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SolSea

Hyperborea: Altair Properties Launch
Public mint of 10,000 Solana properties located at Altair on the island of Hyperborea. Welcome to the island of Hyperborea, located in the northern Atlantic Ocean. The properties in this collection is located in the suburb of Altair on Hyperborea. Each of the 10,000 NFTs has a unique combination of features ranging from time of day to the architectural style of the property. With this project, we aim to create a community to build the island of Hyperborea and take it to new heights. From merch to raffles, giveaways, property renovations, and much more, the island will be built by the people. The currency of Hyperborea is the SPL token Leviathan ($LVTN). Holders of Altair Properties will be airdropped $LVTN which can then be used in the Hyperborea DAO, exclusive future drops, property renovation and much more. Public minting will open on September 20 for 0.3 SOL. Whitelist presale minting can be done by people with $LVTN in their wallets, priced at 0.2 SOL. Apply for the whitelist here: https://forms.gle/vRpbEQYWvfdutJvG9 OR contact me on Discord or Twitter. *** Hyperborea is a fictional island created for the purposes of this project
The Shiba Association CLUB
The Shiba Association CLUB is an astonishing collection of 500 unique shiba with different designs / backgrounds. Every Nft to holder has a chance of getting one for free as a giveaway. Follow my twitter for updates and giveaways . The pricing mechanism 0.2 $Sol will be the start for all the regulars with no accessories attached plus plain backgrounds. Every accessory Added will be 0.05 + to the original 0.2 The Collection number will be increasing over time.Born in 2000,Started as a crypto stock investor in 2020 and at the same time creating art as a hobby .I grew into an NFT collector and now an "NFT artist.I create daily, surreal mindscapes. Spending some hours a day creating, tweaking, rendering, and imagining these scenes that has brought forth beautiful rich details from the natural world. Each minute looking into nature leaves me more in awe of its complexity and intricate patterns of change, I am filled with more and more inspiration and reverence for it all, and am honored to be a part of, and create amongst it.
Otters n' Frens: Evolution
Otters n' Frens is a gaming NFT, invading the metaverse and the F2P game industry. All Mutant Otters will be fully playable in the Metaverse. Additionally, Otter holders will receive passive F2P game revenue returns through our staking platform and revenue shares through our royalty distribution mechanic. Gen. 2 Mutant Otters will mark the beginning of our journey into the metaverse. This collection will have a very small supply of fully-rigged 3d Mutant Otters playable in AiternateNFT's Spaceship Metaverse. 3d Mutants will be obtainable through burning 2 Gen. 1 Otters + a small mint fee. Gen. 2 Mutants will reduce Gen. 1 Otter supply by 20-40%. All holders possess partial ownership of the revenue generated from our free-to-play mobile game, paid out through our staking platform.
Trippin Guys
Trippin Guys
Solana
Trippin Guys is a generative collection of 3,333 unique non-fungible tokens (NFTs) that will reside on the Solana blockchain. Our team has designed a diverse and inclusive selection of traits, including hair styles, outfits, accessories, and more to best represent both our world and our wonderful community. //Project's Roadmap and/ or Current Activities (I) Running Promotional Campaign On Social Media. (II) After Minting the Whole Collection, Immediately listing on Marketplace E.g. MG & OP (III) Giveaway & Airdrop to all Trippin Guys Holders. (V)Giveaway to Most Trippin Guys Holders (VI)Working on Trippin Future Projects. //Twitter https://twitter.com/TrippinGuys //Discord https://discord.gg/2G46GePN6G //Name Trippin Guys //Website https://trippinguys.fun/ //Symbol GUYS //Launch Date August 10, 2022 11:00 am (UTC)
Saudi Birds
Saudi Birds
Ethereum
5,555 Saudi Birds are MAX BIDDING. Every Saudi has its own bird. Pre-Sale: SOLDOUT Public Sale: July 30 at 21:00 UTC
Sweet Apocalypse
Sweet Apocalypse
Solana
