The Bored Ape NFT Justin Bieber bought for $1 2 million is now worth $69,000

The author can add additional fields to the template if necessary to fully communicate the intentions, specifics, and implications of the AIP Draft. The moderator may also inform the author of incorrect or missing information that needs to be changed or clarifications that need to be made. If the author does not respond to those moderator requests within 30 days, the AIP Draft will be automatically rejected.

Drafts that have passed their respective approval processes will become Live AIPs on Snapshot during the next Weekly AIP Release, which is when new AIPs are released in batches Thursdays at 9PM ET. Once live on Snapshot, Live AIPs are open to voting until Weekly Voting Close, which is at 9PM ET on the Wednesday following their release. Moderators are the only ones that can post AIPs to Snapshot because they must confirm that each one has gone through the correct https://xcritical.com/ approvals process. The AIP Draft + Analysis Report Package is reviewed by a team of moderators and either approved or not approved based on whether it adheres to the DAO-approved guidelines. If not approved, it is eligible for resubmission, except in cases of violation of the law or reasonable suspicion of fraud or other misleading information. The author will fill out the template, incorporating any Discourse feedback that helps the idea better serve the DAO.

The coin was created by the ApecoinDAO community and is a cryptocurrency created to function in the community’s metaverse that is currently still in the works. The Apecoin DAO facilitates decentralization on the network and is responsible for daily administration and community developments. Apecoin is one of the most decentralized systems for users, as most of the management is handled by decentralized autonomous organizations. A special council on the APE Foundation (the DAO’s “Board”) provides, at the behest of the ApeCoin DAO members, oversight of the Foundation administrators. The purpose of the Board is to administer DAO proposals and serve the vision of the community. It meets on proposals requiring administrative review under ApeCoin DAO rules.

Process Proposal – a proposal about making a change to a process or proposing an implementation. Core Proposal – a proposal that would be considered the main activities of the DAO, with subcategories that can be expanded on over time via proposal submission. AIP – a document proposing a new feature, project, activity, goal, piece of information, or change to any proposal that has already been implemented. ApeCoin DAO’s consensus mechanism aims to make placing votes fair, transparent, and low-cost, so that ApeCoin holders can participate in the decision-making of the DAO. If a Live AIP has not gotten any votes or is tied by the Vote Close Time, it will be tagged as “Stalled” and be eligible for Resubmission.

What are the features of ApeCoin

In the initial days of its release, Apecoin was airdropped by YugaLabs to BAYC NFT holders with the option of claiming it for free. Owners of ApeCoin who are network participants can even subsume ‘Bored Apes’ into their projects under evolution. Apart from this these avatars can also be used on other applications. Make sure you read everything with 100% attention so that you don’t end up incurring losses. Of course, with BitPay’s recent support for the token, you can also buy ApeCoin , store, swap and spend in the BitPay app. All BitPay merchants have the option to accept ApeCoin as payment, opening up thousands of new ways to use and spend the token.

The Board

One of the main objectives is to turn it into a token that can be used by numerous NFT projects and community members across several multiverse worlds, creating a broader in-game economy and ecosystem. Some third-party projects are already strategizing the use of ApeCoin. For example, Benji Bananas, a popular mobile video game created by Animoca Brands decided to integrate play-to-earn modularity in which players can earn in-game tokens that can be exchanged for ApeCoin. Dogeliens is a meme coin and a new metaverse project building on the binance smart chain. The Dogeliens ecosystem aims to create a meme coin that will continue the story that Dogecoin and Shiba Inu started. However, the project creators intend to give the meme coin some edge over existing projects.

Dogeliens will have more cutting-edge features and functionality for users, including a metaverse, P2E gaming, blockchain education hub, and DeFi functionality. The DOGET token will be used in the metaverse to provide both users and non-users with educational content. There is so much more that the Dogeliens system intends to offer its users, and only those who buy the token will get to explore all of these features and more. Although the crypto market is currently in a downturn, announcements of web2 brands and centralized systems collaborating is one positivity enthusiasts embrace. And one that mostly has a positive influence on the crypto’s performance.

