ApeCoin: The Real Web3 Decentralised Community Ecosystem
Famous Bored Ape has claimed its blue chip NFT status as key part of web3 portfolio. Can ApeCoin be the next blue chip token?
Keys Takeaways:
• What’s ApeCoin ($APE) and why it garners so much public attention?
• Since $APE doesn’t represent a fractional ownership in Bored Ape. What is the value of ApeCoin? A valuation & comparison
• What are the use cases of ApeCoin?
• How ApeCoin reign its supreme in the long run?
ApeCoin, the cryptocurrency behind BAYC has garnered much public attention after the announcement by Yuga Labs on March 17th. ApeCoin no doubt has become the hottest topic among folks by the famous NFT PFP collection Bored Ape Yacht Club aka #BAYC, with celebrity owner from Entertainment & Business: Steve Aoki, Snoop Dogg, Justin Bieber, Eminem, Timbaland, Jimmy Fallon, Paris Hilton, Gary Vaynerchuk, DJ Khaled, Synyster Gates, Logan Paul, Jay Chou, JJ Lin, E11EVEN (Miami night club), to Sports star like Steph Curry, LaMelo Ball, Neymar, Serena Williams, Memphis Depay, Shaquille O’Neal, Von Miller, to Billionaire Mark Cuban and Big Company CEOs like Raoul Paul, Richard Ryan (Black Rifle Coffee Company), Jenkins The Valet signed to CAA, Universal Music Group, so many more and the latest with Madonna, EVERY CELEBRITY and CEOs aped in that was so fast it has become one of super brand in the world to showcase one socioeconomic status!
“Bored Apes represent the culture of this generation, is the zeitgeist of what the current era of cultural what NFT means”, said Yat Siu, the Chairman of Animoca Brands. Based on the airdrop, a Bored Ape holder could get between $50k worth of $APE from a conservative estimate, to a very optimistic mind-blowing level of $250k 🤯 or even higher!
Perhaps normies would say why this is so expensive where I could just do a right click save?
To cut a long story short, I’m not going to tell you what NFT means, how they are culturally relevant, how they are the spearhead into the future of identity, culture and the metaverse or about the value of digital art. But instead, a more obvious straight forward answer to this it is right click save won’t get you the airdrop! The network effects, 100 percent monetization rights of the character, I.e., to create own and sell merch, early access to all specific NFT limited drops, experiences and narrative selection.
So, this is a good chance for you to ape into APE ecosystem!
Apecoin $APE is a governance and utility token for culture, gaming, and commerce used to empower decentralized communities building standing at the forefront of web3.
$APE Tokenomics
Apecoin ($APE) has a total max supply of 1 billion tokens with no inflation nor any burning mechanism. The token distribution as follows:
The token distribution to the Community Treasury consists more than 60% of the tokens. This shows that the project is quite community-centric and it fulfill the real ethos of web3 where most of the tokens are allocated to the users. Another important points to check if there is sizeable chunk of tokens allocated to both team Founders and Foundation. So far, the identities of the Launch Contributors (companies and people that helped make this project a reality) is still under clear, but we treat this as ecosystem incentives at the moment since it helps to build value-added to the community.
How much does Apecoin $APE really worth?
It is difficult to value $APE at its current stage as it is still new, but we can do a rough comparison with metaverse projects such as Decentraland ($MANA) has a fully diluted valuation (FDV) of $5.5 billion, and Sandbox ($SAND) is at $9.7 billion. In the conservative scenario where $APE reaches a $5 billion FDV, $APE will be $5.
At the time of writing, the fully diluted value (FDV) is around $13 billion.
a) FDV Valuation: Compare with Meme Coins ($DOGE, $SHIBA) and Metaverse Coins ($AXS, $SAND, $MANA). Will $APE worth more than meme coin $DOGE or $AXS?
b) Price Estimates:
*Note: With the news of everyday ApeCoin being adopted, the real utility in Yugaverse, high brand exposure, even a $25 billion FDV doesn’t sound insane at all. Don’t forget that $APE will be the ecosystem token for #Cryptopunks & #Meebits as well!
c) Sharpe ratio: the Sharpe Ratio (30D) for $APE is very high, therefore a better return rates is expected relative to the risk taken on.
d) Valuation based on TAM. Based on data from Coingecko, the current market cap for Metaverse Coins is 22.9 billion. The future metaverse market is estimated to exceed $1 trillion in annual revenue, reported by JPMorgan Chase global investment bank said.
