Does APENFT (NFT) have any prospects?

Many NFT-related crypto projects are following the path of the non-interchangeable token market. The APENFT token is one of them.

What is APENFT?

APENFT is an NFT marketplace launched in May 2021 at the peak of interest in non-mutualizable tokens. The eponymous token with the ticker NFT is the marketplace management token.

The project's ambitions, however, are not limited to operating as an NFT marketplace. The developers intend to "unite the worlds of real and digital art." The stated measures to accomplish this are:

Investing in major NFT marketplaces.
Acquiring and tokenizing real and digital artworks.
Sponsoring art galleries.
Hosting exhibitions.
Sponsorship of up-and-coming NFT artists.
Launching NFT collections featuring both real and digital works.
Lobbying and promoting the NFT market as a whole.

You have to hand it to the APENFT team — they have at least tried to make most of these points a reality. It even became a reason for regular criticism — far from always, the connection between the subsequent investment and APENFT was evident, not to mention the justification of costs.

NFT token

APENFT (NFT) is a DAO APENFT management token issued on Tron and Ethereum blockchains.

The token is used to vote on a wide range of issues, from decisions on investing in NFT platforms to including individual NFTs in this or that new collection. In addition, token holders receive bonuses depending on the number of NFTs on their balance.

The total number of APENFT tokens issued is a whopping 999 trillion. That, however, also means their low value — the initial price at issuance was $0.00000012, and the price at the time of listing on exchanges was $0.00000534.

It should also be noted the extremely aggressive airdrop campaign, with the help of which the team sought to stimulate activity and provoke hype around the token. The initial airdrop was allocated 19% of the total number of tokens. The tokens were distributed among the holders of the largest cryptocurrencies. Not all "airdrop participants" were aware of their participation and were surprised to find tens of millions of NFT in their wallets (issuing 60+ million tokens to one user was a normal phenomenon). There were even fears in some communities that the NFT airdrop was an attack on wallets.

Overall, the distribution of APENFT tokens is as follows:

30% — allocated to the project's artist partners
19% — airdrop
19% — team
20% — allocated for the purchase of artworks under NFT
10% — allocated to partnerships
2% — allocated to securing listings.

It is somewhat difficult to talk about the full-fledged decentralization of ecosystem management with such a distribution of tokens.

As of January 1, 2025, APENFT is trading around $0.00000055. After listing on major exchanges in May 2021, the token has lost more than 87% of its price. The historical high of $0.000005741 was reached on September 5, 2021.

APENFT's capitalization as of early January 2025 is $546 million. According to this indicator, the token is ranked 153rd in the CoinMarketCap ranking. At the same time, the daily trading volume for such capitalization is relatively low — about $24 million. For comparison, the daily trading volume of Morpho (ranked 152nd in the capitalization ranking) is over 70 million, and Baby Doge Coin (ranked 154th) is over 68 million.

APENFT investment outlook

For more than three years (since December 2021), the price of APENFT has been significantly below its value at the start of trading on major crypto exchanges. The asset has not demonstrated any attempts to recover the rate. There are also no grounds for any significant growth in the foreseeable future.

Of course, if the NFT market starts a new "boom", we should expect a rapid growth of APENFT — the correlation between the state of the market of non-replaceable tokens and the rate of this asset is apparent. But there is no reason to expect such a boom yet — we are only discussing a possible "finding the bottom" and stopping the market decline.