CoinWorld News Report:
Source: DAO BlockChain
Earlier this year or at the end of last year, the Bored Ape Yacht Club community announced that it would release its second-layer expansion, ApeChain. At that time, I shared this news in an article and believed that this move was an unavoidable way to boost the community’s popularity.
The Bored Ape, a former leader in the NFT ecosystem, was once considered a top luxury brand in the blockchain and even the entire metaverse ecosystem. In order to maintain its unattainable status, it has tried many strategies: releasing new NFTs, issuing tokens, and developing games (more than one)…
At that time, it seemed like it had done everything it could, following the path of IP and entertainment. However, it was unable to resist the stagnation of the entire crypto ecosystem, and these measures had little effect. The popularity continued to decline, and the value continued to diminish.
In addition, due to the lack of innovation in the application aspect of the crypto ecosystem itself, Bored Ape also did not take a unique path in terms of application.
As a result, the project eventually fell from its peak, affecting all of its assets. At its lowest point, Bored Ape NFTs were only worth a little over 10 Ethereum, and Mutant Ape NFTs were only worth a little over 2 Ethereum. The ApeCoin token fell to below $1.
Later, as Ethereum’s second-layer scaling technology gradually matured and became a tool for many projects to develop their own ecosystems, Bored Ape finally began to consider releasing its own second-layer expansion.
Now, ApeChain is finally online.
ApeChain’s website (https://apechain.hub.caldera.xyz/) is interesting. It clearly indicates that its data availability (DA) is based on Ethereum, the network uses Arbitrum One, and the Rollup technology stack uses Arbitrum Nitro. The entire system is built on the Arbitrum technology framework.
I remember when the community proposed building ApeChain, there were two opinions: one suggested starting from scratch and creating an L1-level main chain, and the other suggested building a second-layer extension based on the Ethereum network using an OP architecture.
Regarding this, the OP team expressed their willingness to support the project in building a second-layer extension based on their own technology stack on Twitter.
At that time, I hoped that the project would choose the second option, as it would keep its ecosystem within the Ethereum network as much as possible. This would not only benefit the Ethereum ecosystem, but also help maintain the project’s traffic.
Now it seems that the project has chosen the second option, but instead of choosing OP Stack, they have chosen Arbitrum’s Nitro architecture.
In fact, regardless of the technology chosen, as long as it can remain within the Ethereum ecosystem (such as becoming a second-layer extension as it is now), I believe it is the best solution for both the project and the users.
In addition to the official launch of ApeChain, the project has an interesting approach by directly launching its own MEME token sales platform: Ape Express, and explicitly stating that it is the Pump Fun on ApeChain.
Some well-known KOLs in the industry (such as Beeple) and media outlets (such as NFT NOW) have commented on Ape Express on Twitter.
Under the stimulation of this news, both Bored Ape NFTs and the project’s token Ape experienced a short-term price increase.
However, I still believe that these price increases driven by emotions are not likely to be sustained. In order for ApeChain to ultimately gain continuous valuable traffic and TVL, they still need to continue to innovate in terms of applications.
But doing something is better than doing nothing. Moreover, from the comments and attention on Twitter, Bored Ape still holds significant weight in the hearts of many old players. If the project can really launch some innovative and fun features, I believe the project’s popularity will quickly rise again.
During this period, as I watched one Ethereum second-layer extension after another emerge, although many of them did not seem innovative or outstanding, I can still feel the continuous accumulation of potential in the Ethereum ecosystem.
Perhaps when these seemingly “insignificant” or even “mediocre” second-layer extension ecosystems accumulate to a certain extent, the Ethereum ecosystem will experience a leap from quantitative changes to qualitative changes.