Welcome to Sweet Apocalypse 1️⃣We are a Solana based Project and many of our plans are still in their early stages. We are a group of three people, surrounded by a Start-up called Sugargames GmbH, settled in Berlin. 2️⃣No promises to the moon, no promises to be big, we will deliver a stable and steady growth 😎 3️⃣All traits are hand drawn by our artist from Hamburg, who has graduated in art and many years of work experience in the game industry. 4️⃣Our art has a cartonish style, the game characters will be similar. The story is similiar to the given title: An apocalypse occured and to not let us feel frighten and fear that fact, we will make our lifes sweet in many ways. Join our journey and let´s have some joyfull times. 🤩 5️⃣The Project will be realised by our start-up Sugargames GmbH home n Berlin. The team will be doxxed by https://app.radrugs.io
SOL MONSTER NFT
SOL MONSTER NFT
Solana
A land besieged by an enemy coming from the pit of Hell, as declared: "Upon the foes arrival will we stumble. Through the 2222, we might rise once more" The Monster, are have descended on earth to avenge for their brother which was killed by the demon of the sea, {THE WATER DEMON}. The earth is scared of loosing it's pride to the fight of two great monsters which made earth their battle field, the rulers of the earth set up a meeting with them to use the space but the two decided to battle on planet earth which was where their brother was killed. 2,222 Monsters were sent down to revenge for a monster soul whereby the earth will be destroy with rage of great two mortals. We have come to dominate, and revenge for the death of our monster brother, from the water demon and the planet earth is our battle field, which we will take over both the earth and the waters.
The Shady Class - Public Mint
Web3 Chibis in the Solana network. 3,333 chibified avatars ready to take on the metaverse and save the decentralization movement. "SHADOWS" (OG NFT) This is a collection of NFTs that will act as the "Tamer" in the platform that will be launched. 3,333 will be initially launched for minting. These NFTs can be staked to earn the economy token that can be used in the Marketplace and the platform. "EXPLORATIONS" (STAKING) The first utility that will be released is all about staking. This will also be the method of taming your Kazes. There will be 2 staking options available that will be launched. What economy token you get from staking can be used in the platform and the marketplace in many ways. Basic project flow 1. Mint 2. Stake 3. Wait for Land/Pet NFT Airdrop 4. Build your own base and breed your pets 5. List all earned NFTs from base and breeding in Marketplace “The Shadows will play..” ‍The year is 2030. Not a lot of humans on the planet. Land resources were scarce. Very few plants in the wild. Even fewer wildlife. A very different ‘earth’ than what anyone would have known. More than 20 years has passed since the ‘Crimson Phenomenon’ but to those who were already alive back then, they could still remember it as if it was yesterday.
Donation Labs
Donation Labs
Solana
Hi there! Donation labs is a project based on the Solana Blockchain! Donation Labs aims to fund great projects in the WEB3 industry, making them come to life. Each month the closed community of holders will be able to submit their ideas, and the top ten ideas will be announced to the community. The three with the most votes will be funded! Within the community, all users will also be able to submit their career skills. That will then supply jobs for freelancers and an opportunity for projects to hire specific people. Each month, the three most voted ideas will be funded with 120 Solana 1st place: 60 Solana 2nd place: 40 Solana 3rd place: 20 Solana How to get whitelisted? Doing the metioned things down below will make you a candidate for a whitelistspot Boosting our server Being a active chat member Inviting new people to the server Participate in giveaways here on discord or on our twitter Minting will be done on Magic Eden Launchpad or on our website which will be announced in late May
Wild Fox Club
Wild Fox Club
Solana
Collection of 2,222 Foxes🦊 that goes WILD inside the #solana blockchain. In a society where every man is fox-minded, you need to be foxier than the fox. Wild Fox Club is focusing on quality over quantity of the art, We focus on creating a community where everyone is open to each other. $WFC or Wild Fox Cash is our utility token that can be use for buying MERCH/NFTs/Etc. Staking - Earning - Marketplace - Verified We the Wild Fox Club Team is aiming to takeover the marketplace and by doing that We are making sure that the roadmap is followed and will be serve to our members. Aiming to be the best among other projects. Aiming to be the best NFT Project in Solana Blockchain. Aiming to be recognize as a Team and as a Community. Aiming to give a quality product to all of the holders. #WAAW #WeAreAlwaysWild Be with us! Let's make SOLANA WILD!
