APE ecosystem breakdown
Direct from the desk of Dane Williams.
A look at the projects making up the APE ecosystem and a look to the future.
ApeCoin (APE) is the cryptocurrency launched by the same team behind the popular Bored Ape Yacht Club (BAYC) NFTs.
The launch of ApeCoin was part of the team’s broader strategy to create an entire APE ecosystem related to the original brand.
What ultimately sets ApeCoin apart from the competition is its unique link to BAYC.
BAYC is a brand that transcends crypto, out into the mainstream and capitalising on that is a smart play.
Anyone who buys ApeCoin is eligible to become a member of ApeCoin DAO, the decentralised organisation that will govern how the DAO's treasury is spent.
Ultimately voting on proposals about future projects related to the coin.
It’s smart.
So on the blog today, I’ll take a closer look at the APE ecosystem, breaking down the projects inside and speculating on the future.
Let’s dive right in.
Projects in the APE ecosystem
Let’s start by breaking down the three key NFT projects that currently make up the APE ecosystem:
1. Bored Ape Yacht Club (BAYC)
Let’s start with the OG daddy of projects.
Launched in April 2021, BAYC is an NFT collection featuring 10,000 unique digital collectibles of cartoon apes, each with a different look, style and rarity.
It’s true that Yuga Labs, the creator of BAYC, is a community member in the ApeCoin DAO, but they’ve adopted ApeCoin as the primary token for their projects.
BAYC holders have exclusive access to a variety of benefits, including the ability to mint new NFTs, attend events and participate in giveaways.
The BAYC has already achieved significant success, with some apes selling for millions of dollars on the secondary market and is the key to everything.
2. Mutant Ape Yacht Club (MAYC)
The second NFT collection in the APE ecosystem is an interesting spinoff of the first.
MAYC features up to 20,000 mutated versions of the BAYC Apes and helps onboard new members to the Ape community.
Original BAYC NFT holders were given 10,000 mutant serums in three tiers via airdrop to add rarity to their traits.
The Mutant Ape Yacht Club has quickly gained popularity among collectors, again seeing many of its mutants selling for impressive amounts on the secondary market.
Not as much obviously, but it’s a cool way to onboard new members into the community who may not have the resources to buy a prestigious, high-end Ape.
3. Bored Ape Kennel Club (BAKC)
The third member of the Ape ecosystem is something a bit different.
Launched in June 2021, BAKC is an assortment of dog NFTs that is again available to every single member of the BAYC.
But will provide a way to allow new members to be brought into the community via the secondary market.
Holders of each Bored Ape NFT can adopt a random Club Dog NFT by just paying for gas.
BAKC NFTs also have their own rarities and certain combinations between the projects can unlock even more benefits for their holders.
Future of the APE ecosystem
The APE ecosystem has already established itself as a vibrant community of NFT collectors and it's continuously expanding.
No matter what your personal opinions of the project are, there’s no denying that the team has got their branding spot on.
With the popularity of ApeCoin following its initial launch, there’s no surprise that the APE ecosystem is poised for more growth in the future.
Although there's no official announcement yet, rumours suggest that the APE ecosystem team is working on new projects that will be added to the ecosystem.
Some members of the APE community have speculated that the team might create a new NFT collection that focuses on a different animal species.
Or maybe they’ll introduce a new gamification feature to the ecosystem.
With ApeCoin, the foundations have been laid and the possibilities are endless.
Personally I’d like to see them get creative and think outside the box when it comes to NFTs.
Not just another cookie cutter clone of their original.
Best of probabilities to you.
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Can’t fault them for tokenizing good branding but I just don’t get it. It is funny and I appreciate the design and such but maybe I am just not the target market.
Love to see attention directed at fun blockchain initiatives and I will have to keep an eye on the development to see if it evolves into something I would have use for.
Great peak into something I would have otherwise ignored! Always love to discover and learn from those in the know
Haha, we're definitely not the target market.
What's your take on whether Hive dApps would be better off marketing themselves as 'fun', 'art' and 'community', rather than the more serious 'censorship-resistant', 'decentralised' line they all take?
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That sounds like a leading question and I agree with you. ;) It depends upon the target market.
Blockchain enthusiasts will play shitty games because they are on the blockchain. Gamers will come to and discover the blockchain because of good games, especially if they are rewarding.
The censorship resistant and decentralized may appeal to developers. So many games are blatantly developed as pay-to-win already so I would focus upon developers looking to stand out from the overcrowded venture capital trap and get an edge on the gorillas who squash the space for smaller innovators and leave them wilting on the vine.
With real game developers (no offense to the current Hive game developers blazing the trail!) building commerce/NFT/blockchain in at the concept level, there will be waves of gamers joining us. Many of these are game streamers who will discover 3speak and have followings on web2 so there will be a sweet reverberation. What happens when those gamers and streamers stumble upon @leo-finance and peers talking about business and personal finance? Then the sporty ones discovering @actifit, #sportstalk and the rest?
You get my point. Games are fun, and gamers will engage with that message. Developers need to be shown the financial and technical benefits through something like Leo and what the hell is there not a GITHUB on Hive?
I believe ape can still attract more project and if that happen it can very good for the project
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Yes sir!
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I don't know but the team behind it is kind of sketchy and I can't understand how people spend so many millions there. I think the game was first launched with major issues and people treat it like the NFTs are that valuable. Then again, I guess it's because I am not part of their club.
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The key is that the NFT is not just art.
It grants you access to a community of other extremely elite people who also own NFTs in that same collection.
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Personally I always thought the Bored Ape NFTs were just hideous, not my thing aesthetically!
Yep, the 'art' style is just not for me either.
But the whole concept of building a superrrr elite community of celebrities and the like who you gain access to via your NFT, is pretty cool.
And now ApeCoin is #41 by market cap (cries into my HIVE stack) and driving the Ape ecosystem further.
There's no denying they've absolutely killed it!
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41 - Jesus, I'm sure it'll collapse at some point, Hive has way more utility, not even comparable.
PS. Come back to publishing your content via leofinance.io so I can vote you.
I just can't bring myself to pay for content in LEO that will make other front-ends money in the long run.
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