When you hear the name APENFT, you may not immediately think of the works of Pablo Picasso and Andy Warhol, but in this Digital Gallery, the works of these two people are put together with Beeple, Pak, Tron Meebits and other works. It plans digital art works and real-world works as non-fungible token(NFTs).
APENFT was registered in Singapore in May, 2021 by Steve Lui, a former electronic engineer with an MBA in finance. APENFT has a cooperative relationship with world-class auction houses Christie’s and Sotheby’s. APENFT’s native token NFT is mainly deployed on the Tron blockchain, with a small supply on Ethereum. What are APENFT and NFT, should you invest? Let’s take a look.
What is NFT?
At present, 28% of the 999,990 trillion supply volume of NFT plan is in circulation, and the single price is US $0.000002009. The most recent 24-hour trading volume was US $148.67 million, equivalent to 27% of the market value of US $557million.
In terms of distribution, 19% is reserved for public offering through airdrop, 30% for art partners, 20% for purchasing artworks, 19% for teams, 2% for listing on the exchange, and 10% for other cooperation.
NFT is used as a governance token for APENFT’s Dao portal. Users holding five trillion or more NFT tokens can initiate proposals. So far, three proposals have been passed, relating to listing and tokenomics.
The 10 largest Tron wallets hold only 13.89% of the supply, indicating a good degree of dispersion. Four of the addresses are the exchange wallet, three are smart contracts linked to the liquidity pool, and the other is the burning address. Only 2% is in private hands.
A private address holds 99% of the small supply on Etherscan, worth slightly less than $20million. Huobi global is the most popular centralized exchange, followed by KuCoin, Poloniex and Gate.io.
Recent Price Trend
Since the middle of November 2021, NFT has been in a downward trend, reaching a high of US $0.0000060 on the 15th. Prior to this, September 5 witnessed a record high of US $0.0000076.
Throughout December and most of January 2022, the token remained stable until the two-day sharp decline further reduced NFT by 40%. Although at the time of writing this article, the trading price was slightly higher than the low point in 2022, NFT has shown a downward trend again since February 7
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