What is APENFT?

APENFT is a platform based on blockchain technology, officially registered in Singapore on March 29, 2021. It strives to bridge the gap between notable artists and the NFT (Non-Fungible Token) world. APENFT's core activities involve participation in prominent NFT platforms and artworks, incubating NFT artists, sponsoring galleries, organizing art exhibitions or publications, and setting up awards to support art creation and criticism. By applying blockchain technology to the NFT world, APENFT aims to expand the use cases of blockchain, improve the NFT trading standard, and foster the healthy development of the industry.

How does APENFT work?

APENFT operates by acquiring well-known traditional and NFT artworks as underlying resources. It utilizes blockchain technology to map the digital content of any art piece onto blockchains to form unique digital collectibles. In this case, NFT is the digital entity of the content, which effectively facilitates the transfer of digital content. Information relating to an artwork such as its source, key details, delivery process, and transaction history will be digitalized and stored in the blockchain-based trading system. Once it is done, all the information will be immutable and unforgeable, which can effectively prevent counterfeit artworks and frauds.

What are the potential use cases for APENFT?

APENFT has several potential use cases in the blockchain industry. It fits in all three major use cases in the blockchain industry, namely value exchange, collaboration, and record-keeping. It aims to introduce blockchain into diverse use cases by leveraging its strengths in technology, market, industry, and policy research. APENFT also aims to foster the development of native crypto NFT artists and to keep discovering NFT artists around the world. It strives to register notable artworks as NFTs on-chain and to build a bridge between top-notch artists and blockchain.

What is the history of APENFT?

APENFT was officially registered in Singapore on March 29, 2021. It was established to meet opportunities and address pain points in the industry. The rise of NFT is a prime example of the integration between blockchain and art, attracting unprecedented public attention. In 2020, the overall trading value of NFT tripled, reaching $250 million. In March 2021 alone, the total sales of NFT surpassed $220 million. It is predicted that in the next decade, 50% of the top 100 artists and artworks in the world will be registered as NFTs. The establishment of APENFT marks a new phase where traditional artworks are integrated with crypto technology.