Avorak NFTs bring even more uses to AVRK, unlike BAYC and Apecoin
An important function in a cryptographic ecosystem is as a governance and utility token. Tokens’ use cases include allowing holders to participate in the DAO’s governance and giving them access to the ecosystem’s exclusive games, events, goods and services. However, the Avorak project is proud to offer accessible solutions such as chatbots, trading bots and AI image creation tools. Avorak NFTs have more real use cases than BAYC and Apecoin.
What is Apecoin?
The Bored Ape Yacht Club (BAYC) served as the foundation for the Bored Ape ecosystem, which includes the utility and governance token known as ApeCoin (APE). The Ape became one of the most famous NFTs during the peak of the 2021 NFT boom, with rare monkeys achieving prices in the hundreds of millions of dollars.
Athletes, musicians, and actresses purchased Bored Ape NFTs due to BAYC’s success in using them as their social media profile pictures, increasing their cult status as profile picture (PFP) NFTs. The APE Foundation introduced ApeCoin as an ERC-20 token on March 17, 2022.
What will Apecoin be used for?
ApeCoin use cases include allowing holders to participate in the DAO’s governance and giving them access to the ecosystem’s exclusive games, events, goods and services. ApeCoin is a Web3 coin that is functionally similar to any other. Since ApeCoin is a widely used ERC-20 token, it is technically recognized by most businesses. In addition, the coin is already used in the ecosystem for NFT rewards, and BAYC holders receive free APE from which they can immediately monetize.
ApeCoin can also be used by external developers to participate in the ecosystem and include the token in their services, games and other projects.
What is Avorak?
Avorak is an AI platform that uses blockchain technology to speed up human-driven activities and reduce time spent on trading and text generation. The project likes to offer user-friendly solutions such as AI trading bots, chatbots and tools for creating images with AI. All of them are backed by the native token, AVRK.
The utility features described in the attributed Avorak whitepaper are represented by AVRK, which is a transferable and tradable token.
Using cases of Avorak?
The AVRK utility token’s main application is a market-valued payment method and credit for entry into the Avorak AI ecosystem. Additionally, but not exclusively, there will be secondary use cases for: Receive additional AVRK token credits via a stake and “income feedback” scheme.
Through decentralized exchanges, incentives are used to provide liquidity. As the machine learning software transitions to a decentralized state and acts as its blockchain using a proof-of-learning validation scheme, future use cases will include AVRX as the “gas” token for the Avorak Network.
They aim to create breakthrough solutions using blockchain and AI technology to enhance user capabilities and experiences. It also wants to lead innovation in blockchain and AI. Avorak Labs’ expertise in software development, machine learning and blockchain technology enables them to create solutions that connect traditional banking and cutting-edge research.
Trading automation
Numerous trading APIs and robots are built to work with specific asset classes or exchanges. Some require code-based command entry, making it difficult for non-power users to use them, and some require a more adequate level of security, as demonstrated by recent API key leaks.
Text generation
Internet scraping is a standard method used by text-generating AI to generate words or obtain data about a topic. One of the main disadvantages is the potential for copying or plagiarism with this technology. Avorak AI will include internet scraping with a pre-written language bank, integrate plagiarism detection APIs and combine all these techniques to automatically edit and update content before it is displayed to the user. This will ensure that the use of Avorak AI is ethical and free of plagiarism.
The bottom line
The emergence of non-fungible tokens took the digital world at large by storm immediately after its inception. Avarok AI changes the game by bringing a different flavor that augments cryptography, blockchain technology, AI and Non-Fungible Tokens (NFT). There is no other project in the area that is oriented in a similar trajectory as Avorak AI, which makes the project quite unique and a potential market mover
For more information about Avorak AI:
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