The launch of ApeCoin has left a lot of investors with a bad taste in their mouths. It is easy to see what the founders of the BAYC were trying to achieve with this cryptocurrency but suffice to say that it has not lived up to expectations. Providing a utility token for an already established ecosystem is a noble undertaking. However, it needs to be properly implemented for it to be well-received.
ApeCoin seems to have failed in this regard given the less than warm reception that it has received in the public. So now investors are asking, where is the coin that is actually pulling off what ApeCoin tried to do? This is where PFPcoin comes in, a better, well-implemented cryptocurrency that not only brings utility to the NFT space but inclusiveness for all.
PFPcoin Beating The Hype
PFPcoin is a governance token for OpenPFP, an NFT marketplace that is launching on the Ethereum network. OpenPFP is the new initiative incubated by Radio Caca. It will be launched on March 28 while the governance token $PFPcoin will be deployed on Jul 8, 2022 (Tentatively).
This coin serves as the utility token for the marketplace, making it a valuable asset to have. Unlike ApeCoin, PFPcoin services a prominent platform on which the buying and selling of NFTs happen, while the former simply has no platform which it services.
This simple fact alone makes PFPcoin the better choice for investors to pitch their tents with. Not only will this token service the entire OpenPFP ecosystem, but it will also be used as a rewards system just for participating on the platform.
Given that estimates for trading volume on the OpenPFP NFT marketplace in just the first year of operation are in excess of $10 billion, it provides even more value for investors holding the digital asset. As the platform grows, so will the value of the token.
Comparing The Two
A good place to look when determining the viability of a cryptocurrency is tokenomics. Being directly attached to the NFT space, these two projects share similarities in their structure but also stark differences which do well to highlight the better of the two. One of these differences is the way the total token supply is distributed among founders, contributors, and the general public.
Both ApeCoin and PFPcoin have a total supply of 1 billion coins, a standard supply for the current market climate. 14% is marked out for the ‘launch contributors’ meaning those who invested in the project to bring it to fruition. This is the same for PFPcoin. Both projects also have a DAO council that includes VIPs in the crypto space. However, this is where the similarities seem to end.
ApeCoin announced that it would be keeping 8% of the supply for the project founders. But for PFPcoin, the exact opposite is the case as project founders do not get any of the supply.
Moving forward, Yuga Labs, the team behind the BAYC gets 15% of supply and 1% goes to the Jane Goodall Legacy Foundation. This is not the case with PFPcoin as the team gets no part of the supply. Rather, they make their money from the 2% fee charged on transactions carried out on the OpenPFP platform, part of which also goes to servicing the PFPcoin/USDT LP pool rewards.
For ApeCoin, only 62% goes to the ecosystem fund that is to be airdropped out to the members of the BAYC. This effectively cuts out the rest of the public who are not a part of this ‘elite’ group, meaning they have no chance of getting in at launch.
PFPcoin completely eliminates this bias and unfairness by having 86% of its total supply serve as the ecosystem fund. Investors are able to get their hands on the tokens by participating in the IDO or staking their RACA tokens to get PFPcoin rewards. They can also get these tokens by being active on the NFT marketplace. PFPcoin welcomes investors of all walks of life and financial backgrounds to partake in the future of NFTs.
Why You Should Get In Early On OpenPFP
OpenPFP’s NFT marketplace is a world of endless wonders for NFT creators and collectors. Not only can they make money from buying and selling NFTs, but they can also make money from being active NFT participants. Some of the perks of getting in early include;
- 20% of $PFPcoin will be airdropped to openPFP, OpenSea, and LooksRare traders (NFT buyers and sellers) in July 2022.
- Trading fee is 0% by Apr 15, 2022
- Trading fee is 1% During April 16, 2022 – July 16, 2022
- Trading fee is 2% on July 17, 2022
- 3000 land will be offered to top PFP traders for the first 12 months.
- 500 land will be granted to the top 500 traders in April.
- 500 land will be granted to the top 500 traders in May.
- 200 land will be granted to the top 200 traders in the next 10 months.
- Top trading accounts with a minimum of 100 ETH trading volume of one account in the first three month will be airdropped one land.
- The trading volume is defined as the sum of the selling and buying
About Radio Caca
Founded in May 2021, Radio Caca is a Web 3.0 infrastructure solutions provider. Radio Caca’s product line currently consists of the United States of Mars (3D Metaverse), Metamon, and three NFT marketplaces. One is a decentralized exchange (DEX) called Radio Caca NFT Markets; the other is OpenPFP, and another is a 100% centralized NFT marketplace in the USM. Radio Caca has a strong and growing community with more than 594,000 Twitter followers, 515,000 Telegram members across global communities, and 68,000 Discord members.
In June 2021, Radio Caca released its first Web 3.0 product, a collection of profile picture style NFTs for Maye Musk. Over six months, the collection’s trading volume exceeded $60 million. The floor price of the collection is currently more than 10,000 times greater than the original retail price of $20. On the whole, the trading volume of Radio Caca’s NFT marketplace surpassed $2 billion in the preceding six months, with more than 70,000 daily active users. The total revenue from NFT proceeds in 2021 was worth $142 million.
The company is backed by OKX Blockdream Ventures. Both BEP-20 $RACA and ERC-20 $RACA have been listed on OKX since November 2021. The RACA token has been bridged to ETH and OEC and will be bridged to Solana, Klaytn, Polkadot, and more public blockchains in the near future.
Quick Links
(1) Twitter: https://twitter.com/RadioCacaNFT
(2) Website: https://www.radiocaca.com
(3) Telegram: https://t.me/RadioCaca
Ethereum Token Address:
0x12bb890508c125661e03b09ec06e404bc9289040
BNB Chain Token Address:
0x12BB890508c125661E03b09EC06E404bc9289040
Source: https://crypto.news/looking-alternative-apecoin-pfpcoin/