A deep dive into APENFT, the leading NFT marketplace on Tron, which seeks to further the NFT space by bringing renowned artworks as NFTs on the blockchain and onboarding top artists.
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With the NFT market experiencing a rebound, non-fungible-tokens look primed to expand to previously overlooked chains.
TRC-721 is Tron’s native NFT standard. It is fully compatible with ERC-721 – the standard used for creating NFTs on Ethereum. TRC-721 enables the creation and transfer of NFTs on Tron, equivalent to the functions ERC-721 fulfills on Ethereum. NFTs on Tron contain the same information like owner ID, metadata, links to stored files and other details as their counterparts on Ethereum.
TRC-721 also supports optional extensions that can enhance NFT functionality and discoverability on Tron. For example, the metadata extension allows creators to store information in their NFTs, such as name, symbol and URL link pointing to a JSON file adhering to the TRC-721 metadata structure. Some existing and upcoming NFT projects leveraging TRC-721 include:
APENFT was officially registered in Singapore on March 29, 2021 and is backed by prominent entities like Tron, BitTorrent, HTX (previously Huobi) and Poloniex. The “NFT” governance token is used for voting, rewards and platform fees. NFT exists as a native token on Ethereum, Tron and the BNB Chain and can be bought and sold on centralized exchanges like HTX, Gate.io, OKX and KuCoin.
APENFT is built on the Tron network, a decentralized high-speed blockchain. Tron aims to host global entertainment by sharing digital content affordably via low fees and near-instant settlements. APENFT also leverages the BitTorrent File System for distributed file storage, ensuring NFT metadata security, availability and permanence. It follows the TRC-721 standard for issuing NFTs on Tron, compatible with ERC-721.
The APENFT Foundation is a non-profit organization established by APENFT to achieve its mission of registering world-class artworks as NFTs and supporting artists.
The Foundation aims to promote healthy development of the digital art industry through various initiatives:
The Foundation operates independently as a non-profit to prioritize non-commercial goals around supporting art and artists. It helps drive APENFT's mission forward through diverse cultural and educational initiatives focused on making art more accessible.
To measure the performance and growth of APENFT, we can look at some of the key metrics that reflect its activity and popularity in the NFT space:
These key metrics show that APENFT is a leading platform for onboarding high-quality artworks and the democratization of art investment on Tron. The platform has a large and diverse collection of NFT artworks and growing trading volume of its native token.
APENFT has demonstrated its innovation and leadership in transforming traditional artwork into NFTs, by acquiring and tokenizing several iconic artworks from renowned artists such as Picasso, Warhol and Beeple. It has also sponsored and participated in various events and initiatives to promote the development and innovation of the NFT art industry.
APENFT is committed to advancing the NFT art industry, and to bringing more value and opportunities to the artists and collectors in the NFT space. APENFT believes that NFTs are not only a new form of digital expression, but also a new way of preserving and appreciating the beauty and diversity of art.
APENFT also leverages the BitTorrent File System (BTFS), a decentralized storage system that allows users to store and share files without relying on centralized servers. BTFS ensures that the NFTs and the original artworks are stored securely and permanently, without relying on any centralized servers or intermediaries. BTFS also reduces the storage costs and improves the accessibility of the NFTs. BTFS leverages the BitTorrent network and its millions of users.
APENFT GameFi is a new initiative combining the fields of GameFi and NFTFi. GameFi blends gaming and decentralized finance, while NFTFi combines non-fungible tokens and DeFi.
Under APENFT GameFi, it launched WIN NFT HERO, a 3D cartoon-style strategy game based on Tron. The game involves heroes, equipment, and other NFT assets. Players can choose heroes, including Vitalik Buterin, Satoshi Nakamoto, Einstein and more, to participate in tactical battles and earn rewards. WIN NFT HERO launched the ALLSTAR season in September 2023 with a reward of 48,000,000 WIN.
APENFT Launchpad offers investors the opportunity to invest in promising NFT projects early and enjoy the benefits of their growth and development. Investors can participate in different types of offerings, such as initial game offerings (IGOs), initial metaverse offerings (IMOs), and initial social network offerings (ISNOs), depending on the nature and category of the projects. Investors can also access exclusive NFT airdrops, rewards and discounts by holding APENFT tokens, which are the native tokens of the platform.
APENFT Launchpad also serves as an incubator for NFT projects, providing them with various resources and services, such as funding, marketing, technical support, legal advice and more.
The APENFT (NFT) token is the native token of the APENFT platform. The NFT token is based on the TRC-20 standard, compatible with the Ethereum ERC-20 standard. The token has a fixed total supply of 999,990,000,000,000, and follows a deflationary model, meaning that a portion of the tokens will be burned every time a transaction occurs on the platform.
The NFT token has various use cases and benefits on the APENFT platform, such as:
The tokenomics of APENFT (NFT) token are as follows:
It also aims to strengthen token circulation and governance, expand partnerships and businesses, and ultimately help lead the digital world by NFTs. If successful, APENFT could have a significant and lasting impact on the broader art and blockchain communities.
APENFT's mission is to register world-class artworks as non-fungible tokens (NFTs) on the blockchain. It is built on the TRON network and governed by the holders of its NFT token.
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