Who issued the APX (APX) currency?

APX, the utility token for the Animoca Brands platform, facilitates staking, governance, exclusive content access, and game asset purchases within the blockchain gaming and metaverse ecosystem.

Dec 23, 2024 at 12:25 pm

The Issuer of the APX Token (APX)

Key Points:

• APX is a utility token issued by the Animoca Brands platform.
• Animoca Brands is a leading company in the blockchain gaming and metaverse industries.
• APX is primarily used for specific utilities within the platform's ecosystem, including staking, governance, and accessing exclusive content.

History and Background

• Animoca Brands was founded in 2014 and has since become a major player in the blockchain gaming and metaverse space.
• The company has developed a range of popular blockchain games and metaverse platforms, including The Sandbox, Axie Infinity, and REVV Motorsport.
• APX was launched in 2020 to serve as the native utility token for the Animoca Brands ecosystem.

Functionality of APX Token

• APX can be staked to earn rewards and participate in governance proposals within the Animoca Brands ecosystem.
• Staking APX allows users to earn yield on their tokens and contribute to the security and decentralization of the platform.
• APX is also used to purchase in-game assets, access exclusive content, and participate in virtual events within the Animoca Brands ecosystem.

Token Allocation and Distribution

• The total supply of APX is capped at 10 billion tokens.
• Approximately 2.5 billion APX tokens were initially distributed during an initial exchange offering (IEO) in 2020.
• The remaining tokens are allocated to various stakeholders, including the Animoca Brands team, ecosystem partners, and strategic investors.

Market Value and Trading

• APX is currently ranked among the top 100 cryptocurrencies by market capitalization.
• The token is actively traded on major cryptocurrency exchanges, including Binance, Huobi, and OKEx.
• The price of APX is influenced by various factors, such as market sentiment, platform adoption, and overall cryptocurrency market conditions.

FAQs

What is the use case of APX?

APX is primarily used for the following purposes:

• Staking to earn rewards and participate in governance
• Purchasing in-game assets and accessing exclusive content
• Funding development initiatives within the Animoca Brands ecosystem

Who accepts APX?

APX is accepted within the Animoca Brands ecosystem, including games, metaverses, and other platforms.

How can I purchase APX?

APX can be purchased on major cryptocurrency exchanges, including Binance, Huobi, and OKEx.

What is the future outlook for APX?

The future outlook for APX is positive, given the strong growth of the Animoca Brands ecosystem and the increasing adoption of blockchain gaming and metaverses.

Where can I find more information about APX?

More information about APX can be found on the official Animoca Brands website (animocabrands.com) and the APX tokenomics page (apx.animocabrands.com).