ApeSwap Continues “Non-Fungible Apes” Distribution on NFTKEY

ApeSwap has seen recent speculation as they branch out into the NFT market. Let’s dive into what these non-fungible assets are and what it means for the project.

By
Robert D. Knight
on
May 7, 2021
Category:
BSC News

The Scoop

The AMM is continuing sales of non-fungible apes, a set of 1,000 cryptographically generated unique, rare, immutable, digital apes (NFTs). Each non-fungible ape is created by hashing a string to randomly generate one of 6 characteristics. The next sales round occurs on May 8th on NFTKEY.

Source

The Sale

ApeSwap has conducted three sales rounds of its non-fungible apes as the process enters its second month. 330 Apes have already been sold with 100 apes in each new round. The company is now preparing for its 4th batch of apes which will be made available on May 8th at 22:00 UTC on NFTKEY.

The previous sales by ApeSwap all managed to sell out in minutes, so it's highly likely that the next round will follow suit. The aftermarket, in which successful buyers trade their apes with others has also been incredibly lively, generating thousands in NFA transactions. The most expensive ape on the market so far sold for nearly $15,000.

Non-Fungible Apes

Non-fungible apes are an NFT asset on ApeSwap that are randomly generated with 6 characteristics: Base, Face, Frame, Mouth, Eyes, and Top. Combining these characteristics in different configurations offers unique ape designs, with some far rarer than others. Some characteristics are far rarer than other others. For instance, only a total of 32 apes have laser eyes while 107 apes wear shades.

The rarity tiers of each ape are as follows:

  • Common Chimps: Tier 1 (500 NFAs) — Most common
  • Original Orangutans: Tier 2 (250 NFAs)
  • Alluring Apes: Tier 3 (150 NFAs)
  • Prime Primates: Tier 4 (70 NFAs)
  • Magic Monkeys: Tier 5 (30 NFAs) — Most rare

About ApeSwap

Source

ApeSwap is an AMM and Decentralized Exchange (DEX) on the Binance Smart Chain. ApeSwap has seen their locked value rising recently, especially after the release of their Sonic Boom fastrack launchpad product, inspiring more creators and developers to work with the project.

Conclusion

The NFT marketplace has slowed slightly since its highs in February with average prices falling by around 60%. The average price of an NFT is still well above the thousand mark at $1,500, and for those projects which are able to instill excitement within their community, the average prices can be higher still. ApeSwap NFTs have proven themselves to be highly collectible, with many owners able to sell the tokens on for profit. With a limited supply of only 1,000 NFAs and some ultra-rare ape types, there are enough assets to turn the heads of NFT collectors on the Binance Smart Chain.


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Robert D. Knight

Robert D. Knight is an experienced journalist and copywriter who has been working in crypto for 4+ years. His bags are heavy in ETH and BTC, plus he also hodls some smaller cryptocurrency.

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