ApeCoin (APE) Price

What are NFTs?

Non-fungible tokens (NFTs) have been a major driving force behind the adoption of cryptocurrency for several years. Unlike fungible assets, such as fiat currencies (US dollars, Euros) or digital assets (Bitcoin, Ethereum) which are easily interchangeable, NFTs are unique representations of assets on the blockchain. This means that tokenizing assets as NFTs provides a transparent and traceable ownership history and helps prevent counterfeiting, making them particularly valuable for electronic collectibles, art, and even industries like real estate, healthcare, and supply chain management.

The Role of NFTs in the APE Ecosystem

The Bored Ape Yacht Club (BAYC) is a well-known collection of NFTs that started in April 2021. It has become popular among celebrities and influencers who aspire to be part of the club. BAYC comprises 10,000 distinct "Bored Ape" NFTs, stored on the Ethereum blockchain as ERC-721 NFTs. Owning a BAYC NFT allows members to enjoy exclusive advantages and privileges.

The distribution model for BAYC NFTs was fair and equitable, with each NFT costing 0.08 ETH during the initial sale. The team behind BAYC set aside 30 NFTs for community giveaways and competitions. Investors interested in buying or selling BAYC NFTs can find a prominent secondary market for them on the OpenSea NFT marketplace.

Bored Ape Yacht Club (BAYC) NFTs

The Bored Ape Yacht Club (BAYC) NFTs have gained popularity due to their unique features and potential for digital representation. Each Bored Ape NFT is distinct, showcasing varying facial expressions, clothing, accessories, and more, allowing for endless creative possibilities and personalization.

The true extent of the BAYC NFTs' capabilities is still being explored, but the team behind them believes that these tokens have the potential to unlock new opportunities in the digital realm for their owners. This belief is further supported by the record-breaking sale of Bored Ape #2087, which fetched an astounding price of 769 ETH, equivalent to approximately $2.3 million at the time of the purchase. This significant transaction highlights the immense value and demand surrounding Bored Ape Yacht Club NFTs in the market.

ApeCoin Cryptocurrency

ApeCoin is the ERC-20 governance and utility token used within the APE Ecosystem, allowing token holders to participate in the ApeCoin DAO, gain access to exclusive ecosystem services, games, events, and items. As a multi-faceted asset within the APE ecosystem, ApeCoin fulfills various essential functions:

• Empowering Governance. As the governance token, it enables ApeCoin holders to actively participate in the ApeCoin DAO.

• Unified Currency. Apart from being the ecosystem's governance token, ApeCoin also acts as the utility token, providing participants with a shared and open currency that bypasses the need for centralized intermediaries.

• Exclusive Access. ApeCoin grants entry to exceptional ecosystem features, including exclusive games, merchandise, events, and services not accessible otherwise.

• Developer Incentives. ApeCoin facilitates collaboration with third-party developers, allowing them to integrate APE within their services, games, and other projects, thereby fostering ecosystem growth.

Benefits of ApeCoin NFTs and APE Assets

Holding APE tokens also grants exclusive perks, such as access to games and special events. Additionally, APE serves as the primary unit of account and medium of exchange for all products and services within the APE ecosystem. This ecosystem includes Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC) NFT series and the intellectual property rights owner of the CryptoPunks NFT brand. Yuga Labs is also a community member in the ApeCoin DAO and adopts APE as the primary token across new projects.

APE Tokens Allocation

If you are wondering how many ApeCoin are there, the crypto has a fixed supply of one billion tokens, with no additional minting or token burning.

• 62% of APE tokens are allocated to the ecosystem fund, including an airdrop of 150 million tokens to BAYC and MAYC NFT holders.

• The company behind BAYC and ApeCoin, Yuga Labs, receives 16% of the total supply, with a 36-month distribution and a donation of ten million tokens to the Jane Goodall Legacy Foundation charity.

• Project contributors are allocated 14% of the token supply, vested for various durations, with 140 million tokens dedicated to reimbursing ApeCoin project contributors.

• Founding members receive an 8% allocation of 80 million tokens, with an initial lock-up period of twelve months.

Founders of ApeCoin

The Bored Ape Yacht Club was created by Yuga Labs, a Miami-based company. Yuga Labs is also actively involved in developing the Otherside Metaverse, a virtual land. In line with this, ApeCoin aims to be the premier Metaverse token, serving as the primary digital currency across multiple integrated games and interconnected metaverses.

