What is APENFT? How does it work and using it?

Recently, some of you have received a certain amount of APENFT coins in your accounts, and it is not clear what NFT coins are, where they come from, and whether they have the potential for investment.

If you are interested in APENFT (NFT), please join us to find out more about this coin in the following article form AZCoin.

What is Apenft (NFT)?

Apenft is a platform used to digitize artworks as non-fungible tokens (NFTs) and store them on blockchain.

NFT was created with the mission of registering world-class artworks as NFTs on the blockchain, bridging the gap between top artists and blockchain, contributing to the widespread adoption of NFTs with everyone.

All artworks will be encoded using ERC-721/TRC-721 contracts on Ethereum and Tron. These tokens will be permanently stored on the blockchain, they are unique and cannot be replicated.

Highlights of Apenft

Advanced Technology

Apenft is built on leading blockchain platforms, Ethereum and Tron, and supported by the world’s largest decentralized storage system, Bittorrent.

Artworks are stored as ERC-721/TRC-721 tokens, ensuring uniqueness and ownership on the blockchain.

Apenft’s Renowned Art Collection and NFT Conversion

Apenft owns renowned artworks that have been converted into NFTs. Notable pieces include Pablo Picasso’s “Femme nue couchée au collier,” Beeple’s “Ocean Front,” and Andy Warhol’s “Three Self-Portrait,” with a combined value exceeding $1.83 million.

Nodes

To address key issues in the traditional art market, such as centralization, opaque pricing, low liquidity, and counterfeiting, Apenft will establish nodes comprising artworks, artists, communities, and committees of blockchain experts.

Each node has its own attributes, and together they contribute to Apenft’s mission of “registering world-class artworks as NFTs on the blockchain.”

Functions of APENFT

• Transforming Artworks and Artists into NFTs: NFT facilitates the one-click conversion of artworks and artists into NFTs, injecting new value into traditional art.
• Redefining Art Value: NFT aims to create a fairer and more transparent art valuation system by revolutionizing the way classic artworks are priced.
• Nurturing and Incubating NFT Artists: NFT dedicates significant resources to fostering NFT artists, providing them with a comprehensive development roadmap.
• Supporting Artists and Related Organizations: As an organization, NFT goes beyond digitizing artworks as NFTs and embraces the mission of supporting artists and related institutions.
• Conducting NFT Research and Policy Studies: NFT employs a team of experts to monitor and guide the industry through in-depth policy research and industry reports.

Apenft Tokenomics

Key Metrics

• Name of the token: APENFT
• Symbol: NFT
• Blockchain: TRON
• Standard of the token: ERC-20/TRC-20
• Contract: Being updated
• Type of token: Utility
• Total supply: 999,990,000,000,000 NFT
• Current circulating supply: Under update.

Token Allocation:

The APENFT token distribution is as follows:

• Houbi Prime: 2%
• Team: 19%
• Airdrop & Mining: 19%
• Artists: 30%
• NFT Purchase: 20%
• Partners: 10%

Token Release Schedule

All NFT tokens have been released.

Token Sale

Apenft will sell $NFT tokens on the Huobi Prime platform on May 20, 2021, with the following details:

• Total supply sold by Houbi Prime: 19,999,800,000,000
• NFT Trading volume: Round 1: 3,999,960,000,000 NFT; Round 2: 15,999,840,000,000 NFT
• Price: Round 1: 0.000000072 USDT; Round 2: $0.000000132 USDT

Token Use Case

• Governance: NFT token holders can participate in governance and vote on decisions regarding Apenft’s operations.
• Airdrop and Farm: Apenft currently has an airdrop program for wallets holding TRC20-BTC, TRC20-ETH, TRC20-TUSD, TRX, BTT, and JST on the Tron network. Users can also participate in farming to earn NFT tokens on the Justswap.org, Justlend.org, and Sun.io platforms.

Where can NFT tokens be traded?

NFT tokens will be traded on the Houbi exchange after completing the public sale round on Houbi Prime. Or if you want to trade other cryptocurrencies on other exchanges, check out the reviews on the best crypto exchanges 2024 page.

Which wallets can store NFT tokens?

NFT tokens can be stored in Metamark or Tron Wallet.

Assessing the Potential of Apenft

Project Team

Apenft is being developed by a team of experts from the traditional art industry and leading blockchain engineers from major companies like BAT.

The project was founded by Steve Z. Liu, who holds a Master’s degree from City University of New York and an MBA in finance from Columbia Business School. He has held various leadership positions in international financial organizations such as Fidelity International, Salomon SmithBarney, Nomura Holdings, Linghui Venture Capital, and Libra Capital.

Partnerships

Apenft has major partners in the traditional art industry for art appraisal, acquisition, and storage, such as Sotheby’s, Christie’s, Nifty Gateway, and Helutrans Artmove.

Additionally, Apenft has partnerships with major blockchain networks, including Bitcoin, Ethereum, Binance Smart Chain, and Heco Chain.

Roadmap

• Phase 1: Establish infrastructure for the NFT ecosystem.
• Phase 2: Expand NFT reach and adoption by listing NFT tokens on exchanges.
• Phase 3: Enhance ADENFT’s NFT offerings, including art restoration, licensing, and developing a derivatives market for the community.
• Phase 4: Ensure security and authenticity of artwork on the blockchain.

Summary

Apenft was created with the mission of registering world-class artworks as NFTs on the blockchain. This helps bring NFTs closer to the public, allowing people to buy, sell, and exchange artists’ works securely, safely, and easily.

This article shares information about the Apenft project, hoping to provide readers with more information and an objective view of the project. Review the Evaluation Process to gain further insights into a potential project.