“Ape in” usually refers to people who rush into buying a new NFT or coin without doing much due diligence or research. It originated through the “apes together strong” meme. It is, however, always advised not to ape in any projects without having proper research.
Ape In Meaning in NFT
If you’re scratching your head and don’t know some (if not all) of the abbreviations/terms used to discuss NFTs, then congrats! This is the place to go. NFT is currently a very trendy topic on the internet (especially on Twitter). Ape In in NFT means rushing into a project with full passion and excitement!
These relatively new terms and abbreviations will be explained here. ‘Ape In’, for example, is one of numerous NFT terminologies that many enthusiasts are unfamiliar with. Below, the term “Ape In” is defined as well as discussed as to how and why it is used.
NFT for Dummies
Before we get into what the Ape In thing is all about, there are a few things you should know about NFTs, or Non-fungible Tokens. We’ll go over the very minimum you will need to understand everything.
NFTs are blockchain-based cryptographic tokens. A blockchain is a public ledger of unchangeable transactions. Most blockchains are distributed, meaning that various entities own and control them.
A “token” is a unique sequence of integers that can be allotted to a “wallet” managed by someone on a blockchain.
Because they are all unique in a sense, NFTs are not fungible. You can’t replace it with another identical item or currency. For comparison, you can exchange a $1 bill with any other dollar bill and it will retain its value. Chickens <3, gold, and money are all fungible. Keep in mind that you can buy and sell NFTs in US dollars, Bitcoin, or Ethereum.