APENFT
APENFT is a multichain platform designed for metaverse experiences, GameFi, and NFT trading activities. Its objective is to facilitate connectivity between the NFT and fine art realms, leading the way in transforming high-quality works into NFTs and making fine art investment more accessible to a broader audience. Justin Sun and Sydney Xiong are the co-founders of APENFT. [1][2]
Overview
Established on March 29th, 2021, APENFT Marketplace operates as a multichain platform facilitating metaverse activities, GameFi experience, and NFT trading across various blockchain networks such as TRON, Ethereum, and Binance Smart Chain (BSC). With a primary focus on NFT trading, the platform caters to artists from both the NFT and traditional fine art realms, featuring works by artists like Beeple, FEWOCiOUS, Pablo Picasso, and Andy Warhol. By utilizing TRC-721 and ERC-721 token standards, APENFT ensures secure and efficient management of NFT-related data through the BitTorrent File System (BTFS) for decentralized storage. [2][3]
In addition to its digital offerings, APENFT facilitates storing and preserving physical art assets in specialized facilities with advanced security measures. The marketplace offers browsing options based on various criteria, such as price, collection, cryptocurrency, category, bidding, and purchasing functionalities. Each listing provides comprehensive information and trading history, with verified listings indicated by a verification icon to enhance authenticity assurance. APENFT leverages the Tron network for its scalability, low fees, and fast transactions, enabling smooth user experiences amidst the increasing demand for NFTs. Leveraging the BitTorrent File System (BTFS), a decentralized storage system, further ensures secure and permanent storage of NFTs and original artworks, reducing storage costs and enhancing accessibility without relying on centralized servers or intermediaries. [2][3]
APENFT Foundation
The APENFT Foundation, a non-profit organization established by APENFT, aims to register esteemed artworks as NFTs and support artists. It fosters the healthy growth of the digital art sector through acquiring prestigious artworks, nurturing emerging NFT artists, conducting research, organizing educational events, and forming partnerships with leading art institutions, auction houses, museums, and other stakeholders. [3]
TRONscription Marketplace
On May 9th, 2024, the TRONscription Marketplace was launched as a distinct section within the APENFT Marketplace. It focuses on inscriptions and runes, providing a platform for deployment, minting, and trading on the TRON blockchain. The first rune token under the TRONscription protocol is Wink, a redeemable rune issued by WINK. These Wink Runes are integral to the WINK GameFi ecosystem and are available for trade on the TRONscription Marketplace. [4]
Products
APENFT GameFi
APENFT GameFi is an initiative merging GameFi and NFTFi, combining gaming with decentralized finance and non-fungible tokens. A prominent release under APENFT GameFi is WIN NFT HERO, a 3D cartoon-style strategy game based on Tron, featuring heroes, equipment, and other NFT assets. Players engage in tactical battles using heroes like Vitalik Buterin, Satoshi Nakamoto, and Einstein to earn rewards, with the launch of the ALLSTAR season in September 2023 offering a reward pool of 48,000,000 WIN. [3]
APENFT Launchpad
APENFT Launchpad provides investors with early investment opportunities in promising NFT projects, offering potential benefits from their growth and development. Investors can engage in various types of offerings, including initial game offerings (IGOs), initial metaverse offerings (IMOs), and initial social network offerings (ISNOs), tailored to the projects' nature and category. Holding APENFT tokens grants investors access to exclusive NFT airdrops, rewards, and discounts, enhancing their participation on the platform. [3]
Additionally, APENFT Launchpad operates as an incubator for NFT projects, furnishing them with diverse resources and services, encompassing funding, marketing, technical support, legal advice, and more. [3]
NFT Token
The APENFT (NFT) token serves as the native token of the APENFT platform. It operates on the TRC-20 standard, which is interoperable with the Ethereum ERC-20 standard. With a fixed total supply of 999,990,000,000,000, the token follows a deflationary model, where a portion of tokens is burned with each transaction conducted on the platform. [1][3]
This token offers various use cases and benefits within the APENFT ecosystem. It enables users to engage in activities such as buying, selling, or exchanging NFTs on the platform. Additionally, holders of the NFT token can participate in different types of offerings, including initial game offerings (IGOs), initial metaverse offerings (IMOs), and initial social network offerings (ISNOs), providing early investment opportunities in promising NFT projects. Furthermore, holding NFT tokens grants access to exclusive NFT airdrops, rewards, and discounts. Finally, the token also allows users to participate in the governance and direction of the platform's development. [1][3]
Tokenomics
The NFT token distribution is as follows: [3]
- 30% allocated to partner artists
- 38% to DeFi airdrops, mining pools, and the NFT team
- 20% to the foundation
- 12% to the community
Partnerships
Poloniex
On May 25th, 2022, APENFT partnered with Poloniex, a cryptocurrency exchange, aiming to advance the adoption and technology of NFTs. Through this collaboration, Poloniex users gained access to trade NFTs directly on the exchange platform. Additionally, users were allowed to acquire Genesis NFTs, which now include benefits from Poloniex's VIP program and APENFT's VIP Club. [2]