Wild Fox Club
Wild Fox Club
Solana
Collection of 2,222 Foxes🦊 that goes WILD inside the #solana blockchain. In a society where every man is fox-minded, you need to be foxier than the fox! generated, each with unique characteristics and different traits. Wild Fox Club is FOX inspired Art which you can use to access exclusive perks for our community and for IRL Events. We have a lot of plans for our future holders. We are going to create our own Den inside and outside the solana Blockchain. Get our Own Brand and create our own unique Style. We the Wild Fox Club Team is very happy to be part of NFT Space and have project with loving members. WFC Team will continue to create the best for the community. We have A lot of events/giveaways/games inside our communitiy! JOIN OUR DISCORD FOR MORE INFORMATION! #WeAreAlwaysWild #WAAW
Wooly Land
Wooly Land
Polygon
Wooly Land is a collection of unique volleyball NFTs--- unique digital collectibles living on the polygon blockchain. This collection is about the expressions of my virtual character named wooly- the volleyball ... I have played with colors and tools to create fluff. The wooly land is the land of expression. It does not matter what is the color and size of the wooly, the only things that matters are the mood and expressions. It is 100% hand-drawn original art in different colors and sizes each representing unique facial expressions and daily life moods. You can have your own wooly depending on your mood. Are you Happy? Sad? Angry? Excited? Shocked? I can’t wait to find out. The project is in starting phase right now and the floor price of the collection is 0.047 ETH, but the prices are still negotiable. There is a total of 10 characters right now out of which three characters are already sold, so do not wait and get your wooly today. Weekly sales are also available, so stay connected and follow our Twitter account to get the latest updates. Mint & join the colony today.
KinkySol
KinkySol
Solana
KinkySol is a NFT collection of 500 pieces generated by cool and artistically attributes in Solana Blockchain. 😈Why don't u look at the project covered by kinks, sexiness and of course a little bit lust. KinkySol is the Solana blockchain project that takes NSFW NFT art. Oficially launches on 20th May.Allowing to users to remember their kinks,desires and lust. The KinkySol project will be minted 2 times. 1st one is for whitelist, 2nd one is for all.At the point of minting, KinkySol is created with lingeries or sexy costumes.Head styles, colors, background, tattoos will be randomized at the time of minting. It makes every piece of Kink unique. Thousand Kinks will be available to mint. Kinks can be purchased with Phantom wallet. About KinkySol KinkySol is the sexiest collection of NFTs for adults. Every costume has their own unique kinks. This collection is created by full of sexiness and lust, together, let’s make kinks great again.
Forest Industry
Forest Industry
Solana
Forest Industry is a collection of 555 animated cards on the Solana blockchain. All cards will be transferred to the upcoming game to bring it's own daily income and show their secrets! PHASE ONE📌 •Creation of a collection of 333 pieces on the Solana Blockchain.✅ •Secondary market Approval (Magic Eden, Solsea).✅ •Launch Website.✅ •Mint✅ •Maintaining the price on the secondary market and holding promotions for the distribution of Sol from the percentage of Royalties in our official Twitter.✅ •Starting an NFT game development.✅ PHASE TWO📌 •Distribute the time period for the following collections to maintain balance and price.✅ •Creating a Whitelist and privileges for it. •Creating 2 waves at 555 NFT. •Mint •Release of 5 collections for a total of 3333 NFTs •Creation of p2e game where purchased NFTs will be used. •Creation of the Onyx token as a game currency. •Game launch.
PiratesXnavy OPEN BETA 0.1.7
PXN is a collection of 777 Mixed NFTs on the Solana Blockchain with unprecedented community mechanics(Your private Space Inside PXN Discord Server). 2 communities merged together to create a clashing environment. Join as a beta tester and enjoy exclusive access to a private crew and win huge welcome bonuses along with a chance to win lifetime discount passes.

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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