NFTs, or non-fungible tokens, are frequently constructed using the same programming language as cryptocurrencies. They cannot be replaced or exchanged in the same way that other cryptographic assets may. NFTs have recently developed as one of the most important digital assets online, expanding into social networking sites and the entertainment industry. You’ve undoubtedly come across an NFT while surfing the web.
Several blockchain networks hope to capitalise on the success of NFTs to increase their appeal and prosperity. As we are currently in a bear market, people have questioned the viability of not only cryptocurrencies but also NFT marketplaces. None, however, use NFTs in their networks like Big Eyes Coin (BIG) and ApeCoin (APE) do. This post will explain how these two blockchain networks differ while reviewing the success of their NFT marketplaces.
Enter The NFT Sushi Crew With Big Eyes Coin
Big Eyes Coin (BIG) is a meme coin that emerged in 2022 to transfer wealth into the decentralised ecosystem while also preserving the ocean, which is a vital component of the world’s ecology. One of the primary objectives of blockchain networks is to bring money into the decentralised financial ecosystem. It also hopes to conserve the seas by developing a charity wallet in which 5% of the entire supply is given to ocean reserves. Its long-term viability relies on its usage of the Ethereum blockchain, which recently transitioned from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus process.
Big Eyes Coin (BIG) believes that community tokens create wealth and intends to contribute more to crypto by establishing a network that self-promotes hypergrowth through the use of NFTs to offer access to events and content. BIG coin aspires to have its NFT collection rank among the top ten, giving users an incentive by putting all NFT prizes into a burn or not burn vote. ‘NFT Sushi Crew’ is the name of the network’s NFT marketplace.
This is an exclusive club for NFT holders who want to own “excellent stuff, engage in fun activities, and eat fish.” Japanese culture has impacted it. Furthermore, Big Eyes Coin intends to stage NFT events regularly, allowing token holders to participate in all events throughout the year.
A BAYC Sells For Nearly $1 Million
ApeCoin (APE) is a prominent cryptocurrency on the market. The blockchain network is an ERC-20 governance and utility token that is used inside the APE Ecosystem to enable and incentivize the growth of a decentralised community on the cutting edge of web3. The ApeCoin community, which is administered by the ApeCoin DAO, a decentralised governance structure that supports the Ecosystem Fund, is one of its primary characteristics. Through a proposal process, the DAO decides how the APE Foundation’s Ecosystem Fund will be distributed to foster a diverse and self-sustaining ecosystem.
Yuga Labs, a $4 billion firm best known for its quirky and colourful Bored Ape Yacht Club (BAYC) NFTs, established the blockchain network. The ApeCoin-powered Bored Ape Yacht Club is a private membership project available to all Bored Ape Yacht Club NFT owners. On the secondary market this morning, Bored Ape Yacht Club NFT #232 sold for 800 ETH, or around $927,000. Many Bored Ape NFTs have lost significant value in recent months, including one acquired early this year for $1.3 million in ETH that is now only worth roughly $69,000. However, this gold-furred Ape is one of the rarest avatars, ranking 324th out of 10,000 NFTs according to Rarity Tools statistics.
Despite the bear market, NFT marketplaces remain relevant in the crypto sphere, providing outlets where users can trade, share and distribute their digital artworks. Big Eyes Coin’s NFT Sushi Crew promises to give users with adorable cat avatars, while ApeCoin’s BAYC remains popular on social media sites and among celebrities.
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