rewards with a press of a button. MinerAnts was formed when catastrophe fell upon the home planet of an unknown ant species and combined their DNA with zodiac energy resulting in a unique mutation of colorful and much more hardworking and aggressive ants. There will only be 1000 MinerAnts available for minting. We haven't launched MANT tokens and MinerAnts NFTS yet but we have minted 11 on opensea @0.034eth for private sales before launch at a much cheaper price tag for early holders. Visit our Discord for more details
coffee
coffee
Ethereum
ONE COFFEE ONE NFT COLLECT, TRADE OR OFFER NFT COFFEES ON THE BLOCKCHAIN COFFEES are part of our daily lives, whether physical or virtual, so we are transporting them to Metaverse. FIRST TO COME, FIRST TO SERVE.
Pixel Punks
Pixel Punks
Ethereum
Pixel Punks are 2222 unique 3D characters, created by generative algorithm, then registered on the Ethereum blockchain. Join the Pixel Punks community where all users are equal. Pixel Punks avatars will help you differentiate yourself from all Metaverse users. Pixel Punks holders earn passive rewards and benefits as the roadmap is unlocked, these rewards include other NFTs, discounts on Pixel Zolandia collectibles and Zolandia exclusive merch! As we progress and grow as a community, coin collectors will start to see rewards as the roadmap is unlocked when hitting certain sales goals. For more information on the Coin Heads or our roadmap please visit our website. Join the community we're building and stack your coins!
Social Penguin
Social Penguin
Binance Smart Chain
Social Penguin is a collection of 7,777 high utility NFTs on the Binance Smart Chain. Earn passive income by receiving the HYDRON utility token.
Dolphino NFT
Dolphino NFT
Ethereum
Dᴏʟᴘʜɪno ɪs ᴀ ᴄᴏᴍᴍᴜɴɪᴛʏ ʙᴀsᴇᴅ ᴄᴏʟʟᴇᴄᴛɪᴏɴs NFT ᴘʀᴏᴊᴇᴄᴛ. Dᴏʟᴘʜɪɴo ɪs ᴄʀᴇᴀᴛᴇᴅ ʙʏ ᴍᴏʀᴇ ᴛʜᴀɴ ᴀ ᴄᴏᴍʙɪɴᴀᴛɪᴏɴ ᴏғ ᴀʟɢᴏʀɪᴛʜᴍs ᴀᴜᴛᴏᴍᴀᴛɪᴄᴀʟʟʏ. Eᴀᴄʜ Dᴏʟᴘʜɪɴo ɪs ᴀ ᴜɴɪǫᴜᴇ, ɴᴏɴ-ғᴜɴɢɪʙʟᴇ ᴛᴏᴋᴇɴ (NFT) ᴏɴ ᴛʜᴇ Ethereum ʙʟᴏᴄᴋᴄʜᴀɪɴ. Each Dolphino NFT is unique and randomly generated from over a million different combinations. Some are rarer than others but all are equally cool Non-Fungible Token (NFT) on the Ethereum blockchain -10000 unique total supply -6 unique types, 50 another layers unique -Listing on biggest Marketplace NFT on Ethereum blockchain -Stable price on floors -Exclusive access, rewards and merch only available to holders -$50.000 for donations and giveaway

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Top Tier Athletes And Their Involvement In NFT World

Top Tier Athletes And Their Involvement In NFT World

Many parents support the idea of their offspring becoming athletes and sports stars. When asking a child about their career aspirations, becoming a sports star would top the list. Though reaching the pinnacle is difficult, it is one of the best careers in the world. The attraction to sports is the players' financial gain and adulation. Anyone who reaches the top of any sport will become financially free. Furthermore, players from the most popular sports are celebrities on par with actors and famous businesspeople.

The vast sums involved in sports are due to the massive interest and demand from the general public. People love sports and are willing to pay enormous money to watch sporting events. Due to the fascination, businesses not involved with sports pay massive advertising fees to become associated with the sport. There are many sports, from golf, martial arts, cycling, and racket sports to track and field events. It is an endless list.

