Apecoin and Shiba Inu are some of crypto’s most popular meme coins, only surpassed by Dogecoin. Utility is key in crypto, and both memecoins are doing their best to add in new features and reasons beyond hype to hold their tokens. However, despite the popularity of Bored Ape Yacht Club NFTs and ApeCoin’s DAO, and the Shiba token and ecosystem, prices are stagnant. In contrast, Orbeon Protocol’s business model offers investors the chance to get in on early stage crypto projects using NFTs, and has recently sold out of its stage 1 presale with a 260% price increase.
Orbeon Protocol’s F-NFTs real world utility impresses investors
In the world of NFTs where PFPs currently remain the primary usage, Orbeon Protocol is bringing new utility, via the use of F-NFTs (fractionalised NFTs). Orbeon Protocol, a decentralized investment platform currently in presale, plans to use F-NFTs to represent funding in early stage web2 and web3 businesses. Retail investors will then be able to buy a stake in the companies, using a fractionalised NFT from as low as $1.
Orbeon Protocol is leveraging the use of smart contracts within its NFTs to provide greater safety to their community, by implementing a ‘Fill or Kill’ mechanism. This means that if a project or business fails to raise their total funding goal, the NFT holders will be automatically refunded.
Unlike Apecoin and Shiba Inu, whose prices have yet to make significant gains from their summer lows, Orbeon Protocol’s token ORBN is up by 260% in November, with predictions by analysts suggesting that the token could rise by a staggering 6000% once the token leaves the presale phase.
ApecoinDAO releases an NFT marketplace, but fails to make progress with the token price
ApeCoin was airdropped to holders of BAYC and Mutant BAYC NFT holders. At its peak, in April 22, Apecoin was worth $26, meaning that holders of the NFTs could have exchanged their tokens for approximately $300,000. Subsequently though, the price dropped due to lack of utility and is now trading at around $3.40.
In an effort to gain utility, Apecoin founded a DAO, and on 24th November released its non-fungible token (NFT) marketplace, where people can trade NFTs from Yuga labs collection with lower fees than marketplaces such as OpenSea and Rarible.
Whilst Apecoin fails to make significant gains, and NFT trading has slowed considerably, BAYC still holds value with a Bored Ape Yacht Club NFT selling for $927,000 worth of ETH last week.
Shiba Inu begins to add more utility to their token, resulting in small gains; more needed
Shiba Inu is the second most popular memecoin after dogecoin, and whilst Shiba Inu do not have the backing of industry leader Elon Musk, they have been busy building their ecosystem and trying to add utility to their token, offering staking of SHIB, LEASH and BONE. There is also a Shiba Inu game in the works.
Shiba Inu is now completely decentralised, and like Apecoin, is governed in part via a DAO. In a surprise move, according to a tweet by Kusama on the 22nd November, the WEF (World Economic Forum) would like to partner with Shiba Inu, to help shape global metaverse policy. A poll on twitter showed that SHIB fans support this.
Shiba Inu is also partnering with Amazon via their SHIBsuperstore, promising that a percentage of the affiliate profits will be burned, in order to boost price levels of SHIB.
Whilst its physically impossible for Shiba Inu to reach $1, as many of their community wish for (since this would require more money than exists in the world!) it’s clear that Shiba Inu and its army have realised that unless they focus on adding utility to their token, the memecoin is not going to prosper.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
Telegram: https://t.me/OrbeonProtocol