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They’re still not cheap—it would cost around $US42,000 for one, according to the May 2024 floor price—but that is a huge drop from previous highs. The remainder were sold to the public via a Dutch auction, with $96 million in sales in less than one hour. Bored Apes were first released https://www.xcritical.com/ in April 2021, with an original mint price of 0.08 ETH, equivalent to about $192 USD at the time.
Step 1: Sign up for a crypto exchange
What separated BAYC from the crowd at the time was that it had morphed into a cultural phenomenon. The Bored Ape Yacht Club is an NFT collection created by Yuga Labs on the Ethereum (ETH) blockchain. By most metrics, Bored Ape Yacht Club (BAYC) was everything you need to know about apecoin the most successful NFT art collection, with a market capitalisation at around $US1.1 billion in September 2022, according to CoinGecko. While crypto enthusiasts insist there are myriad possible use cases for NFTs, the most popular—and valuable—application of this unusual crypto technology has been works of art that exist solely on the blockchain. ApeCoin’s supply is fixed at 1 billion APE, meaning tokens cannot be mined or burned. In April 2022, Yuga Labs started minting virtual land in its metaverse project Otherside.
How much is the cheapest bored ape NFT?
While diamond hands is a trading ethos commonly identified in long-term market participants, paper hands is an ethos more apparent amongst swing traders and day traders. Schedule a free demo with our team to learn more and start fundraising with non-cash assets like cryptocurrency, stock and DAFs. CoinSwitch provides you the platform to buy and sell more than 80 coins such as BTC, ETH, MATIC, ADA, and LITE. Under the QR code, you will see a string of numbers and letters – this is your wallet address. To receive APE coins, copy and paste the address to whoever wants to send you crypto.
ApeCoin: The Yuga Labs ERC-20 Token Explained
Just share your APE wallet address with the person sending the token. To do this, go to the Zengo home screen, select APE, and swipe to the right. The string of numbers and letters that appears is your unique address.
What Is Market Depth In Crypto? A Complete Guide
- Unlike other wallets, there are no minimums, no maximums, and no expensive transaction fees.
- Refresh your stock giving process with a modern digital workflow.
- To date, the most expensive BAYC NFT sold for a staggering $3.4 million.
- FOMO-prone traders typically don’t approach trading with a long-term mindset.
Every holder of ApeCoin is eligible to become a member of the ApeCoin DAO. $APE serves as a governance token, being a member of the DAO allows you to vote on every major decision, shaping the future of the token. The weight of your votes will be based on the share of tokens you own, so the more tokens — the more voting power one has. Every owner of a Bored Ape Yacht Club or Mutant Ape Yacht Club NFT was eligible to claim their share of $APE. The companion for these two NFT collections — the Bored Ape Kennel Club (BAKC) NFTs —served as a multiplier for the number of tokens that could be received.
What Are the Features of ApeCoin (APE)?
While the project may yield high returns, it is a high-risk high-reward move that can result in significant losses should the project fail. For instance, investors can lose funds in DeFi scams, such as rug pulls and pump-and-dump schemes, by investing in projects without doing extensive research. Since the cryptocurrency phenomena is gaining momentum and its fanbase is growing rapidly, it’s no wonder that more & more retailers are integrating crypto as a payment method.
How to Buy ApeCoin (APE) Instantly in a Few Simple Steps
Another person might only want to own it, yet another might consider it memorabilia of a specific moment they treasure. For example, personal information stored on an immutable blockchain cannot be accessed, stolen, or used by anyone who doesn’t have the keys. As tokens are minted, they are assigned a unique identifier directly linked to one blockchain address. Each token has an owner, and the ownership information (i.e., the address in which the minted token resides) is publicly available. Even if 5,000 NFTs of the same exact item are minted (similar to general admission tickets to a movie), each token has a unique identifier and can be distinguished from the others.
The next 16% (160 million tokens) was distributed to Yuga Labs itself (150 million tokens) and 10 million tokens (or equal value) went to the Jane Goodall Legacy Foundation. The entirety of the next 14% (140 million tokens) were paid out to various launch contributors for helping bring the project to life. The final 8% tranche of ApeCoin (80 million tokens) was distributed to the quartet of founders behind Yuga Labs and BAYC.
The connection between Apeing and FOMO
Of course, what goes up in the world of inflated valuations, must come down and BAYC has landed with a crashing thud. By May of 2024, the value of the project was down 90%, with the Bored Ape Yacht Club’s floor price (the price for the cheapest in the collection) hovering around 14.33 ETH or roughly $US42,000. Buy, sell, and exchange $APE along with 160+ other cryptocurrency coins and tokens at Easy Crypto. The term flippening was conceived in 2017 to describe a potential flip in the largest cryptocurrency. ApeCoin is the utility token of The Bored Ape Yacht Club, an NFT chain that has more than 1000 NFTs in its collection.
Cryptocurrencies, like ApeCoin, are decentralized digital assets that typically act as a proxy for the success of a particular crypto project. Investors purchase them to speculate on a future increase in value. However, cryptocurrencies are a high-risk asset class, so any investment in this market should be preceded with in-depth research into the cryptocurrency you plan to purchase. All examples listed in this article are for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by Crypto.com to invest, buy, or sell any coins, tokens, or other crypto assets.
Now, the actual payment method is up to you, however, buying cryptocurrency with fiat money is usually the preferred way of going about it, since it makes the crypto acquisition process fast, simple, and straightforward. Another thing you can do after you buy ApeCoin is send it to your peers or basically to anyone who has a ApeCoin address. You can do it via many top-rated cryptocurrency exchanges like KuCoin, Binance & Coinmama.
At Zengo, we love automation and technology but not for our helpdesk. Find live support agents directly in the app, whenever you need them. APE is an ERC-20 token built on the Ethereum blockchain, making all of its transactions viewable from Etherscan here.
From a governance perspective, holders of APE can become members of the ApeCoin DAO which vote on decisions impacting the ecosystem’s functioning and growth. This might include anything from which partnerships the ecosystem should pursue to how funds are allocated. These decisions are then implemented by the ApeCoin Foundation, the 5-member Board acting as the DAO’s legal representative. ApeCoin is an ERC-20 utility and governance token used within the APE ecosystem. The founding roots of ApeCoin lie in the NFT series Bored Ape Yacht Club (BAYC), a creation by Web3 company Yuga Labs. When the company announced the minting of 55,000 parcels of digital real estate NFTs called “Otherdeeds,” they were priced in APE.