ApeCoin DAO

The ApeCoin DAO (decentralized autonomous organization) serves as the governing body for the APE ecosystem, allowing ApeCoin holders to participate in protocol governance. The body is responsible for allocating funds, selecting partnerships, and establishing governance rules. ApeCoin DAO members vote on proposals to implement changes in the ecosystem, such as staking features and fund allocation. With approximately 3,100 members, the ApeCoin DAO plays a crucial role in shaping the future of the ecosystem.

ApeCoin Foundation

The ApeCoin Foundation acts as the legal steward of the ApeCoin DAO and oversees the growth of the ecosystem. "The board" within the APE foundation consists of five influential tech moguls, including:

• Reddit co-founder Alexis Ohanian;

• Amy Wu, who leads the crypto exchange FTX’s venture arm;

• Maaria Bajwa, of Sound Ventures;

• Animoca Brands’ Yat Siu;

• and Dean Steinbeck of Horizen Labs.

The board ensures that DAO proposals are implemented in a fair and inclusive way, and its members are elected annually through a voting process. The Board is also responsible for the day-to-day administration, bookkeeping, project management, and other tasks that ensure the community's ideas have the support they need to become a reality.

ApeCoin Ecosystem

The ApeCoin Ecosystem, stemming from the success of the Bored Ape Yacht Club (BAYC), consists of the ApeCoin holder community, developers, and apps utilizing the token. Yuga Labs, the creators of BAYC, holds around 16% of the ApeCoin supply and is a prominent member involved in product development. Other members include BAYC and Mutant Ape Yacht Club (MAYC) NFT holders, contributors involved in ecosystem creation, and individual BAYC founders.

Another notable project within the ecosystem is Otherside metaverse, jointly developed by Yuga Labs, Improbable, and Animoca Brands. Similar to Decentraland, Otherside serves as a platform for developers to create games and experiences within a virtual environment. Furthermore, Otherside offers unique attributes for each plot of virtual land.

ApeCoin Price

ApeCoin APE is currently traded on many cryptocurrency exchanges (decentralized and centralized ones), including Changelly.

Changelly, one of the major cryptocurrency exchanges, is a reliable platform where users can easily and instantly buy ApeCoin (APE) using fiat currencies and traditional payment methods, like a credit card, debit card, wire transfer, and more.

Apart from centralized exchanges, ApeCoin trading is also available on Ethereum-based decentralized exchanges that enable APE trading using other digital currencies like Shiba Inu or Binance Coin, not fiat money like USD or EUR.

APE has a current circulating supply of nearly 370M APE and a max supply of 1B APE coins.

The APE Coin started trading at $7.26 when it was released on March 17, 2022. The next day, the digital asset reached and exceeded the mark of $16. The highest price paid for APE is $26.19 that occurred in April 2022, signifying the asset’s all-time high.

Since then, the ApeCoin price has dropped significantly, and now, users can buy ApeCoin (APE) at an average price of nearly $1 per APE token.

The current price of the APE crypto can be influenced by several factors.

Its capped supply ensures scarcity, driving up demand and potentially increasing its value.

Market sentiment plays a crucial role, as positive or negative perceptions can create considerable price fluctuations.

Lastly, the high volatility inherent in the cryptocurrency market means that the ApeCoins price can experience rapid and significant changes, offering both good investment opportunities and financial risks to investors.

ApeCoin Price Chart

If you are curious about what the ApeCoin price today is, Changelly, a well-established cryptocurrency exchange, offers an interactive APE price chart with a live ApeCoin price with real-time price change updates. With our price chart, you can easily view the ApeCoin price history, which can assist you in working out your own ApeCoin price prediction.

The current price of ApeCoin today in USD, market cap (market capitalization), 24-hour trading volume, and price change within recent times are also shown by our interactive APE price chart. Apart from these details, our real-time ApeCoin price chart lets you easily see the lowest and highest price points of the crypto asset. By leveraging our ApeCoin price indicators, investors can make informed decisions regarding their ApeCoin investments based on accurate and reliable data.

You can also read our ApeCoin APE price prediction for the future years to get an understanding of potential price movements and make informed investment decisions. However, price predictions are speculative and subject to market volatility, so it's crucial to conduct thorough ApeCoin price analysis and consider multiple factors before making any investment choices.