Snoop Dogg, who has been here and supports it, is one of the artists who joined the metaverse in the very early minutes of launching the NFT and metaverse domains. In the worlds of NFT and metaverse, he always has something fresh to offer. “Changed the game,” Snoop Dogg tweeted on March 20th. “Only 4 $APE holders for the inaugural All Ape mixtape.” He will release a mixtape for Ape token owners.
What is mixtape?
Snoop Dogg has published a collection of songs on the NFT marketplace OpenSea, as part of a marketing campaign centered on rights and remixes.
The first new song, “High,” is part of an NFT collection called “Dogg on it: Death Row Mixtape Vol. 1,” which consists of four separate audio files, each accompanied with a picture of a Bored Ape Yacht Club NFT. The first is a 420-token edition that includes the vocal track for “High” but not the instrumental track; the second is a 500-token edition that includes just the instrumental; the third is a 250-token edition that includes the instrumental and hook but not the verses, and the fourth is a 500-token edition that includes the entire song.
What is ApeCoin, exactly?
ApeCoin is an ERC-20 token, which is an Ethereum-based decentralized cryptocurrency. The bulk of Ethereum-based social tokens that have gained popularity in the recent year employs this method (think FWB, for the social club Friends with Benefits, and WRITE, for the Web 3 crowdfunding site Mirror).
Unlike NFTs, ApeCoins are designed to be “fungible” – that is, each ApeCoin should be worth the same as any other ApeCoin, and you should be able to buy and sell them freely on a decentralized exchange, which is a kind of digital trading post for cryptocurrencies.
Soon after its launch, the coin was listed on practically every major centralized crypto exchange. This was a big feat in of itself, given the notoriously picky attitude of crucial corporations like Coinbase (COIN). After just one day of trading, ApeCoin has a market value of almost $2 billion; one APE is now worth around $14, and the total number of tokens is restricted to one billion (not all of which is currently in circulation).