ApeCoin is a very recent cryptocurrency with a lot of its features and functionality still to come. Despite that, the token is already doing well and has significant backing through its parent companies and platforms — both financial and socially, with many backers in the form of household celebrity names. ApeCoin is set to be used across the DeFi space, as a utility token in the decentralized community, as in-game crypto for Yuga Labs’ games as well as those from other developers, and more. Thanks to its adaptability, ApeCoin could become a crypto used across many blockchains and platforms, potentially bringing more unity to the space and more value to itself and its ecosystem. This may be a very new cryptocurrency, but it’s undeniably one to watch.

An upcoming project from Animoca Brands, one of ApeCoin’s initial investors, as noted by Fortune.com, looks likely to use APE – helping increase demand for the token. According to the ApeCoin website and accompanying press materials, ApeCoin is being launched by ApeCoin DAO, a new governing body in which all APE holders are members. It’s meant to field proposals from the community, which token holders can then vote on. There’s also a separate organization called the Ape Foundation, which will handle day-to-day DAO administration. Shiba Inu is the second top meme coin in the cryptocurrency market.

Market Overview

Holders of DOGET will have the opportunity to monetize their knowledge and skills, or they can purchase a course and learn how to earn. A segment of The Spaceship will be specifically dedicated to a collection of 10,000 NFTs. When a Dogeliens holder has ownership over an NFT, they will be given exclusive benefits, discounts, and incentives. This is all done to improve the Dogeliens ecosystem in a way that is sustainable for the long term. At the start of March 2022, APE had a lot of potential, even reaching the height of nearly $7 billion in its market capitalization. As one of the early investors, Yuga Labs receives a portion of the token distribution.

What are the features of ApeCoin

It is a meme coin that offers DeFi utilities and a range of other utilities for users. Unlike DOGE, which exists with zero utility, Shina Inu provides multiple utilities for users, including a decentralized exchange system called ShibaSwap. Shiba Inu is a meem coin that aspires to be the Dogecoin alternative while offering more to users than Doge does. The coin was launched to power the Bored Ape Yacht Club, the largest NFT community worldwide. It is primarily a governance token, although it serves other uses on the network. Some software products help create NFTs from any form of digital content.

What is the connection between YugaLabs and BAYC?

Wallets holding tokens alloted to the DAO treasury and resources can be viewed here. If a suggested proposal directly conflicts with a proposal that is currently up for vote, the second proposal should not go for a vote until a decision is made on the first proposal to avoid approval of opposing requirements. The total cost of implementation must be clear in order for a proposal to go to vote. Weekly Voting Close – when all AIPs in a Weekly AIP Release batch close for voting, which happens the following Wednesday at 9PM ET. Informational Proposal – a proposal that provides general guidelines or information to the community but does not propose a new feature.

  • If investors believe that the BAYC ecosystem and Yuga Labs can thrive and outperform competitors in the future, ApeCoin could be a profitable way to capture the ecosystem’s increasing value.
  • We saw a huge spike in the ApeCoin price ever since it started trading on crypto exchanges.
  • Thanks to its adaptability, ApeCoin could become a crypto used across many blockchains and platforms, potentially bringing more unity to the space and more value to itself and its ecosystem.
  • ApeCoin has a fixed total supply of 1 billion APE tokens, which cannot be minted or burned.
  • YugaLabs announced that the token will also be used as the governance token for the ApeCoin DAO. Holders will be able to vote on relevant topics ranging from the allocation of funds to what future endeavors the DAO should embrace.
  • Shiba Inu is the second top meme coin in the cryptocurrency market.

If investors believe that the BAYC ecosystem and Yuga Labs can thrive and outperform competitors in the future, ApeCoin could be a profitable way to capture the ecosystem’s increasing value. José is a copywriter and journalist with over 4 years of experience in the crypto field. He started his career in 2017 amid the Bitcoin and the cryptocurrency boom, and he hasn’t turned his back on the industry since then. ApeCoin’s success will depend on several factors here, such as how well the DAO and the APE Foundation develop the ecosystem and how Yuga Labs manages to attract a bigger audience and projects into the Otherside metaverse. ApeCoin debuted on March 17, 2022, highly anticipated by the Bored Ape and the NFT community in general.

Gigantic Token Burn Has Uniglo.io Investors Rejoicing – First Price estimates…

Where to get the latest news and find opportunities on #Avalanche ecosystem. All information on the article is for reference only, this is not investment advice. Hopefully, the information that Avaxholic has gathered in the article will be useful to you. In summary, ApeCoin is a high-risk investment that has potential to provide astronomical returns. In the short term, there is likely to be extremely high volatility due to speculation that Yuga Lab’s “Otherside” virtual land sale will be priced in APE.

