What is APENFT (NFT)?

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Bittime  - One of the most prominent aspects of the art world following the emergence of blockchain technology is NFTs (Non-Fungible Tokens) , which have revolutionized the way we understand and trade digital works of art.

In the midst of the NFT market, APENFT has become one of the leading platforms that combines art, blockchain technology, and awareness of the unique value in digital artwork.

What is APENFT (NFT)?

APENFT is an NFT platform built on the NULS blockchain and using leading blockchain technology infrastructure. However, what sets APENFT apart from other NFT platforms is its focus on art, culture and digital heritage. 

APENFT aims to digitize and trade works of art, collectibles and cultural heritage from around the world, making them affordable and accessible to anyone.

APENFT (NFT) Key Products & Features

APENFT offers a variety of key products and features that enable users to enjoy and engage in the NFT ecosystem in unique and innovative ways.

Below are some of APENFT's main products and features.

1. NFT platforms

APENFT provides a platform that allows artists and cultural heritage owners to create, verify and trade their digital artwork as NFTs. It includes various types of artwork, from digital paintings to animation, music, and more.

2. Special Collections

APENFT has a special collection consisting of digital artworks from famous artists and rare cultural heritage. This collection gives users the opportunity to own a piece of digital art and cultural history in the form of NFTs.

3. NFT marketplace

APENFT provides an active NFT marketplace, where users can explore, buy and sell digital works of art and cultural heritage. This marketplace creates opportunities for artists to earn income from their art and for users to collect unique NFTs.

4. Auction

APENFT regularly holds auctions of rare and valuable digital artworks and cultural heritage. These auctions provide a platform to discover and appreciate extraordinary works of art and to create a vibrant community around digital art.

5. Partnership and Collaboration

APENFT actively partners with famous artists, cultural institutions and other NFT platforms to bring interesting and varied content to users. This collaboration creates a dynamic and diverse ecosystem within the APENFT platform.

6. Ownership Certificate

Each NFT issued by APENFT is accompanied by an authentic certificate of ownership, which ensures the authenticity and uniqueness of the digital artwork or cultural heritage contained therein.

7. Blockchain Integration

APENFT uses blockchain technology to store and verify information about digital works of art and cultural heritage. This ensures transparency, security and authenticity in the NFT trading process.

Also Read: What is ApeCoin?

What Are NFT Tokens?

APENFT token (NFT) is an ERC-20/TRC-20 token used to power the APENFT platform. This token has several utilities, namely:

1. Governance

APENFT token holders can participate in voting on governance proposals related to the platform.

2. Staking

APENFT tokens can be staked to earn exclusive NFT rewards.

3. Payment

APENFT tokens can be used to purchase art and other items on the APENFT marketplace.

4. Participation

NFT holders can participate in exclusive programs, such as access to renowned artists and curators, as well as VIP experiences.

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Tokenomic Token APENFT (NFT)

APENFT (NFT) is an ERC-20/TRC-20 token that serves as the governance token of the APENFT ecosystem, a leading NFT platform that aims to bridge the world of traditional art and the NFT market. The following is an explanation of APENFT tokenomics.

Total Supply: 999,990,000,000,000 NFTs 

Token Distribution:

• 50% - Used to build the APENFT ecosystem, including art purchasing, partnerships, and platform development.
• 20% - Allocated to the founding team and advisors for a minimum vesting period of 2 years.
• 15% - Used for marketing and operations.
• 7% - Offered via Initial Exchange Offering (IEO).
• 3% - Allocated for airdrop and community reward programs.
• 5% - Kept as a reserve.

There are two APENFT (NFT) Tokenomic features, namely deflation and incentives. The following is the explanation.

1. Deflation

APENFT implements a token burning mechanism, where a small portion of transaction fees is burned permanently, thereby reducing the supply of circulating tokens and potentially increasing their value.

2. Incentives

The airdrop and community rewards program aims to encourage user engagement and expand APENFT's user base.

Also Read: Getting to Know Bored Apes: The Phenomenon of NFT Popularity

APENFT (NFT) Fundamental Analysis

In terms of strength, APENFT (NFT) has the support of the TRON and JustSwap communities, has an experienced team, has an easy-to-use platform, and focuses on traditional art.

However, APENFT (NFT) has weaknesses, namely lack of team transparency, intense competition in the NFT market, and token price volatility.

Comparison of APENFT (NFT) & Competitors 

The following is a comparison of APENFT (NFT) and its competitors, namely OpenSea and Rarible.

Expert Opinion About APENFT (NFT)

Expert opinions on APENFT (NFT) are mixed. Some experts believe that the platform has great potential to become a leader in the NFT market, while others question the team's lack of transparency and token price volatility.

This is because information regarding the founding team and the APENFT team is currently still limited and not fully transparent. Their website and official documentation do not mention any specific individuals as founders.

How to Buy Crypto on Bittime

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To be able to buy crypto assets on  Bittime ,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into  your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  Complete Guide How to Buy Crypto on Bittime .

Monitor price chart movements  for Bitcoin (BTC) ,  Ethereum (ETH ) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.