However, some sports have better earning potential than others. Sports such as soccer, football, basketball, golf, and tennis are some lucrative sporting activities. Anyone who reaches the pinnacle in these activities will easily earn millions of dollars. There are few sports stars whose fortunes run into billions. Earnings are not limited to the salary received from the clubs. Top sports stars can accumulate wealth through endorsements, sponsorship deals, and payments from their clubs. The massive earnings are due to the player's skill set combined with their popularity. A famous, well-loved star will command the highest salaries.

Investment Options For Sport Stars

Like all wealthy people, sports stars invest their income; they use their finance to buy more wealth. It makes zero sense for money to sit idle in bank accounts. Investments take all kinds of forms. From starting their own business, investing in other companies to involvement in financial markets are some of the popular forms of investments. Cryptocurrencies and their associated technologies have become mainstream in the last few years. The portfolio of many wealthy people, including sports stars, usually has some investment in this arena.

Investing In NFTs

Non Fungible Tokens (NFTs) are one way to invest in cryptocurrency technologies. This field has attracted many sports stars. Some famous sports stars who hold NFTs include Stephen Curry, Serena Williams, Shaquille O'Neal, and Neymar Jr. These are just a few of the hundreds of sports stars who have become involved with NFTs.

NFTs, with their cartoon art representation, appear fun and appeal to the younger generation. Given that the sports star demographic is of the lower age bracket, it makes perfect sense for these people to invest in NFTs. Owning NFTs can help market sports stars and their brands. Becoming associated with a popular NFT collection will increase the media coverage received. For example, if an athlete buys a blue-chip NFT such as the Board Ape Yacht Club, the news will be seen on all major outlets and social media channels. This is a win-win situation for both the project and the athlete.

The more an athlete is featured in the popular media, the more it enhances their prominence. It allows them to demand more outstanding salaries and endorsements. The involvement of top-tier athletes will help drive up the price of the NFT, a good situation for the NFT project. Additionally, NFTs are an investment opportunity. Though buying NFTs is highly speculative, there is an excellent chance that blue-chip projects will see a price rise. Top-tier NFT projects such as BAYC and Azuki continue to see a price increase.

NFTs can help well-known athletes connect with their fans. The trend is for athletes to buy NFTs from significant projects to date. There will be a more significant number of athletes who will release their own NFT collections. It offers the athlete a way to bond with fans in new and innovative ways.

Holders gain the opportunity to meet the star or receive merchandise. This helps to solidify the relationship; it will lead the fans to become even more interested in the athlete's brand and helps to foster a community of fans in ways never seen before. There is also a financial benefit for the fans. Owning the NFTs of a sports star, the fan can sell these assets. Previously the relationship has been a one-way street; the athlete benefited from fans without much reciprocity.

If the perceived value of the star is on the rise, the price of the NFT will increase. It offers the opportunity for the holder to sell their NFTs for a profit.  NFTs open up all manner of possibilities in the world of sports. Sporting clubs can sell NFTs, which will offer their fans the opportunity to gain merchandise, special ticket allocation, or vote on club governance. NFTs are relatively novel, but there is no doubt that this is a field that opens up opportunities never seen before in the world of sports.

 

Apr 9, 2022
Kate
The Importance Of The Founder In NFT Projects

The Importance Of The Founder In NFT Projects

People who've followed NFTs for some time are aware of these essential considerations when buying NFTs.  Many new members of the NFT community overlook this critical aspect.

Many newbies buy NFTs without much consideration. The usual pattern is for people to hear about NFTs, find the NFT community on Social Media platforms such as Twitter, and become part of the Discord servers of various projects.

A busy server and quality artwork ensure the newbie becomes involved in the community. It leads to the person minting the NFT on launch.

Following the mint, it's common to see the price of the NFT fall in value. After a few months, the founders neglect the project, and the holders find themselves with an NFT with little value.