What are the features of ApeCoin

All tokens are locked for a period of 12 months so shareholders aren’t able to cash out immediately, potentially crashing the price. Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology. The meme coin meta is constantly evolving; daily, we see more news of notable advancements in the landscape. On the 13th of November, 2022, a 5-star restaurant in Dubai announced that they now accept Shiba Inu as a form of payment from their guests.

One of the main factors helping push ApeCoin higher is that the coin has already been listed on numerous major exchanges. This is quite a feat, as many centralized exchanges have high barriers to entry which are difficult for new projects to meet. At present, ApeCoin and other cryptocurrencies can be purchased on Binance, Huobi, Coinbase, KuCoin, and more. Bored Ape Yacht Club has long been considered one of the best NFTs to buy – and this was reinforced by the fact that all NFT holders received free APE tokens. In essence, this was akin to receiving free money, as NFT holders could immediately cash in their tokens for FIAT if they wished. However, given APE’s price prospects, it’s likely that holders will have retained their tokens for the time being.

ApeCoin Claiming for BAYC and MAYC Holders

Consequently, the network is constantly consuming NFTs as they are the main items used in games and on the Metaverse. ApeCoin has some actual utility within the APE ecosystem, so it’s more than just a speculative “meme coin”. However, its price is prone to dramatic fluctuations like many other cryptocurrencies, so as always it’s important to do your homework before investing. YugaLabs announced that the token will also be used as the governance token for the ApeCoin DAO. Holders will be able to vote on relevant topics ranging from the allocation of funds to what future endeavors the DAO should embrace. ApeCoin will be the default currency for all things related to the Bored Ape community. In late April 2022, YugaLabs launched an auction for “land” in the Otherside.

Governance Token

The possibilities for blockchain’s impact on culture are so endless that they can’t possibly all be predicted yet. APE is a token made to support what’s next, controlled and built on by the community. It will serve as a decentralized protocol layer for community-led initiatives that drive culture forward into the metaverse. ApeCoin DAO is launching its community-led governance via a formal proposal process based on the one implemented and proven out over time by Ethereum’s EIP system. The ApeCoin community governs itself via the ApeCoin DAO, the decentralized governance framework that supports the Ecosystem Fund. The DAO follows a proposal process to vote on how the Ecosystem Fund will be distributed by the APE Foundation to promote a diverse and self-sustaining ecosystem.

A suggested proposal that directly conflicts with another approved proposal cannot go to vote for three months after the original proposal has been implemented to avoid wasting community assets. Live AIP – an AIP that has passed all required approval stages and is launched for the community to vote on it. The voting options for a Live AIP are “In favor” and “Against.” Voting “In favor” means the voter What is an APE token is in favor of implementing the AIP exactly as-is. Voting “Against” means the voter is against implementing the AIP exactly as-is — voters may vote “Against” to encourage the author to resubmit the AIP after making changes. An AIP Idea is submitted as a post in Discourse and must receive moderator confirmation that it complies with DAO-approved guidelines before it appears to the community.

ApeCoin is for the web3 economy.

The ApeCoin tokenomics are thus far not entirely disclosed, but from the currently available information, there will be a total supply of 1 billion ApeCoin tokens. The airdrop distribution will depend on whether NFT owners hold a Bored Ape or a Mutant Ape and whether the NFT is paired with a Bored Ape Kennel Club NFT. Sign Up NowGet this delivered to your inbox, and more info about our products and services. Webull Financial LLC is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). An explanatory brochure is available upon request or at Our clearing firm, Apex Clearing Corp., has purchased an additional insurance policy..

Elsewhere, Square Enix announced Symbiogenesis last month, a browser-based game for PC and mobile—the start of a franchise—that uses NFT digital art. In today’s show, Crypto World takes a closer look at what led to the downfall of Sam Bankman-Fried’s crypto empire. Orbeon Protocol is an investment platform positioned as one of the first cryptocurrency spaces that brings together everyday crypto investors and startups that need capital. Powered by the native token SAND, The Sandbox is a play-to-earn platform where members can create games and digital assets using The Sandbox’s free creative tools and then sell them on The Sandbox marketplace. The education system in Dogeliens gives back to its community by giving them free access to presentations about crypto, smart contracts, meme coins, web.