What is the appeal of APENFT, supported by Sun Yuchen and preferred by Firecoin Prime?

The first project chosen is APENFT, a project focused on the NFT of artwork. why did firecoin choose APENFT?

What is the appeal of APENFT, supported by Sun Yuchen and preferred by Firecoin Prime?

On May 20, after a year and a half of suspension, Firecoin Prime restarted, and the first project chosen was APENFT, a project focused on NFTing artwork. why did Firecoin choose APENFT and what kind of project is APENFT?

The first windfall in the cryptocurrency market in 2021 is undoubtedly NFT.

According to Coingecko’s data, the NFT market grew 1,785% in value in the first three months of 2021, with over $2 billion in sales in the first quarter, a 20-fold increase from the previous quarter. Although April and May saw a significant slowdown in growth, it is still substantially higher than the levels seen through 2021.

Driven by high market enthusiasm, a number of new projects have emerged in the NFT space. Behind them, there are often blockchain industry giants and capital driving them, and an arms race in the happening NFT space has begun.

The company’s first project was APENFT, a project focused on the NFT of artwork, which officially went live after trading, and its token NFT opened with a maximum gain of 3,954%.

Last week, APENFT also announced that it would start an airdrop campaign on June 10, and users only need to hold TRC20-BTC, TRC20-ETH, TRC20-TUSD, TRX, BTT or JST tokens on some exchanges and wallets to get the airdrop.

The most interesting thing for investors is that Sun Yuchen, the founder of Wavefield TRON, is also involved in the project and even donated his works such as Picasso’s Femme nue couchée au collier and Andy Warhol’s Three self portraits, which cost nearly 200 million RMB, to APENFT. These works were donated to APENFT to support its innovative exploration in the field of “blockchain + art”.

What is the appeal of APENFT, supported by Sun Yuchen and preferred by Firecoin Prime?

The reclining nude woman wearing a necklace”, Picasso

The emergence of APENFT has led to a lively discussion among investors: why did Firecoin choose APENFT, and what kind of project is APENFT?


Quality projects become the focus of NFT market competition

The market’s enthusiasm for NFT is directly presented in the number of NFT projects. In the past month, dozens of new projects, large and small, have emerged in the NFT market, among them NFT trading market, NFT infrastructure and NFT games.

In this context, major blockchain head companies have also come down to layout NFT, which includes both investment institutions and major exchanges. They are engaged in a fierce competition around these nascent quality projects.

Maple Leaf Capital, IOSG and other top investment institutions released their annual reports at the beginning of the year, showing that their 2021 investment directions are all targeting NFT and related infrastructure.

DFG, NGC and other investment institutions have even started to identify quality projects in the NFT market early, such as Efinity, Polkarare, TopBidder, My Neighbor Alice, etc.

Exchanges with a deeper understanding of the blockchain industry have also become the absolute main force in this scramble. Among them, OKEx has invested in the NFT project Bswap in addition to launching the NFT ecological segment; Coinan has announced that it will launch the NFT trading market, and many NFT ecological projects are deployed on the Coinan smart chain.

Firecoin appears to be more imperative to the NFT market, in addition to setting up an investment company and incubating a new NFT trading platform.

In addition, Firecoin restarted Firecoin Prime on May 20, officially opening the seventh phase of Huobi Global Preferred Coin Launch (Huobi Prime), and APENFT became the first coin launch project after the restart of Firecoin Prime.

The first project of the relaunch of Huobi Prime was selected from the NFT field, which was not expected by the market, but why APENFT?

Steve Liu, chairman of the APENFT Foundation, said that APENFT became the first project after the relaunch of Firecoin Prime after a number of strict selection processes to ensure both the quality of the project and the authority of the partner.

APENFT, which is well equipped with technology and scenarios, is naturally the best choice; plus the cooperation with the famous NFT artist Beeple and the three major NFT auction platforms Christie’s, Sotheby’s and Nifty Gateway, which is favored by many people “inside and outside the circle”.


How to bring art back to the public

APENFT was established in March 2021. According to the white paper, APENFT’s main business includes investment and layout of top NFT platforms and works, incubation of top NFT artists, and providing a bridge for traditional top artists to enter NFT.

Steve Liu, chairman of APENFT Foundation, told Chaintech App that APENFT’s main work is to NFT artworks, to bring “art back to the public”, and to let artworks show greater value, instead of just being carefully kept in someone’s or a museum’s vault.

Steve Liu believes that the traditional art market is still too accessible to the general public, and that only a few people can participate in art collecting.

