ApeSwap contributes to battling COVID in India with a 36-hour auction in partnership with NFT Key. The auction, along with an NFA raffle, will begin on the 22nd of May, 2021.
ApeSwap is set to launch a 36-hour auction for three special Non-fungible Tokens (NFTs), including a raffle for a tier 4 NFA. The auction is in conjunction with NFT Key to fight against COVID, and it will begin on the 22nd of May 2021 at 13:00 UTC. The decentralized exchange (DEX) announced the new development on Twitter.
This development was brought up when an undisclosed party came with a proposition to ApeSwap. As per reports, the request was for ApeSwap to create a special edition NFT to support covid relief in India. There was a catch — 2 NFA’s donated by ApeSwap. However, what are NFAs?
ApeSwap NFAs Explained
Non-fungible apes (NFAs) are NFTs of ApeSwap’s DEX. They are designed with unique characteristics and configurations. While most apes are very easy to find, others are rare. They are grouped into five tiers:
Tier 1: Common Chimps (500 NFAs)
Tier 2: Original Orangutans (250 NFAs)
Tier 3: Alluring Apes (150 NFAs)
Tier 4: Prime Primates (70 NFAs)
Tier 5: Magic Monkeys (30 NFAs)
Of all the tiers listed above, Tier 1 NFAs are very easy to find, while tier 5 NFAs are rare.
ApeSwap’s NFT market of NFAs has gained traction since its inception. The platform just recently ended the sale of its fifth NFAs.
Why COVID Relief NFTs in India?
Reports have it that India is the nation with the highest number of COVID cases. The country registers new cases of the dreadful pandemic daily. In addition, many are dying, and more are struggling to keep up.
However, India is a leading banana-export nation. The country exports physical bananas with an annual output of 14.2 million tonnes. To support the nation, ApeSwap has created a particular auction featuring 3 NFTs, and all proceeds generated from the auction will move to India’s COVID relief fund.
Participation and Details of Auction
As stated above, the auction will run for 36 hours and will begin on the 22nd of May, 2021, featuring three special NFTs — Golden banana, Silver banana, and Bronze banana. Like its NFA collections, they will be hosted on NFT Key, which has willingly given its platform to support this initiative.
To participate, users will visit nftkey.app/collections/apestrong/ and make their donations via auction. As per the NFA raffle, users will have to connect their wallets and make donations (with BNB) to be in the raffle draw to win a Tier 4 NFA — Prime Primates.
ApeSwap is a decentralized exchange, Automated Market Maker (AMM), Yield farming, and Staking platform on the Binance Smart Chain (BSC). The platform is built for the benefit of its users with many unique features that allows them to earn tokens.
The COVID relief auction is for a good cause, which is to fight against the damage caused by the dreadful pandemic in India. It is welcomed by a lot of individuals worldwide. Hopefully, it will help suppress the impact of the pandemic in India. ApeSwap is not only creating a platform for yield generation, but it is also contributing to charity and society.
Source : bsc.news
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