APECOIN Uses, Use cases, Differentiators, and Competitors
Apecoin Use Cases: APECOIN is tied to BAYC “the most expensive collection of NFTs”. All details about it. read on
ApeCoin is a Bored Ape Yacht Club-affiliated cryptocurrency based upon the ERC-20 blockchain. Apecoin brings a much-awaited governance aspect to the APE ecosystem. Amongst other things, ApeCoin represents a governance token (in other words, voting rights), giving ApeCoin holders a say in the project’s development and important decisions.
APECOIN serves multi-purpose work on the ecosystem.
- Coin holders can participate in the governance of the DAO to enable them to access exclusive features of the ecosystem, such as games, events, merchandise, and services.
- APECOIN is accepted by many merchants as it is a perpetual ERC-20 token.
- The coin is already in use as an NFT reward, and holders with BAYC receive free APE that they can cash in immediately.
Apecoin Use Cases
- APECOIN is a utility token that can be used to purchase game products developed by the BAYC community.
- It works as third-party developers in the ecosystem by integrating APEs into games, projects, and other services.
- APE is adopted as an incentive for players in Benji Bananas, a play-to-earn mobile game developed by Animoca Brands. Benji Bananas offers a Membership Pass (‘Benji Pass’), an NFT that enables its owners to earn special tokens while playing Benji Bananas and will also allow those tokens to be swapped for Apecoin.
HOW is Apecoin DIFFERENT FROM OTHER?
- BAYC (the most expensive collection of NFTs) is behind APECOIN. Therefore, this coin has a good reputation from others because of the endorsement.
- A major competitive advantage of Apcoin is its association with Yuga Labs, arguably the most influential presence in the NFT space. As a result, Apecoin benefits from all the social capital associated with Bored Ape Yacht Club and all other projects in the Yuga Labs ecosystem.
- In addition to NFT rewards, APECOIN allows payment options and other exclusive features within the APE ecosystem.
- APECOIN has been in the limelight since its appearance. The creators offered many incentives to increase their usefulness.
COMPETITORS OF APECOIN
- HachiFi: -This cryptocurrency is quite popular in recent times. Which is being built on a much wider ecosystem. Users can benefit from NFT collection and passive revenue.
- AXIE INFINITY: – This is a popular game inspired by Pokemon. Where players can buy virtual assets and sell them for real money.
- DECENTRALAND: – Decentraland is a platform powered by blockchain technology that enables the development of augmented reality land where users can buy, sell, or rent land parcels stored as NFTs on the Ethereum (ETH) blockchain.