What is ApeCoin? ApeCoin (APE) is a cryptocurrency distributed by Yuga Labs via airdrop to NFT holders on March 17, 2022. In this article, you can find answers to questions asked by investors such as what ApeCoin is, what it offers, what is APE, what it does and how to get it. cryptocoin.com we have prepared for you. Let’s examine together this altcoin associated with Yuga Labs NFTs.
What is ApeCoin?
ApeCoin is a cryptocurrency launched on March 17, 2022 by Yuga Labs, with a market capitalization of over $4 billion. This cryptocurrency is linked to Yuga Labs’ NFT collection called Bored Ape Yacht Club. Accordingly, APE powers the eccentric, colorful and immensely popular BAYC ecosystem. Meanwhile, APE, built on the Ethereum network, also serves as the governance token of the ApeCoin DAO.
The Bored Ape collection has become extremely popular over the last few years. Many famous names such as Justin Bieber are among the owners of BAYC NFT. Therefore, it is extremely likely that ApeCoin will be bought by various artists and celebrities and used for other brand interactions. For example, Snoop Dogg and Wiz Khalifa have released an NFT soundtrack album, available for purchase with APE. TIME magazine has announced that it will begin accepting subscriptions paid with APE.
What is expected in the future for ApeCoin?
ApeCoin has an important role as the de facto currency for BAYC’s upcoming Metaverse, Otherside. The BAYC team announced the Otherside Metaverse project in an official tweet on March 18, 2022. Metaverse aims to use APE as the main currency for in-game purchases. Thus, it will help the entire NFT community explore a new digital world and interact socially and economically.
In this MMORPG, APE holders will have the advantage of paying for NFTs and services. So the entire economy of Metaverse will move forward with ApeCoin. Meanwhile, the community behind the cryptocurrency has other goals. This ERC-20 token on the Ethereum network aims to expand to other NFTs and Metaverses in the future.
What is APE? What is it used for?
The cryptocurrency designated as APE is basically an acronym for ApeCoin. ApeCoin is mostly used as a governance token for the DAO. Token holders can also trade on major exchanges with cryptocurrencies. They can also purchase Yuga Labs NFT collections like BAYC. With the recent release of Otherside Metaverse, the uses of APE will expand even further.
Meanwhile, some third-party projects have also approved the use of ApeCoin. For example, Benji Bananas, a popular mobile video game created by Animoca Brands, has integrated APE. Accordingly, players can earn in-game tokens that can be exchanged for ApeCoin. So Animoca Brands has turned their game into a play-to-win (P2E) game with APE. It is also possible that more such adoptions will emerge in the future.
What is ApeCoin? How to take APE?
Investors interested in ApeCoin can find the token on many major cryptocurrency exchanges. Currently APE; It is listed on major exchanges such as Binance, Coinbase, Kraken, and Huobi. Those who want to buy the token should become a member of these exchanges and deposit money in their wallets. After that, he must follow the purchase steps and place a purchase order for the token. Users who do these can purchase APE depending on their balance.
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