What Is APENFT (NFT)? A Project Overview
APENFT (ticker NFT) is the native token of the APENFT platform. It’s used for ecosystem management and ranks 190th in cryptocurrency market capitalization.
The project mission
APENFT, a Singapore-based startup, is designed for tokenizing physical art pieces, fostering NFTs and marketplaces, as well as cultivating robust relationships between world-class creators and Web3. The platform was founded in 2021 by Steve Z. Liu, a business entrepreneur backed by institutional capital. Prior to APENFT, Liu had over two decades of experience at Fidelity International and other prestigious international institutions.
APENFT: An artwork tokenization platform Source: https://twitter.com/apenftorg
The main investment focus for APENFT is artworks. The company aims to endorse both physical and digital realms of the art sphere. Its mission is to tokenize global masterpieces and showcase them online. APENFT's primary priorities include art accessibility, supporting artists, and eliminating the barriers between their creative process and Web3 possibilities.
The platform works alongside Christie's, Sotheby's, and one of the largest unique digital art marketplaces, Nifty Gateway. Among the inaugural collections featured on APENFT are “Femme nue cupée au collier” by Pablo Picasso, “ABUNDANCE” and “OCEAN FRONT” by Beeple, three self-portraits by Andy Warhol, and “The Cube” by Pak.
BEEPLE, ABUNDANCE, GIGACHAD, REBIRTH, BIOLOGICAL COLLECTIBLE, JANUARY 1ST, 2021
Technical aspects
APENFT operates on Ethereum and TRON, leveraging the decentralized BTFS protocol's capabilities. Buyers gain complete ownership rights.
APENFT (NFT) token: Essential insights
Purpose
It is the only native APENFT platform token of the ERC20/TRC20 standard, which is intended for management. The NFT was issued based on the TRON blockchain on May 20, 2021.
Owners of APENFT (NFT) participate in votes determining the future of digital items. Moreover, they are involved in platform operations at various levels, based on their token holdings.
NFT can be acquired as bonuses when participating in DeFi airdrops and mining Bitcoin, Ethereum, Dogecoin, JUST, Tron, WINkLink, BitTorrent, and SUN on Justswap.org and other platforms.
Issuance and allocation
The overall supply of APENFT (NFT) is planned to be 999,990,000,000,000. As per the project's white paper, the token distribution is as follows:
- 30% for artists collaborating with the platform,
- 20% for purchasing NFT works,
- 19% for airdrops and mining,
- 19% for the project team,
- 10% for partnerships,
- 2% for initial exchange listings.
Current market landscape
According to data from gagarin.news, at the time of writing this article, APENFT (NFT) ranks 190th in the virtual currency rankings. The token is trading at $0.0000003662. Its market capitalization stands at $101,469,424, with a circulating supply of 277,080,562,500,000 NFT, and a daily trading volume of $2,762,510.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
