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ApeX, a non-custodial and decentralized derivatives protocol, has introduced a total of 4,580 items of its original NFT series with unique attributes and special in-game characters, launched on March 08, 2022. The entire lot was sold out in 3 days, launched soon after the ApeX protocol’s beta version went live in February on the mainnet Arbitrum.
The protocol’s NFT is fully integrated with ApeX’s utility with the token utility and trading features. It gives value to NFTs in the form of an art collection.
Around 20 NFTs of ApeX have been sold out in the form of whitelist invites, the buyers of which include prominent researchers, industry leaders, and DeFi (decentralized finance) project investors. 4,560 Predators NFTs were later minted and sold out by 11 March.
The growing interest preceded the ApeX NFT sales of the protocol, and it proves that even though there has been an unfavorable performance of the cryptocurrency market in the present scenario, the NFT sphere is still observing exponential growth. The protocol’s NFT is most likely to play a significant role for ApeX to develop and express the core ApeX brand value and its culture to the Web 3.0 audience, offering an unrivaled NFT art experience to the growing decentralized ecosystem.
One Last Ape Standing: Bringing ApeX NFT Games to Spotlight
A new paradigm for gaming based on a brand-new play-to-earn version and real asset ownership is becoming increasingly popular with the advent of blockchain-powered NFTs or non-fungible tokens and gaming. NFT-based play-to-earn games have successfully captured players’ attention from across nations and have swiftly become the industry’s fastest-growing sector. To leverage this idea of NFT gaming, the development team at ApeX has developed its flagship NFT-based game called One Last Ape Standing.
The main inspiration and gameplay behind the “One Last Ape Standing” game is the famous Netflix series “Squid game.” It involves a game of coordination where participants must choose if they wish to own the earned tokens instantly or HODL them longer to earn a larger pool of coins that will ultimately be lost when players burn their tokens.
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To redeem the tokens on ApeX during a game, players must burn their Predator NFT. The protocol’s NFT game withdrawals are divided into two groups – bonuses and base rewards. As stated by ApeX, two things influence the number of bonuses earned by a player – the remaining number of NFTs in the game and the holding time. The gaming model was redesigned to develop an artificial scarcity, increasing the number of rewards for the last standing ape.
NFT Utilities of ApeX and How they Deliver Benefits to the token Holders
The ApeX protocol is establishing itself in the fastest possible way, especially in the Web 3.0 domain, and it is most likely to continue its innovation towards decentralization. The entire ecosystem of the protocol is designed to expose and deliver NFT utilities to its users, who are the main supporters of the ecosystem.
Every product within the protocol is designed to reward the long-term token holders while offering all users an unmatched digital world gaming experience. Apart from the benefits of the play-to-earn game offered to gamers holding the NFT, ApeX has also introduced its loyalty program enabling token holders to become a part of the tiered transaction fee reduction while using the derivative protocol. As stated by the team at ApeX, all Predator NFT token holders will get a lifetime transaction fee reduction of 8%. The holders will be entitled to participate in the NFT campaign and get a chance to win a maximum of 120K worth of $APEX tokens.
Predator NFT of ApeX is a ticket to the NFT game and the loyalty program. Early NFT holders get to enjoy special privileges – users who hold the tokens for the longest time get the best incentives. Predators NFT holders at ApeX will get 0.2TH for every NFT held. The rebate awards will be distributed according to the official ApeX NFT game debut date.
All OG NFT holders will get a lifetime transaction fee reduction of 50%. ApeX NFT holders will also be privileged to get extra benefits throughout the marketing campaigns of the product, including various airdrop events and incentives.
ApeX Protocol
A decentralized, permissionless, censorship-resistant perpetual derivative protocol, ApeX, allows the development of a perpetual swap market for token pairs. It allows users to use cryptocurrency derivatives on the ETH Blockchain network without requiring middlemen, and it also preserves ownership over private keys.
Apex is the brainchild of Davion Labs, a new crypto incubator, and blockchain firm that focuses on handling most of the difficulties in this industry. It leverages all commercial opportunities in the Web 3.0 revolution.
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The protocol has received funds from well-known and influential VCs and strategic partners such as Miranda ventures, Dragonfly Capital Partners, Kronos, M77 Ventures, Tiger Global, Jump Trading, and CyberX. The industry partners have graced Apex’s seed-funding rounds. They have promised long-term cooperation with the protocol, assisting in forging business partnerships and driving value to the ApeX ecosystem.
The protocol is currently on its mission to give more power to crypto users and traders all around the world by offering them transparent and open financial instruments that will assist and allow them to increase and protect their wealth. The launch of the ApeX NFT will allow its users to enter and gain from the increasing opportunities offered by the entire NFT ecosystem and Web 3.0.