Since this neglect has been the standard pattern seen throughout 2021, most NFTs on the secondary market are worth less than the price paid on launch.

There have been numerous cash grabs. The founders make six figures from the NFT project, but the investors have a losing asset.

The success stories in the NFT space have received praise. For example, the Bored Ape Yacht Club (BAYC) is admired throughout the NFT community, and any NFT stories in the mainstream media feature the BAYC regularly.

For every successful project, there are far more failures.


Mistakes Made By More Experienced NFT Buyers.

After spending time in the NFT community, people become aware of the requirements of a good project. They commonly look for the following characteristics:

Doxxed Team. The team mustn't be anonymous. Anonymous groups are more prone to carry out rug pulls (where the founders close the project after launch). Investors have no idea of the identity of the founders. As a result, the groups can quickly abandon the project and scam the investors.

Great Community. There must be a sizable community behind the NFT project. People look at Social Media and Discord profiles to gauge the size of the community. Without a community, there is no one to buy the NFTs.

Good Artwork. Essential to ensure the artwork is high quality and in line with the current trends. For example, there is a great deal of admiration for the artwork by Doodles and Invisible Friends NFT projects.

Utilities. Projects need more than artwork to become a success. The only exception is if the NFTs are from an established artist such as Beeple, Banksy, or another artist with a big following in the traditional art world.

Projects without a well-established artist need to provide utilities in the form of Play To Earn games, events, staking possibilities, and more.

People seeking these factors in projects are better positioned than newbies. But many projects satisfying these conditions still fail to succeed, especially in this current climate where the NFT space is experiencing a bear market.


The Importance Of The Founder

The most critical factor in a project is the founder. Many investors entertain projects because the founder is well known. They could be a celebrity or an industry leader.

Unfortunately, many of these projects flounder in the long term. Shortly after mint, there is a pump in price. But a few months after the launch, the value has become less than the mint price.

The founders are not highly active in the project; they make no effort to immerse themselves in the community.

It leads people to conclude (probably correctly) the founders are not interested in the project. The community loses faith, sells their NFTs, and projects end up in the backwaters of the secondary market.

A successful project is one where the founder engages with the community. They should be active before and after the launch. Making themselves involved in the conversations on Discord and Ask Me Anything (AMA) or Twitter Space shows a genuine interest in the project.

An example of a successful project is VeeFriends by Gary Vee. The founder is always available. He is constantly talking about his projects on Social Media and does not go missing in action.

 

Wrapping Up

The most important consideration for any NFT collection is the founder, motives, and project vision.

Unfortunately, the NFT world has seen many cash grabs. The devs and the founders fail to take much interest following the launch.

The reality is that unless the NFT collection is by a genuine, highly established artist, the project starts after the launch.

The easy part is the stage up to the launch; it's the segment where the founders are raising capital to realize a vision. Making their promises become a reality involves hard work.

To date, in the NFT space, many founders are fond of the idea of raising capital. But dislike the effort to complete the project and make the utilities and the roadmap a reality.

Many experienced investors in the NFT community understand the situation and no longer mint NFTs easily. This is a contrasting situation to 2021, where people readily bought NFTs.

Perhaps this explains the current bear trend in the NFT world; sales volumes are significantly lower than the record-breaking numbers a few months ago.

For the investor, the best approach is to take a great deal of interest in the founder. Presenting evidence of interest by the founder ensures confidence in the community.

The involvement of a famous name does not guarantee long-term success.

 

Mar 31, 2022
Bill
Common NFT Scams: Identified

Common NFT Scams: Identified

Scams exist in many areas of life, defined as fraudulently obtaining money or goods from unsuspecting victims. 

The Internet is hugely beneficial for society and helps improve many people's lives. But it has led to criminals using it to defraud people—from phishing and fake shopping websites to dating scams. 

Cryptocurrencies use the Internet and are not exempt from scams. The anonymous nature of cryptocurrencies has made things easier for fraudsters. 

