Since the invention of NFTs, the market has mostly been unaffected by alternative environments like DeFi. While the NFT market continues to see strong trade activity, the entire market could implode. 2020 saw the beginning of the NFT market’s volume growth, which was fueled by reports of astronomical NFT sales. A digital artist, Beeple, sold an NFT for $69 million, and most NFT enthusiasts refer to that as the start of the NFT bull run.
People became more interested in NFTs, the number of transactions per day went up, and new NFT projects came about. One of these projects is the Bored Ape Yacht Club, which is a PFP collection of 10,000 unique pieces of art that have been traded more than $2 billion times. Early in 2022, the NFT collection was at the top of the market. Its floor price reached 150 ETH, which was an all-time high at the time.
The NFT project team recognized the need to grow the brand and provide value to its audience, therefore ApeCoin was created (APE). The community is encouraged to use ApeCoin as a utility token, which will come in handy in the upcoming updates from the parent company.
Since Big Eyes Coin (BIG) is a brand-new meme coin that intends to eventually publish an NFT collection, it will be modeling its strategy after this model. It’s already clear that Big Eyes Coin will dominate the DeFi market when it launches, but it would be much more interesting to see the cat-themed coin expand its appeal to NFTs.
ApeCoin is a token made to help the evolution of art
Yuga Labs made ApeCoin (APE), which is a utility token on the Ethereum blockchain. It is used in the APE ecosystem. The Bored Ape Yacht Club, the Mutant Ape Yacht Club, the Bored Ape Kennel Club, and the Otherdeed for Otherside collections are all part of the APE ecosystem. Even though Yuga Labs is the parent brand for other NFT collections like CryptoPunks, Meebits, etc., ApeCoin was only made for the APE communities.
ApeCoin came out in the first quarter of 2022, which was a bad time for the cryptocurrency market. However, it was one of the best-performing coins, along with STEPN (GMT). As of August 2022, the market cap of the cryptocurrency is over $1 billion, and it still has a lot of value.
ApeCoin is technically accepted by most businesses because it is an ERC-20 token that is used by a lot of people. ApeCoin (APE) use cases let people take part in running the DAO and give them access to exclusive games, events, goods, and services in the ecosystem.
Big Eyes Coin (BIG) is a new meme coin that aims to make money for its community by putting DeFi and NFTs to use. Big Eyes is a cat-themed meme coin that wants to change the way crypto memes look. Big Eyes will be able to do this by using some marketing techniques to get as many influencers as possible to help spread the cat meme story.
Dog meme coins like Dogecoin (DOGE) and Shiba Inu will compete with Big Eyes. Even though DOGE and SHIB are at the top of the meme coin league, Big Eyes appears to have a great chance of matching their rate of growth. As a result, the meta for meme coins will alter. Although Big Eyes intends to develop a DeFi-derived NFT collection, ApeCoin is an NFT-derived token. Because of the enormous daily trading volume on NFT platforms, BIG offers its members a lot of chances to prosper.
Depending on the direction the community takes the project, Big Eyes will host ancillary activities like events, contests, social media challenges, DeFi education, charity, etc. It appears to be among the most exciting initiatives the bitcoin world has seen recently. This is the earliest you can get because it is presently on presale. It might be a prospective buyer who would benefit greatly.