What major moves has APENFT, the dark horse in the NFT track, made in the first half of 2021?

In the first half of 2021, the NFT (non-fungible token) industry has achieved unprecedented development. With the maturity of major blockchain infrastructure and the deepening of public exposure to and understanding of NFT, NFT platforms and projects are becoming a new investment outlet.

Driven by record-breaking prices for works by artists such as Beeple, more and more funds are flowing into the NFT field, encouraging and supporting the development of related companies and projects. Among them, the APENFT Foundation, which is known as the dark horse in the NFT track, seems to have made a lot of big moves with the support of Justin Sun and TRON.

On May 20, APENFT launched the governance token NFT as the only token officially released by APENFT. NFT token holders can participate in the governance of the APENFT system by holding NFT tokens. On the same day, NFT was launched on Huobi Prime, and the highest increase on the day of launch was 120 times. Subsequently, NFT was launched on well-known digital currency trading platforms such as P.net.

On July 16, the APENFT Foundation announced on its official Twitter that it had completed the destruction of 1,030,067,282,396.0035 NFTs worth US$2.52 million in accordance with the community voting resolution of its official governance platform.

(Figure 1: Screenshot of Twitter showing NFT completed destruction)

It is reported that the destruction plan stems from the successful auction of Andy Warhol's "Three Self-Portraits" NFT. On June 27, "Three Self-Portraits" was sold to an anonymous buyer at the first Binance NFT auction in the "NFT+Entity" mode for 2.8 million BUSD (about 2.8 million US dollars). After deducting a 10% transaction fee, APENFT's final income was 2.52 million BUSD (about 2.52 million US dollars).

Subsequently, APENFT officials stated that they intended to use all the funds to repurchase NFTs and destroy them. On July 7, the APENFT Foundation initiated a relevant community vote on its official website, and the proposal was finally passed on July 10. According to the repurchase plan, a total of 1,030,067,282,396.0035 NFTs were repurchased and transferred to the destruction address T9yD14Nj9j7xAB4dbGeiX9h8unkKLxmGkn. The transaction record is: https://tronscan.io/#/transaction/d90b4be8df77655acf788ae9909883e3f0bd941a5b0a1c1625f14f116732d97e

In addition, the APENFT Foundation has also completed innovative events such as the NFTization of well-known paintings such as "Three Self-Portraits". It can be seen that APENFT has completed many milestone events in the first half of this year. In the second half of the year, what other big moves will APENFT make? Let's wait and see.

(Figure 2: APENFT community giving back to the community)

APENFT was established on March 29, 2021. It is a foundation dedicated to NFT and blockchainization of the world's top artworks, supported by the underlying technologies of Ethereum and TRON, the world's largest distributed data storage system, BitTorrent File System (BTFS). Since its establishment, the foundation has reached in-depth cooperation with the well-known NFT writer Beeple and the three major NFT auction platforms, Christie's, Sotheby's, and Nifty Gateway, and has formed a complete market foundation relying on the basic users of the world's two major public chains.