Today we are going to introduce you to a new cryptocurrency project that only recently entered the market, called Grape. The $GRAPE token deployed on the Binance Smart Chain (BNB) is part of the Web3 social network and will be launched later this year.
This article will dive deep to understand the much-hyped Grape project in more detail, and will also look into its native cryptocurrency $GRAPE. The purpose of this article is to find out whether GRAPE is real or fake.
So, let’s get started.
What is Grape?
Grape is a Web3-integrated social media network intended for all crypto communities.
The project debuted as a non-fungible token (NFT) collection called “The Grapes” which consisted of 3,333 unique items associated with gaming, animated series, merchandise, and licensing that dropped in May 2023.
The platform built on the Binance Smart Chain is split into two parts: a community forum and the Coin Grape, which is an information board room where users can have live chats with each other.
As is the case with any social network platform, Grape generates revenue through advertising, listings, account upgrades, etcetera. So far, the platform has launched five games and they use advertising, in-app purchases, subscriptions, and secondary royalties to raise capital.
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What is $GRAPE Token?
$GRAPE, the native token of the Web3 social networking platform, is the central pillar of the Grape ecosystems. As the governance and utility token of the platform, GRAPE serves multiple purposes, like allowing token holders to access games, events, merchandise, and other exclusive services.
GRAPE holders get the opportunity to upgrade their accounts, giving them perks like OpenSea NFT integration, access to listed tokens and NFTs on the Grapes ecosystem, lowered fees for swapping tokens in Coin Spaces, live portfolio and rewards tracker, and so much more.
$GRAPE Tokenomics
$GRAPE has a total supply of 2 billion tokens. Out of which, 40% will be distributed through Airdrop and Rewards to the Grapes community and holders, 24% is allocated to the Grapes Foundation, 7% to liquidity partners, 18% to the founders and development team, 4% to the seed and private vault, and 7% have been designated for the token’s pre-sale.
The fully diluted valuation of GRAPES, which is priced at $0.0225, is $45 million. The token is expected to be listed in top centralized and decentralized exchanges in 2024.
Is GRAPE Real or A Scam?
Since Grape is a relatively up-and-coming project, there is not much information to share about its performance. The platform seeks to be a social networking platform designed for all Web3 users where members of any crypto community can take part and play games to win prizes.
The project’s GRAPES NFT collection seems to have caught the attention of digital collectible enthusiasts. The platform has also secured collaborations with big labels in the gaming industry like Roblox and Fortnite, which adds more value to the Grapes ecosystem.
Moreover, the project is also backed by Animoca Brands, a famous venture capitalist that is known for backing Web3 projects.
All things considered, I can say that Grapes is a legitimate crypto project with high aspirations. The all-in-one Web3 social networking and gaming platform is preparing to launch its native token $GRAPE on 10 of the leading crypto exchanges.
The token also provides several perks to holders, like exclusive access to ad-free content, games, and staking and affiliate programs.
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Conclusion
As is the case with any crypto project, it is important to note that cryptocurrencies are highly volatile and can experience violent price fluctuations. Therefore it is crucial to do due diligence before deciding to invest in $GRAPE or any other crypto for the matter.
Only invest money that you can afford to lose. This article should not be taken as investor advice. The topics discussed in this article are solely for reference purposes.
