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An explanation: What are the ApeSwap NFAs?

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1,000 Non Fungible Apes with different rarities and prices

ApeSwap Finance is dipping its toes in the NFT space by introducing Non Fungible Apes, or NFAs. These are 1,000 unique generated ape NFTs that aren’t only scarce, but owners can use them on the ApeSwap platform as well. 

NFA holders can use their NFT as a profile picture on ApeSwap. In addition, they may receive benefits in the future, ranging from airdrops to early access to new features. Details about the utility features of Non Fungible Apes aren’t set in stone yet. The team asks the community for suggestions to add more utility to their apes.

Originally Non Fungible Apes were technically based on CryptoPunks. However, the team has updated the smart contract to make them compatible with modern NFT marketplaces. 

So what are these NFAs?

Non Fungible Apes are 1,000 uniquely generated digital apes on the blockchain. Each of the apes is created by combining six characteristics: base, face, frame, mouth, eyes, and top. 

Non Fungible Apes (2021, ApeSwap)

There are different versions of each characteristic, making some features rarer than others. For example, 32 apes have laser eyes, while more than 100 have sunglasses. Based on these features, the apes get a score that determines their tier. 

Out of the 1,000 apes, half will be Common Chimps, and a quarter will be Original Orangutans. Only 150 will be so-called Alluring Apes, 70 Prime Primates, and only 30 Magic Monkey. Obviously, the Magic Monkey tier is the rarest category. See more details about the rarity of Non Fungible Apes on Github.

NFT collectibles and more utility

There’s a lot of hype going around in the NFT space for digital collectibles. CryptoPunks on the Ethereum blockchain is among the most valuable NFT collectibles. Over the past 30 days, 1,326 punks switched hands for an average price of $67,481 per punk. In a completely different price category, NBA Top Shot has seen 1,2 million sold NFTs on its marketplace, good for a combined volume of $178 million in the past 30 days. 

It’s safe to say that NFTs come in all kinds of shapes and sizes. We’re also seeing developers adding more utility to NFTs by integrating them into DeFi projects. Aavegotchi on the Polygon blockchain has become a top 10 dapp with 23,000 sales and $9,2 million in volume, by combining NFTs with DeFi and gaming. Alien Worlds combines gaming with DeFi and NFTs as well. 

In a similar fashion ApeSwap is working on providing more utility to Non Fungible Apes as well. They want to integrate functionality and benefits for NFA holders over time, creating real use-cases for their digital collectibles.

What is ApeSwap?

ApeSwap is an automated market maker (AMM), yield farming, and staking platform on Binance Smart Chain. While ApeSwap is a PancakeSwap fork, retaining much of the same usability, the team has been hard at work adding enhanced stand-out features to their platform. BANANA is the native currency of the ApeSwap platform and allows users to stake, pool, and earn more BANANA tokens with an APY of up to 600%. Read more about ApeSwap

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