NFTs are an extension of cryptocurrencies and are an arena with frauds targeting newbies and the uninformed. Since this is a relatively new technology, most people have likely been victims of one form of scam or another.

What are some of the common NFT scams?

Rug Pulls

After a project launch, the founders exit the project with investors' funds. The founders close the assets associated with the project, such as the Discord server and Twitter account, and leave the scene. With the founders no longer involved and little trace of the project, the price of the NFTs decreases until it becomes worthless. The investors possess nothing more than NFT JPG images on the blockchain. 

The NFT space has been rife with these scams throughout 2021. As people become aware, these deceptions are becoming less common.

Anonymous founders carry out rug pulls; people have no idea of the real identity. Given the anonymity and lack of traceability with crypto wallets, it's a straightforward scam to perpetuate.

Cash Grabs 

This is rife in the NFT space. The founders of the project promise various developments for the project. 

After the launch, they fail to implement these promises. Over time, the value of the NFTs decreases, and the investors are left holding the bag. 

Nearly every NFT investor has been a victim of such activities. Such schemes are also known as a slow rug; the founders leave the project slowly. 

These schemes are difficult to classify as a fraud; the founders are in a position to kick their promises into the long grass. And many often come up with all manner of excuses why developments fail to progress. 

Pump And Dump 

This is where an individual or a group of people team up to buy large quantities of the cheapest NFTs in the collection (buying the floor price). 

They drive up the collection price, also known as "sweeping the floor" or "wash trading." After a significant price increase, the NFTs are sold for a profit, and the culprits exit the market. The value of the NFTs decreases, people are left with NFTs worth less than the price paid. 

The project founders are known to engage in such practices to drive up the price of their collection.

Project Impersonation

Fraudsters try to mimic real projects by creating websites and social media profiles with a similar appearance to the actual project. 

They aim to lure unsuspecting victims to a website and mint fake NFTs. The victim connects their wallet to mint an NFT, which turns out to be an empty file. 

Victims are targeted through direct messages or posting links in the comment section of Social Media platforms.

The problem has become rampant: fraudsters routinely hijack the real Discord server of a project, disabling the power of admins and moderators and placing links to direct members to a fake minting website. 

Customer Support Scams

This is a problem commonly seen on Discord and Telegram. Scammers contact through direct messages offering to help people mint NFTs or provide bonus airdrops.

As a customer service representative, the scammer tries to obtain wallet details such as passwords and the seed phrase. Using the information, fraudsters drain the funds from the wallet.

The problem is that NFT projects warn members not to engage in direct message conversations. Official members of staff have ceased contact with members directly through direct messages. 

Experienced people will not fall victim to such scams; newbies are the intended targets. 

Intellectual Property Theft And Fake Collections

There are projects known to take the artwork from talented artists and use it for their collection. Without agreements in place, this is a form of theft.

Projects using artwork from an artist without permission are a theme in the NFT community. 

On discovery, the reputation falls, and the value of the NFTs decline in price; it becomes a loss-making investment.

Some individuals take artwork from upcoming projects, load it to marketplaces such as Open Sea and aim to impersonate the actual project.

Buyers of these NFTs become victims of a scam.

Conclusion

Scams are common because the NFT market is new, with many new people entering the space. It allows fraudsters to exploit inexperience and vulnerabilities.

The best approach for a newbie is spending time in the NFT community, networking with others on platforms such as Discord, and becoming fully aware of the technology before major investment sprees.

Mar 24, 2022
Kate
Yuga Labs & Bored Ape Yacht Club (BAYC) Launch ApeCoin Tokens

Yuga Labs & Bored Ape Yacht Club (BAYC) Launch ApeCoin Tokens

Bored Ape Yacht Club (BAYC) is the most iconic NFT collection; it's set the standard for others to follow. The nearest rival CryptoPunks, based on nothing more than artwork, was taken over by BAYC's creators, Yuga Labs, in March 2022. This acquisition has created the biggest juggernaut in the NFT world; no other project comes close in size.

