Launched in mid-March of 2022, ApeCoin (APE) allows players, fans, and collectors to interact with the Ape Universe and its ecosystem on a whole new level.
ApeCoin can be used to buy exclusive merchandise and event tickets, play games, and participate in ApeCoin DAO (decentralized autonomous organization).
In this article, we’ll look at all of these features in detail, so you can decide whether it’s worth buying some ApeCoins.
What Is ApeCoin?
ApeCoin is an ERC-20 token and governance token used in its games, merchandise, events, and services ecosystem. One APE will grant a user access to all products offered through ApeNet.
In addition, users can earn APE by referring friends or completing achievements; eventually, purchasing these tokens directly with fiat currency will also be available.
When used in conjunction with other crypto assets-APE boasts cross-chain functionality that enables transactions between multiple blockchains-the system can process microtransactions more quickly than traditional payment processors like Visa and Mastercard.
That’s because ApeCoin uses smart contracts to handle payments, removing humans from the equation entirely. By automating transactions and ensuring no intermediaries are involved, costs are reduced for everyone involved. Users save money on transaction fees, while merchants receive payments instantly without paying any service fees at all.
For people living in countries where cryptocurrencies aren’t accepted yet, having a decentralized method of transferring value offers tremendous advantages over traditional systems they may be accustomed to using.
As long as you have internet access-or even if you don’t-you can instantly send money anywhere in the world without dealing with banks or foreign exchange rates.
Where Can I Get And Use The Token?
Anyone can buy APE coins on exchanges or through a peer-to-peer sale. The APE coin can be used for multiple purposes, from paying for items and services within several of our projects to participating in internal governance. In addition, users can purchase an array of products using their APE coins.
Such as merchandise, tickets to events like music concerts or esports tournaments, and more. For example, here is a shortlist of items you could use your APE coins on a t-shirt with your favorite esports team logo, an event ticket, and entrance into a new eSport game. And that’s just a small sample.
Our community is constantly growing and expanding, with new ideas being brought forward by them every day.
We look forward to adding even more services and possibilities to buy APE Coins in the future. With all these opportunities, there’s no reason not to get involved with ApeCoin. As of right now, it’s important to note that there are many places where you can buy APE coins.
How Will The Tokens be Issued And Distributed?
There will be a fixed supply of 1 billion APE tokens. To create a distributed and decentralized economy, APE token holders can participate in token sales when it is launched to fund the development of the ApeCoin ecosystem, software and services, as well as games and collectibles.
The sale will be structured by DAO using Ethereum smart contracts. Sale tokens may be locked up for 3 months with an option to vote on network proposals after 6 months since they are unlocked. The token sale ends once all tokens are sold or three months have passed since its launch.
Tokens not sold during the initial sale could have an additional crowdsale offering a percentage more to boost total ecosystem development fundraised by APE at a higher price than the initial offering price.
What Are The Benefits Of Holding This Token?
Although we’ve all heard how valuable holding tokens can be, it’s important to think about why they are valuable. There are several reasons that people may want to hold a token: staking, using in-platform services and purchasing goods and services with that token.
With ApeCoin, you have all three of these benefits.
- First, ApeCoin is used for PoS transactions just like any other ERC-20 token on Ethereum.
- Second, users can purchase merchandise with their APE tokens, for example, at an exclusive live show or online through their web store.
- Third, if you hold enough APE tokens, you can participate in governance by voting on proposals submitted by community members. This allows everyone who holds APE to have a say in what happens within their ecosystem.
Community Support & Growth Potential For This Project.
In a crowded and overly saturated market like cryptocurrency, it is not easy for any project to make an impact. But APE has already gained some ground through their partnership with Kongregate and their upcoming wallet app launch.
These should give APE decent visibility into new communities of crypto users that are just now getting involved in blockchains. Also, It’s hard to imagine that anyone buying crypto in 2022 will have heard of any other projects besides Ethereum-and they’ll be looking for similar-functioning utility tokens like APE.
If a big name takes notice or non-blockchain users get excited about digital collectables, APE could see major adoption very quickly.