Blockchain

Unbundling ApeX NFT Utilities, a Series of Rare In-game Digital Assets issued by ApeX Protocol

Decentralized and non-custodial derivatives protocol ApeX has released a total of 4,580 pieces of its original series of NFTs with special attributes and in-game characters which debuted on March 8, 2022, and sold out within 3 days. This launch rallied up just after the beta version of the ApeX protocol went live on Arbitrum mainnet on February 28, 2022.

In its future Loyalty Program, which is currently in the pipeline, ApeX NFTs are what holds the protocol’s governance token subscription interest as well as the proof of equity interest of ApeX VIPs. ApeX NFTs are fully integrated into the protocol’s utility which makes them extremely valuable as an art collection, in addition to their trading and token utility features.

A total of 20 ApeX OG NFTs were sold as whitelist invites, whose buyers cut across industry thought leaders, prominent researchers, and DeFi project investors. The remaining and final 4,560 ApeX Predators NFTs were minted and its sales were concluded on March 11.

The tremendous interest that preceded the ApeX NFT sales is proof that, despite the unfavorable crypto market performance in recent times, the NFT sector is still witnessing astonishing growth. The ApeX NFT will in no small way make the path right for the ApeX protocol to establish and express its core brand value and culture to the audience in the Web 3.0 domain, providing an unrivaled digital art experience to its growing ecosystem.

One Last Ape Standing: Bringing to the Spotlight ApeX NFT Game

A new gaming paradigm based on real asset ownership and a new “play-to-earn” model is gaining popularity with the emergence of blockchain-based gaming and non-fungible tokens (NFTs). Play-to-earn NFT-based games have captured the interest of gamers all over the world, swiftly becoming the industry’s fastest-growing segment. Leveraging on this concept, the ApeX team has embraced the concept of NFT gaming, resulting in the creation of ApeX’s flagship NFT game — One Last Ape Standing.

The core gameplay and inspiration behind the play2earn game “One Last Ape Standing” was derived from the popular Squid game, which is a coordination game where players may choose whether they want to take ownership of earned tokens right away or HODL it longer and earn from a bigger pool of tokens that will be lost by those that burn their own tokens much earlier.

To redeem the APEX token earned during gameplay, holders must burn their ApeX predator NFTs. ApeX NFT game payouts are separated into two categories: base rewards and bonuses. According to ApeX, two things influence the number of bonuses a player may earn: holding time and the number of NFTs left in the game. Over time, the gaming model is designed to create scarcity, compounding more rewards for the last ape standing.

ApeX NFT Utilities and How It Delivers Benefits to Holders 

The ApeX protocol is fast establishing itself in the Web3 domain and will continue to innovate towards the path of decentralization. The whole ApeX ecosystem is designed to unbundle and deliver utilities to the users who are mostly its ecosystem supporters. Each product within ApeX NFT is shaped to reward long-term supporters while delivering unmatched gaming and digital world experience to users. 

Aside from the play2earn benefits accrued to gamers holding ApeX NFT, the protocol has introduced a Loyalty program that enables NFT holders to become eligible for a tiered transaction fee reduction when using its derivative protocol. According to ApeX, all ApeX predator NFT holders will receive an 8% lifetime transaction fee reduction. Such holders are entitled to participate in the ApeX NFT gaming campaign and win up to 120K $APEX token.

The ApeX Predator NFTs are the entrance tickets for the ApeX NFT Game and the ApeX Loyalty Program. Early Predator NFT holders are entitled to special privileges; the longer the holding time, the greater the incentives. According to ApeX, Predators NFT holders will receive 0.2TH for each NFT held. All rebate rewards will be distributed in accordance with the official debut date of ApeX NFT Game.

More interestingly, OG NFT holders (ranked as the rarest) would receive a 50% lifetime transaction fee discount. To cap it, holders of ApeX NFTs will be privileged to receive additional benefits throughout the product’s marketing campaigns including airdrop events, and various incentives at the product level.

About ApeX Protocol

ApeX Protocol is a censorship-resistant, decentralized, non-custodial, permissionless perpetual derivative technology that allows for the creation of perpetual swap markets for any token pair. It enables users to utilize crypto derivatives on the Ethereum blockchain without the need for any middlemen while preserving complete ownership over their private keys.

The Protocol is the brainchild of Davion Labs, a novel blockchain firm and crypto incubator. Davion Labs focuses on tackling the majority of the difficulties in the industry while leveraging the commercial opportunities of the Web3 revolution.

To date, ApeX has been funded by influential and well-known VCs and strategic partners including Dragonfly Capital Partners, Miranda ventures, Tiger Global, Jump Trading, Kronos, CyberX, and M77 Ventures. These industry partners who graced the seed-funding rounds of ApeX are committed to the long-term vision of the protocol, helping to forge business partnerships and driving value to the ecosystem.

ApeX is on a mission to empower traders and crypto users all over the world by providing them with open and transparent financial instruments that will help them protect and increase their wealth. By launching ApeX NFT, the protocol will let its users tab into the growing opportunities that Web3 and the entire NFT space present.

ApeX Resource Links

Official website: https://app.apex.exchange/trade

Twitter: https://twitter.com/OfficialApeXdex

Telegram community: https://t.me/ApeXdex

Discord: https://discord.gg/apexprotocol

Medium: https://apexdex.medium.com/

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