What Is It and How It Revolutionized the NFT Space? 

Before the introduction of NFTs to the world, converting historical masterpieces and artwork into digital collectibles was like a dream. To encourage creativity, initiate a trend in the future art sector, and uplift the worth of artworks, terms like NFT and blockchain technology were introduced. Blockchain technology helps artists map their artwork on the blockchain networks to design digital collectibles of asset nature that are registered in Non-Fungible Tokens (NFTs). One such platform is APENFT, designed with the motive to register world-class art pieces as NFTs on the blockchain.   

What is APENFT (NFT)? 

APENFT is a platform mainly introduced to meet opportunities and rectify the pain points in the NFT space by constructing a channel between blockchains and creators. The only purpose behind the platform’s launch is to make art accessible to all by registering art pieces as NFTs on the blockchain. The respective platform made it easy for the artists to overcome the problems linked to traditional methods of creating artwork along with making them more accessible to art enthusiasts. 

Focusing on the history, the platform was first introduced to the NFT world on March 20, 2021, by a team of experts from the traditional art industry, professional engineers, and blockchain technology experts. Steve Z. Liu, an electrical engineer and an MBA in international capital markets is the President of APENFT  

APENFT is officially registered in Singapore and is developed on the TRON ecosystem and powered by BitTorrent, one of the biggest distributed data storage systems, and is backed by Ethereum. NFT is the digital asset of the APENFT platform and is a TRC721-based token.

Currently, the platform holds artworks from artists including Andy Warhol, Beeple, Pablo Picasso, Pak etc. The platform is planning to expand its roots, inviting influential art creators and researchers with more room to run. 

After knowing the motive and technologies associated with the respective network, let’s explore the complete working of the platform.  

The Complete Working of APENFT

APENFT is accountable for converting the artworks and artists on-chain in a single hit and is supported by technologies including TRON, BSC, and Ethereum. BitTorrent File System (BTFS) is adapted for decentralized storage of information associated with NFT and high throughput. Low gas fees for NFT generation along with purchasing, minting, and vending NFTs make the platform much more efficient in the NFT space. 

Tokens over the platform are stored in ERC-20/TRC-20 smart NFT contracts as NFT tokens and the related data is permanently saved on the BTFS network. The respective NFT marketplace allows individuals to browse by collection, price, category, and crypto. Community members discuss and expand the contract features based on the voting and execute the same as per the majority rule. In addition to this, the platform also has storage facilities mainly equipped to house said art as APENFT deals with physical art.     

Minting and Buying NFTs on APENFT 

After knowing the core concept of APENFT, you must be interested in minting and buying the NFTs. Is minting an NFT the same as buying? Of Course not. Let’s understand the divergence by taking an example of APENFT.

Minting allows creators to tokenize the art piece and is a streamlined process. To do so, you need to create an account over the platform, hitting the ‘create’ button will help you transform your art pieces into tokens. As a pre-mint process, you need to upload files, fill in the essential details, and opt for the collection you want your NFT to belong to. Hitting the ‘Create’ button, paying the associated gas fee, and making the payment will help you finalize the minting.

You can also check the freshly prepared NFT in the ‘My NFTs’ section. If you are interested in buying any NFT collection on APENFT then you are on the right platform. 

What you need to do is to hit the ‘Explore’ or ‘Ranking’ option on the marketplace. Choosing the needed project, accessing the specifications, and hitting the ‘Buy Now’ option is all you need. A few things to consider here are post-wallet authentication and NFT price with minimal gas fees. The ‘Make Offer’ option will help you access NFTs available at offer, and purchased NFTs can be accessed under the ‘My NFTs’ section.       

How to Buy ApeNFT TOKEN? 

ApeNFT token is available on top cryptocurrency exchanges including OKX, KuCoin, HTX, DigiFinex, Bitrue, ByBit, etc, and can be purchased following a simple process.

Opening an account over the crypto trading platform of your choice and linking your bank account with the platform is all you need to do at the initial. Once the account is created, you can transfer the specific amount of fiat currency to your account. You can purchase the ApeNFT token using cash, a credit card, or an online payment system like PayPal.

Once your deposit is confirmed, you are all set to buy the NFT through your trading account. The next question that arises is, where to store the purchased tokens. The PTPWallet platform is one of the best options to select, as it supports many digital assets and can easily be used as an NFT wallet. You can also go with other wallets such as Math Wallet, Binance, Crex24, etc. for storing ApeNFT tokens.    

Conclusion 

APENFT platform works as a bridge between blockchain technology and artists, encouraging creativity and uplifting the worth of artworks. The platform holds a wide range of projects and allows individuals to mint and buy NFT. in addition to this, ApeNFT tokens can be purchased from top cryptocurrency exchanges including OKX, KuCoin, HTX, DigiFinex, Bitrue, and ByBit.   

FAQs

What is the current value of the APENFT token?

The current value of the APENFT token is $0.0000003378 and the total supply is 999,990,000,000,000 NFT.  

How to buy APENFT tokens using PayPal? 

US customers are able to purchase APENFT tokens using PayPal. Other users can use PayPal to cash out or sell.  

What is the use of the APENFT platform?

APENFT is used in transforming artists and artwork on-chain with a single click, adding new values to classic art pieces. 

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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