ApeCoin (APE) is an ERC-20 token used within the APE ecosystem launched In mid-March of 2022. ApeCoin is the ecosystem’s governance token, allowing ApeCoin holders to participate in ApeCoin DAO.
ApeCoin will also be used to access games, merchandise, events, and services on the Ethereum blockchain and the APE platform itself, opening new opportunities for investors and developers.
Here are some facts about the APE ecosystem and what you can expect from it in the future.
Introducing APE
From a wide range of Ethereum games to merchandise and live events, ApeCoin offers a ton. So what is it? To explain ApeCoin, we have to start with its parent company-APES. And by parent company, we don’t mean a multi-billion dollar gaming giant-just some guys with some ideas.
But suppose you’re into digital collectibles (like CryptoKitties) or trading card games (such as Spells of Genesis). In that case, that’s probably enough information to make you think APES might be worth checking out.
To learn more about what they’re all about, check out their website or take a look at our introductory post.
The History of Crypto Collectibles
Just over a year ago, CryptoKitties, a game for collecting and breeding digital cats on Ethereum’s Blockchain, went viral. The popularity of CryptoKitties pushed transaction volume on Ethereum by a factor of 25,000 in just one month; according to the State of Dapps, it costs $.2 per transaction just to interact with all those kitties.
As Blockchain continues to grow, we will likely see more games like CryptoKitties emerging (with many fewer transactions). Is Crypto Kitties another flash in the pan, or is it here to stay? Are Crypto Kitties part of a new trend? And what does it mean for Blockchain technology overall? Let’s take a look at where crypto-collectibles came from and where they’re going.
In 20.3, crypto-collectibles were coined as a name for non-fungible tokens that users could collect and exchange using cryptocurrencies as payment. It wasn’t until Crypto Kitties emerged on November 28th, 2017, that crypto-collectibles gained mainstream attention, which garnered much criticism from people outside of the gaming community.
To them, blockchain tech was hard enough to understand without adding anything related to video games into the mix! In actuality, crypto-collectibles are nothing new-they just used Bitcoin rather than ether.
What Are ApeCoins?
ApeCoins (APE) is Ethereum’s ERC-20 token which is used within ApeCoin’s ecosystem. Buy Ape Coins, and holding it gives you power within ApeCoin’s DAO. You can vote on proposals that help decide which games are made, merchandise is created, events take place, and services are offered.
This gives users a say in what takes place in ApeCoin’s ecosystem. In addition to voting for proposals, you can also use your ApeCoins to get exclusive access to certain games before they’re released into their respective marketplaces and purchase exclusive merchandise only available with ApeCoins.
How To Get Free ApeCoins?
There are many ways to get free ApeCoins, including completing ApeCoin surveys, verifying your email address, and clicking certain ads. There is no reason to purchase coins when they can be obtained for free. One method of getting free ApeCoins is participating in airdrops on Twitter.
Even if you don’t think you can get free coins every day, it’s worth following these steps once per week for a few hours. Besides that, keep an eye out for ApeCoin giveaways on Telegram or Reddit; both communities frequently hold contests where users can win big amounts of ApeCoins.
How To Spend Your ApeCoins?
One of ApeCoins key uses as a method of exchange for services and goods. You will be able to use your ApeCoins to purchase any product or service available within or connected to any of our ecosystem partners. When you want to buy an item from one of our partners, you can do so by sending them your ApeCoins using your Ethereum wallet.
If they don’t accept APE yet, they’ll have no trouble cashing out through a standard cryptocurrency exchange like Coinbase. Most of our initial partner companies are small businesses with limited budgets, so we anticipate that most transactions will occur between individuals and not involve exchanges.
We also plan to create a decentralized marketplace in which users can sell their products directly to other users without having to deal with currency conversions or fees. More details on that later!
