Apeswap has been making great strides in the BSC DeFi space lately. Despite the entire BSC market taking a slight hit, Apeswap is hitting milestone after milestone with multiple partnerships, being listed on Yieldwatch and even has it’s own official Spotify soundtrack.
A Non Fungible Ape (NFA) is Apeswap’s brand of NFTs, a phenomenon that is taking the crypto space by storm. NFTs give you sole ownership of something, which can be worth… whatever people are willing to pay for them. And judging by the prices NFTs command today, people are willing to pay a lot. (check out Beeple’s NFT that sold for $69 million)
Apeswap has cashed in on this trend as well, creating 1000 NFAs with 5 different tiers of rarity to be sold in hotly competed over drops — The last 2 drops of 100 NFAs each sold out in just under 5 minutes. There are 3 main reasons for this:
- Popularity — Apeswap’s popularity as an AMM in the BSC space is rivalled only by Pancakeswap, which makes this achievement all the more impressive considering Apeswap was only released in February 2021.
- Scarcity — Apeswap has committed to only producing 1000 NFAs. No more will ever be produced and this scarcity, combined with Apeswap’s growing popularity will only serve to fuel the uptick in value for each NFA.
- Utility — Being the owner of an NFA doesn’t do much at the moment, but Apeswap has confirmed that it intends to roll out benefits in the near future. Airdrops, giveaways and early access for holders are some of the examples that Apeswap have teased in the past, and that is precisely what’s giving us this unique window of opportunity now.
For those familiar with the crypto space, ApeRocket will be to Apeswap what PancakeBunny is to Pancakeswap. Feel free to now jump to the next section of the article if that makes sense. If not, read on!
To explain everything PancakeBunny (and therefore ApeRocket) will need to have an entire article in itself. For now though, understand that ApeRocket intends to become the go-to spot for Apeswap users who prefer a more hands off approach. For a small fee, it’ll harvest and compound your farming/staking earnings periodically based on a schedule that optimizes gains.
This might not sound like much on paper, but begins to make sense when you realize that high value investors theoretically should compound their gains thousands of times a day or more in order to maximize their earnings. Between being permanently sat in front of a computer compounding their earnings or using ApeRocket’s services, I think it’s clear that ApeRocket wins out.
As ApeRocket grows in popularity, it’s $SPACE token will continue to appreciate in price. If history is any guide, $SPACE is definitely going to be something you want in your portfolio. After all, $BUNNY (PancakeBunny’s token) started at $4 and is now trading at $250, down from an all time high of $500. Based on today’s prices, that’s an increase of 6250%!
So how exactly do you get an NFA for free? Well.. you technically don’t. You’ll still have to go to NFTKEY and purchase one of the NFAs that’s currently being resold on the secondary market. But! Due to the upcoming launch of ApeRocket, NFA holders are being given a special airdrop of $15,000 worth of $SPACE tokens and therein lies our opportunity.
How many $SPACE tokens you get will be determined by the number of NFAs you hold and the rarity of said NFAs. The exact calculation has not been released, but let’s do some of our own math.
- Say you were to buy a Tier 1 NFA today that’s currently being sold for 1.4 BNB. That’s worth roughly $730 based on current BNB prices.
- Let’s assume for being the owner of a Tier 1 NFA, you receive 1 $SPACE token worth $9.
- ApeRocket then mirrors the success of PancakeBunny and its token increases 6250% to $562.5.
That means that you’ve just gotten a ridiculous discount of $562.5 on your purchase! If you get more than 1 $SPACE, you’ve actually made a profit from buying and holding the NFA. Not only will you benefit from the NFA continuing to appreciate in value, but you’ll now also qualify for any future benefits that only NFA holders are entitled to.
A bonus piece of information for some of the bigger investors reading this, I’ve just received word that the rarest NFA released to date, a Tier 5 Magic Monkey, has recently come up for sale on the marketplace for a whooping 59 BNB. It has ID 0003 of the the 1000 NFAs that will ever be released, so this might be a good chance for you to snap up a rare piece at a discount.
I’ll end this article here with the usual caveat: None of the above should be taken as financial advice and you should only invest what you can afford to lose. This author however, is ready to put his money where his mouth is and will be buying at least one of the cheaper NFAs today.
Will ApeRocket succeed in the DeFi space? Will history repeat itself and see $SPACE tokens appreciate 6250%? Stay tuned and I’ll keep you posted on whether my NFA purchase pays off in the long run.
Buy any Non Fungible Ape (NFA) from NFTKEY before 05:00 UTC on the 20th of May 2021. $SPACE tokens from the newly launching ApeRocket will be airdropped to you for holding an NFA, with an IAO price of $9 per $SPACE.