Are Mushe (XMU) and ApeCoin (APE) the Best NFT Projects on Ethereum (ETH)?
The NFT space is intertwined with layer-1 blockchain protocols. The Bored Ape Yacht Club is an NFT collection built on Ethereum.
This is just one example as there are hundreds more built on the blockchain. Other competing blockchain networks such as Solana, Avalanche, and more have NFT projects building on them.
Mushe (XMU), still in the presale stage, is built on Ethereum and planning to migrate to the Stellar network. It also wants to add a multi-chain feature that will support Solana. ApeCoin, the cryptocurrency associated with the Bored Ape Yacht Club NFT collection, is based on Ethereum and has considered moving to another blockchain.
ApeCoin and the Bored Ape Yacht Club
So many people are still trying to understand what NFTs are yet they may have heard about the Bored Ape Yacht Club or just Bored Ape. This is a collection of 10,000 unique apes generated on the Ethereum blockchain. This NFT collection has become a hit with celebrities.
There are many reasons why it has become a hit. You could argue that it is great marketing or timing. It could be both. However, it is much more.
The Bored Ape collection offers holders access to an exclusive club called the Bored Apes Yacht Club. It is also used as a membership card and members-only benefits to the holders. In short, it’s exclusivity and being part of a small group of NFT holders that are the envy of many.
This is much more similar to traditional art. People pay huge sums of money for traditional art because of their love for it or emotional response to it.
Art is also a form of investment. People buy art because it usually rises in value since it is unique.
NFTs and Bored Apes have done a great job in bridging the gap between traditional art and blockchain. The Bored Ape collection can be regarded by many as a great investment that offers holders membership rights to an exclusive community.
The creators behind Bored…