Top ten BAYC NFT holder wallets:
1. Dingaling.eth
2. Jrny.eth
3. 0x98e711f31e49c2e50c1a290b6f2b1e493e43ea76
4. Canaryvault.eth
5. vault.j1mmy.eth
6. Machibigbrother.eth
7. 0xf8e0c93fd48b4c34a4194d3af436b13032e641f3
8. 0xa7ab7a265f274fa664187698932d3cabb851023d
9. goldape.eth
10. Bkr.eth
What are the use cases of $APE and their future?
ApeCoin ($APE) is a ERC-20 governance and utility token that currently serves for the followings purposes:
•A governance token that allows $APE holder to participate in ApeCoin DAO AIPs governance proposals.
• Unification of Spend: A utility tokens for $APE ecosystem and Incentivization.
•Token to access to Games, Events, and etc. (So far Play-to-earn games @BenjiBannanas and @nWayPlay planned in this year!)
Unlike other token like $BOBU where Azuki #40 is being fractionalized and the token represent a fractional ownership and the holders of Bobu Fractions in the community can participate in the governance, there is no value accrual mechanism for $APE at the moment. Since $APE is just a governance and utility token, and it is not tie to the NFT itself, therefore it is important to create utility for the token itself and it is important to see how $APE play an important role in the APE ecosystem.
Just within 2 weeks since the token launched, we have seen ApeCoin $APE being adopted as payment across Music NFT, PFP NFT and so on. It is evitable to see more and more $APE integration across all other NFTs (Generative NFT, Community NFT and more utility-based NFT). Imagine what if ApeCoin adopted by all the BAYC celebrities, Artist, VC CEOs etc…
a. For Payments i.e. TIME Magazine at time.com/hodl, CASETiFY’s phone cases at https://nftyc.com/ and many more..
b. Music NFTs: Snoop Dogg x Wiz Khalifa. Expected more celebrities will accept $APE coin as payment for their music NFTs.
c. Purchase NFTs with $APE on X Marketplace
d. Limited-time BAYC/MAYC merch purchase
For #BAYC, #MAYC, #BAKC holder, what are the ways to earn with $APE?
1) Swap it
2) Participate in DAO governance proposals
3) DeFi Yield Farming (Uniswap V3 earn 1% fees) — For example, #BAYC whale holder Franklin allocated some portion to provide liquidity in Uniswap V3 to earn a share of 1% all trading fees. Check out post below how to add liquidity in Univ3 if you’re interested.
Personally, I would prefer small a small portion to ETH to buy the next #BAYC. Keep most in $APE provide liquidity in Uniswap to earn 1% fees and remaining portion swap to make more $APE token!
For non-holder, you can check out and buy it on the list of exchanges at https://apecoin.com/exchanges, and participate in the voting of most exciting ever ApeCoin DAO governance proposals! :)
How ApeCoin can reign it supreme in the long run?
The Future Catalyst of Apecoin $APE
•The DAO’s Board (Animoca Brands, Reddit, FTX, Horizon Labs). With successful example of DAO’s Board members i.e., Animoca Brands as early investor in Sandbox and etc.
•Real utility in the Yugaverse “Otherside”, a Web3 MMORPG metaverse with NFTs in April 2022.
• A truly decentralized NFT marketplace powered by $APE!
• APE Fest
• Play-to-earn game planned in this year. Expect more P2E games onboards in the near term
• More partnerships with web2 and web3 big brands
“Web3 is the internet owned by the builders and users, orchestrated with tokens” — @packyM
Although there are numerous debates and different opinion among all especially BAYC holders in the proposed AIPs, but this the where the real ethos of web3 where users take the ownership and control are at the own hand.
I’m sure there are many BIG key events coming as I believe in the team because the team know EXACTLY what they are doing!
Jerrg
@babyape113