BAYC 's success depends on its ability to evolve, pivot, and provide value to its holders. While many projects offer artwork and no more, BAYC has significantly contributed to the NFT world. They airdropped NFTs from other projects (such as Bored Ape Mutant Club and Bored Ape Kennel Club) to BAYC NFT owners, provided in-person events, and developed online games for its members. Yuga Labs allows the holders to use the NFT they own to create and sell merchandise.

 What is ApeCoin?

As part of this ability to grow, in March, Yuga Labs collaborated with the collective named ApeCoin DAO to drop ApeCoin ($APE) token.

ApeCoin acts as a digital currency in the same way as many other cryptocurrencies. People will be able to spend ApeCoins on upcoming products and services BAYC will offer, including the Play To Earn game launching in 2022. The hope is that ApeCoin may evolve beyond the BAYC ecosystem in the future.

There is a difference between Apecoin and cryptocurrencies such as Bitcoin, Ethereum, and Solana. Bitcoin, Ethereum, and Solana are native coins derived from their perspective blockchain. Apecoin does not have its blockchain and resides on the Ethereum mainnet; it's considered a token rather than a coin.

ApeCoins are not too dissimilar to Axie Infinity Shards (AXS), the native governance token of the Axie Infinity network. Axie Infinity players can buy, sell and trade using Axie Infinity Shards.


Distribution

A total of 1 billion ApeCoins were available; the allocation was as follows:

15% to the holders of Bored Ape Yacht Club and Bored Ape Mutant Club holders,

15% to Yuga Labs,

14% to the partners that helped launch the tokens,

8% to Yuga Labs founders,

1% to charitable events,

47% to ApeCoin DAO

ApeCoin DAO

ApeCoin DAO is part of the Ape Foundation, the governance behind the token. They have the power to manage the everyday running, project management, and bookkeeping of the token system. Holders of the ApeCoins and the DAO can dictate the ecosystem's future, thus making ApeCoin a decentralized system.

 ApeCoin DAO consists of leaders from the Social Media, gaming, and crypto space. These people include Alexis Ohanian (from Reddit), Amy Wu (from FTX), Dean Steinbeck (from Horizen Labs), Maaria Bajwa (from Sound Ventures), and Yat Siu (from Animoca Brands).

The BAYC project and Yuga Labs are separate entities from the ApeCoin DAO. If BAYC and Yuga Labs were closely connected, the project would come under the scrutiny of The Securities and Exchange Council of the United States. The Securities and Exchange Council is the government organization responsible for regulating Securities and protecting investors. To date, the organization has not focussed on NFT projects.

Launch 

On launch, the price of ApeCoins started at almost $40 per token. During the day, the token fell to around $6 as people who received free tokens sold their share. A few days into the launch, the price of the ApeCoin sits at around $11. The vast market cap size has meant that ApeCoin is in the top 50 of all cryptocurrencies.

The token was available on all major exchanges such as Coinbase, Binance, KuCoin, and FTX. It's unusual for new tokens to be widely known, but the popularity of the BAYC meant exchanges readily accepted ApeCoin onto their platform.

Original holders of BAYC NFTs were given 10,094 tokens for each NFT they held. This translates to nearly $400k at the price height and $60k near the bottom.

ApeCoins show that the Bored Ape Yacht Club project continually provides the holders with utilities. These utilities translate into social and financial gain. Unfortunately, the NFT space is riddled with scams and rug pulls. But Yuga Labs have set the blueprint for what makes a fantastic NFT project, an aspiration for other projects to follow.

No one can predict the price movement of digital currencies; there are no guarantees of price increases. The ecosystem created by Yuga Labs is continually expanding rapidly; it's probably a good bet to suggest ApeCoins are potentially a significant investment.

As always, do your own research before investing.

 

 

 

 

Mar 23, 2022
Dave