APENFT’s goal is to solve this problem by enabling the NFTization and blockchainization of the world’s top artworks, and to become a star fund in the NFT space.

APENFT’s first batch of NFT-ized artworks mainly came from the donation of Wavefield TRON founder Sun Yuchen, who tweeted on April 1 that he had auctioned Picasso’s “Reclining Nude Woman with Necklace” for $20 million and Pop Art master Andy Warhol’s “Three Self-Portraits” for $2 million. Self-Portrait” by Pop artist Andy Warhol for $2 million.

These two works, along with Beeple’s OCEAN FRONT and Boris Alzbashev’s THE COMPUTERIN SOCIETY, were NFTed by APENFT, minted as ERC-721/TRC-721 tokens on Ether and Wavefield, and stored in the distributed data storage system Bittorrent File System (BTFS).

What is the appeal of APENFT, supported by Sun Yuchen and preferred by Firecoin Prime?


In the APENFT governance system, the owner of the APENFT governance token NFT will have the right to decide the disposition of the APENFT collection, the acquisition, on-chain distribution and exhibition of potential artworks, as well as the right to decide on the content of exhibits, exhibition methods and duration of the Cyberpunk Online Virtual Museum.

It also votes on the future direction of the collection, including but not limited to the style, discipline, age, authorship and form of the artwork, and approves the method and amount of support.

In this way, NFT holders not only participate in the art collection, but also share in the circulation value generated by the artwork, which not only liberates the productivity of the art field, but also changes the production relations.

APENFT’s ambition does not stop there: from the day it was born, it has been working to expand its “circle of friends” and create a complete NFT ecology.

In the white paper, APENFT’s vision also includes improving industry standards for NFT transactions, and working with government departments, universities and colleges, lawyers’ groups, and industry elites to support relevant industry governance policies and promote the healthy development of the industry.


Why did FireCoin Prime choose APENFT?

According to Coinmarketcap’s data, among the global cryptocurrency spot exchanges, FireCoin currently ranks second in terms of daily trading volume, with a small gap to the top-ranked Coinan. In the field of derivatives such as futures and options, Firecoin is ranked third, slightly behind OKEx.

At the same time, the competition between exchanges is becoming more and more intense due to the rise of decentralized exchanges crowding out the trading market. Under the attack from both sides, Firecoin has been putting strategic focus on fostering excellent projects and building its own ecology in recent years. The relaunch of Firecoin Prime and the selection of APENFT is a continuation of its strategy to expand its ecology.

From this perspective, there are two main considerations for the cooperation between Firecoin and APENFT: one is to lay out the NFT field and use star projects like APENFT to quickly seize the market; the second is to improve its own ecology and explore new cooperation models.

As mentioned before, the arms race in the NFT field has already begun, and the cooperation between Firecoin and APENFT is undoubtedly one of its layouts for the NFT field.

The NFT market has unlimited potential, and APENFT itself is supported by the works of artists such as Picasso, Andy Warhol and Beeple, and has the traffic brought by Sun Yuchen and Booba, which itself has great attraction to the market.

The cooperation between Firecoin and APENFT can be said to have taken into account both the development prospects of the project and the topicality of APENFT, and it is completely expected that this will be one of the combinations to lay out the NFT market.

In terms of improving the ecology, APENFT, which has many “friends”, is also a very good entrance. In addition to the in-depth cooperation with the famous NFT writer Beeple and the three major NFT auction platforms Christie’s, Sotheby’s and Nifty Gateway, APENFT Foundation also announced that APENFT has entered into a strategic cooperation with just.network.

And successively landed on Poloniex, TronLink, Mathwallet, Lbank, Bibox, Bitrue, BitZ, Digifinex, Newdex and other well-known global digital currency exchanges.

In terms of scalability, APENFT has currently deployed contracts on several public chain platforms such as Wavefield, Ether, Coinan Smartchain, and Firecoin Ecosystem Chain respectively, and will cooperate with more public chain platforms in the future.

This strategy of rapid cooperation aims to explore a new way of cooperation and set a standard model for future cooperation. Through the cooperation with APENFT, the project will be connected to the Firecoin ecosystem, which is undoubtedly a good choice.

From this perspective, the choice of APENFT for the first project after the relaunch of Firecoin Prime is a good move, given the strong capital, many “friends” and powerful ability to “expand the circle”.

But APENFT is only one example of the upcoming NFT market competition. As quality projects like APENFT continue to join the competition, the NFT market will undoubtedly see an unprecedented boom.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/what-is-the-appeal-of-apenft-supported-by-sun-yuchen-and-preferred-by-firecoin-prime/
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