APENFT, what is its purpose, its objective? APENFT was born with the mission to register world-class artworks as NFTs on blockchain.
APENFT, the objective, to make the works of art accessible to everyone.
Art is the wealth of mankind, yet it is often in the hands of a few. To ensure equal access to artworks, we need a better trading system and the innovation of technology.
The unprecedented marriage between blockchain and artworks, where NFT technology is a prime representative, is reshaping the art world, making artworks accessible again for all.
The growing market economy has pushed up people’s demand for artworks and many of them are already collecting artworks. However, the intrinsic drawbacks with the traditional trading market remain unresolved and have thus caused great difficulty or the masses who wish to trade artworks.
The advent and advances of blockchain technology addresses the most important issue in human history—trust in equivalent exchanges, thanks to its many advantages
such as “decentralized” data storage, open and transparent information that cannot be tampered with, data security, and low cost, etc.
The application of blockchain technology in the artwork market is giving birth to a digital revolution in art.
First, the sharing mechanism of the digital economy is integrated into the artwork market. Blockchain technology is able to give a second life to artworks in the digital world. This is achieved by mapping the digital content of any art piece onto blockchains to form unique digital collectibles of asset nature. In this case, NFT is the asset entity of the digital content, which effectively enables value exchange of digital content, extending the benefits with a wider population, and liberating both the productive forces and the relations of production in the art industry.
Second, an art market based on trust among machines is established. Information relating to an artwork such as its source, key details, delivery process and transaction
history will be digitalized and stored in the blockchain-based trading system. Once it is done, all the information will be immutable and unforgeable, which can effectively
prevent counterfeit artworks and frauds. Underpinned by trust, the art market is more secure, offering benefits to collectors and other stakeholders from art museums,
galleries, and auction houses.
Third, a transparent and open trading system is created. Blockchain data is visible to users world-wide and accessible to central management systems and database catalogs. Every user is the witness to transactions, which ensures high transparency in the system. Therefore, the art market will be fairer and ever more robust, attracting more artists, collectors, investors, dealers, and major art institutions.
The rise of NFT is a great example of the marriage between blockchain and art, attracting unprecedented public attention. In NFT news, there are more and more projects to be featured, the market is booming.
For the foreseeable future, the NFT boom will will continue to grow and transform the way concepts and values are exchanged between the blockchain and the real world.
By 2020, the overall commercial value of NFTs has tripled to $250 million. On March 2021, total NFT sales exceeded $220 million. It is expected that within the next decade, 50% of the world’s top 100 artists and artworks will be registered as NFTs.
APENFT (NFT), official token:
NFT, as the sole token issued by APENFT, is the governance token for the APENFT ecosystem. NFT holders participate in the governance of APENFT by holding NFT tokens.
Allocation of NFT
– Token name: NFT
– Underlying blockchain: TRON
– Protocol standard: ERC20/TRC20
– Issuance date: May 20, 2021
– Issuance platforms: Leading crypto exchanges such as Huobi
– Planned total supply: 999,990,000,000,000 NFT
– Initial issuing price: 0.00000012 USD
– Token allocation: artist partners, 30%; DeFi airdrop and mining, 19%; NFT
Team, 19%; initial exchange listing, 2%; NFT works purchase, 20%; and partnerships, 10%