HomeAltcoin NewsBlock Ape Scissors Works to Give More Purpose to NFTs

Block Ape Scissors Works to Give More Purpose to NFTs

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A new cryptocurrency company has stepped into the limelight. Known as Block Ape Scissors, the firm seeks to ensure that all crypto investors garner value for their assets, even when they seem less legit than so many others.

Block Ape Scissors Tries to Give NFTs More Exposure and Use

The company’s founder Matthew Hutchins has stated in an interview that he hopes Block Ape Scissors can become a truly unique cryptocurrency ecosystem that will allow people to have some fun with their assets. The firm is expected to integrate non-fungible tokens (NFTs) into what’s known as a “play-to-earn” system. Through the company, traders who invest in these tokens will ultimately own a small piece of a decentralized firm and take in part of its revenue for themselves.

Hutchins explains:

Owners assist us with shaping the future of our project. The farming implementation takes the best of defi 1.0 and augments the play-to-earn model over the top with a gaming engine to grind out rewards. Fees earned by the platform go to farming and staking pools for BAS holders to earn coins and BAS for their efforts. NFTs can be applied both in-game and on the farms to boost value and give players edges in certain situations.

Block Ape Scissors is trying to ensure that all crypto owners receive rewards for the assets they hold. Hutchins says that over the years, many traders have been subconsciously convinced that HODLing is the way to go, but this isn’t always the case. In fact, he suggests that HODLing can sometimes result in individuals losing out on profits.

Working Its Way into Several Industries

Through the firm, NFTs will wind up getting a lot more exposure and attention from crypto investors. The company hopes that these assets will have stronger use cases through its recently developed value-driven applications. Hutchins says:

We aim to give the NFTs we generate intrinsic value through their rarity and purpose, which will drive secondary and tertiary markets for those that have spent hours working to earn them. Our ecosystem is also designed to eliminate the sell pressure from the model. With the Block Ape Scissors token, users have access to all aspects of the platform for utility such as in-game bonuses, assets, and specific entries for VIP tournaments. The biggest takeaway in all of this is that Block Ape Scissors will create one big community of token owners from sh*tcoins, dead coins, meme coins, altcoins and rugs that have no utility other than what we have now enabled through Block Ape Scissors.

The platform claims to have several “high-profile” partnerships in development as a means of expanding its presence into several regions of the entertainment and gaming industries. In addition, Block Ape Scissors says it has partnered with several YouTubers and Twitch streamers that possess online gaming channels.

Nick Marinoff
Nick Marinoffhttps://www.livebitcoinnews.com/
Nick Marinoff is currently a lead news writer and editor for Money & Tech, a San Francisco-based broadcasting station that reports on all things digital currency-related. He has also written for a number of other online and print publications including Black Impact Magazine, EKT Interactive, Seal Beach USA and Benzinga.com, to name a few. He has recently published his first e-book "Take a 'Loan' Off Your Shoulders: 14 Simple Tricks for Graduating Debt Free" now available on Amazon. He is excited about the potential digital currency offers, particularly its ability to finance unbanked populations and bring nations together financially.

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