APENFT was founded with the intention and goal of registering world-class artworks on the blockchain as non-fungible tokens (NFTs). Its goal is to become the NFT equivalent of the ARK Star Fund, bridging the gap between recognized musicians and the blockchain while encouraging the emergence of homegrown crypto artists.
What is APENFT?
APENFT’s goal is to make artworks that were formerly only available to the wealthy into something that is available to everyone. APENFT is underpinned by the core technology of top-tier blockchains Ethereum and TRON, as well as BitTorrent File System, the world’s most prominent distributed storage system (BTFS).
APENFT and its token NFT operate on the ERC721/TRC721 standard on the Ethereum and TRON public chains and are permanently saved in the BTFS decentralized storage system.
The community proposes and governs NFT, APENFT’s native token, and its features are managed via smart contracts, with all information accessible on-chain.
Members of the community will debate and build on the features of contracts that will be voted on via NFT and implemented according to the majority rule.
NFT will strive to expand its use in DeFi initiatives in the future, leveraging smart contracts and the TRON public chain’s virtual machine to improve connection. TRON now boasts more than 30 million users, with more than 1.8 billion transactions, the world’s largest stablecoin circulation, and a robust blockchain business environment.
NFT, APENFT’s digital asset is a TRC721-based token having a total quantity of 999,990,000,000,000 and a $0.00000012 initial releasing price. Users may earn NFT by participating in BTC, ETH, DOGE, TRX, BTT, JST, SUN, WIN liquidity airdrops, and mining, as well as discussing, generating, suggesting, and showing works in APENFT, giving industry knowledge, policy analysis, and other activities.
APENFT: roots and history
According to the Coinmarketcap website, on March 29, 2021, APENFT was formally registered in Singapore to address industry possibilities and weak spots.
APENFT’s core businesses include: investing in top NFT platforms and artworks, incubating leading NFT artists to create a bridge between world-class artists and the NFT world; sponsoring galleries, organizing art exhibitions or publications, and establishing awards to support artistic creation and criticism; and establishing art collections, among others.
APENFT Fund enhances the use cases of blockchain by incorporating it into the NFT ecosystem. As underlying assets, the Fund purchases well-known traditional and NFT artworks and seeks to raise the NFT trading standard. It assists government agencies, colleges, attorneys, and industry leaders in developing regulations that control the industry’s healthy development.
How does APENFT work?
Paintings and other traditional works of art are expensive because they are unique.
Digital files, on the other hand, maybe simply and indefinitely reproduced.
Artwork will be tokenized with APENFTs to establish a digital certificate of ownership that can be purchased and sold. It’s similar to auctions, but it’s on the blockchain.
The APENFT team will encourage the development and re-creation of world-class artworks, as well as established franchise and bespoke NFT collaborations with A-list celebrities with large fan bases.
NFT will strive to expand its use in DeFi projects in the future, leveraging smart contracts and the TRON public chain’s virtual machine to improve connection.
NFTs have a wide range of applications. However, when it comes to trading, the fundamental use case of APENFT is around employing art as an investment choice. Any item that gains value over time is a good investment.
Limited availability and accessibility are the two factors that determine how valuable something is. Art’s worth as an investment class is based on its scarcity and widespread acceptance by investors. Guernica is a one-of-a-kind painting. Poppies and a Wheatfield This uniqueness is what drives individuals to pay millions of dollars for a piece of art at an art auction.
Another option is to assist the business and increase investment in order to encourage more artists to emerge and produce new generations of art for the future century.
APENFT aspires to achieve both. In the sense that patrons interact with the art and the artists in a community setting, art is a community. Tokens can be adopted and traded by these communities as a type of digital badge/identity/barter system.
There will always be a real-world use case as long as a system of record is built and maintained, and individuals are ready to utilize NFT as a form of transaction to exchange value for their investment in art.
Why choose APENFT?
Art has long been a popular investment, outperforming the S&P 500 in many circumstances. As a result, owning it as an investment asset is not a novel use case that requires a solution.
Because NFTs may be fractionalized, regular retail investors may be able to invest in fractional tokens (shares) of renowned artworks stored on the blockchain. In principle, this means that an artwork may be owned by numerous people, each of whom owns a portion of the art token being sold.
A consortium that owns a well-known artwork is a real-world example of this. While a consortium is made up of a small number of people or businesses, fractional token percentages can be used at any level.
On the other hand, blockchains and tokens have the potential to expand art investment by allowing more and more ordinary investors to invest in percentages of it at much reduced rates.
This would increase the system’s (network’s) liquidity, which might aid in infrastructure modernization, education, promotion, and the formation of art as a viable job not just for eclectics and geniuses but also for people who appreciate it as a pastime. It has the potential to help generate more artists and provide financial aid to those who are refining their trade.
The earnings from art tourism are distributed to the state or museums. Every fan can have a piece of the revenues in an NFT future where the money isn’t flowing one way. It is passed back and forth between the artist and the fan. For supporting an artist, the fan receives monetary benefits. This leads to a far more sustainable economy and a more lively creative community.