AINFT Price

What Is APENFT (NFT)?

APENFT (NFT) is the governance token for APENFT, an NFT-centric project built on Ethereum, BNB Smart Chain (previously Binance Smart Chain) and TRON. It utilizes the BitTorrent File System (BTFS) for the decentralized storage of artwork, and leverages the BitTorrent Chain for interoperability.

APENFT’s mission is to register renowned artworks into blockchains through on-chain tokenization, and to secure these works as NFTs. Using the platform, an artist can convert their work into NFT ERC-721 or TRC-721 tokens and secure them using smart contracts. Some of the world-class artists represented on APENFT include Pablo Picasso and NFT legend Beeple.

A critical component of the project is the APENFT Marketplace, an NFT trading platform that onboards artists into the NFT world. The platform uses blockchain to help solve the perennial challenges of centralized valuation, counterfeits and illiquidity that stifle the art world.

APENFT Price

APENFT’s NFT token was launched toward the end of May 2021 at $0.00000342. Following a slight pump afterward, NFT’s price experienced turbulence the following month, dropping to $0.00000232 on June 13 before spiking back up to hit $0.00000404 on June 19, 2021.

APENFT tumbled further in July 2021 to hit a low of $0.00000160. The token’s price gradually recovered, and traded sideways for most of August. It was during this month that the TRON Foundation announced a $300 million strategic partnership with APENFT and WINkLink to develop GameFi projects.

The impact of the announcement was felt the following month when NFT spiked to hit its ATH of $0.00000753 on September 5, 2021. However, the price soon corrected sharply and continued to decline for the rest of that month.

In October, APENFT’s price began to rise, pumping hard as the TRON Foundation announced a $100 million fund to support artists through APENFT.

The price of APENFT remained bullish until mid-November, when it began a gradual drop that has continued for most of 2022. As of late October 2022, its price is just under $0.00000064.

What Is APENFT (NFT) Used For?

NFT is the ERC-20/TRC-20 token that powers the APENFT ecosystem. Its main use cases are:

• Governance: NFT holders have the right to determine the management and direction of APENFT’s collections, acquisitions and exhibitions.
• Governance rewards: Holders of BTC, ETH, TRX, BTT, JST, SUN and WIN who participate in APENFT governance are rewarded with NFT tokens.
• Airdrops and mining: NFT can be earned by participating in airdrops, mining and staking of BTC, ETH, TRX, BTT, JST, SUN and WIN on supported DeFi platforms and exchanges.

APENFT Tokenomics

APENFT has a total supply of just under 1 quadrillion NFT tokens. The allocation for these tokens is as follows:

• Artists — 30%
• DeFi airdrops and mining — 19%
• NFT team — 19%
• Initial exchange listing — 2%
• Purchase of NFT works — 20%
• Partnerships — 10%

In July 2021, the APENFT community voted to burn the proceeds from repurchasing Andy Warhol’s artwork. As a result, a total of 1,030,067,282,396.0035 NFT (amounting to $2.52 million) was burned.

Who Is the Founder of APENFT?

APENFT was registered in spring 2021 by the APENFT Foundation, which is headed by Steve Z. Liu, a seasoned finance and capital markets expert.

How to Store APENFT (NFT)

Since APENFT is available as both ERC-20 and TRC-20 tokens, you can store it on wallets compatible with Ethereum and TRON blockchains. These include MetaMask, TronLink and Atomic Wallet. For added security, you can store APENFT in Ledger cold wallets.