The crypto space is expanding rapidly, with new projects seemingly popping up every day to disrupt traditional business models further. But while there are a few projects with real long-term prospects, most of them are hampered by a lack of utility or value and usually die off once the initial excitement wears off.
One of these new projects that’s trying to do things differently is the Stoned Ape Crew. It is a Solana-based non-fungible token (NFT) project looking to become a global leader in the nascent community-based weed-lifestyle space. The project is spearheaded by a team of artists and developers from all over Europe. They include ABO, the team’s lead artist; PFO & MSF, developers with almost ten years of experience in the Web 3 space; Xlron ChefX, the SAC community manager; and Clemens, the team’s strategist and analyst.
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The Stoned Ape Crew (SAC) is an exclusive collection of 4,200 ape NFTs on the Solana network. The ape characters in the NFT collection are divided into five types, namely, scientists, businessmen, farmers, artists, and chimpions.
Each type of role ape NFT is generated from a combination of 140 traits, which gives them a unique set of mechanics that can confer real-world benefits to their holders. Each of the 4,200 apes was procedurally generated from a collection of hand-drawn items, and such is their quality that not only can holders collect, exchange, and stake them, but also print them and hang them on their walls.
Scientists, businessmen, farmers, and artists make up 50% of the Stoned Ape Crew’s NFT supply, with the remaining 50% being made up of chimpions. Chimpions, unlike role apes, lack distinguishing traits that make them unique. If anything, they have to be put through an evolutionary mechanism known as a “retreat,” where the chimpions are combined with tokens and, after three days, may gain new traits and new roles.
Transactions on SAC are carried out using $PUFF which is the platform’s native utility token. $PUFF is currently trading at $0.283298, down from an all-time high of $0.426847.
The token is a key ingredient in the retreat process used to generate traits and roles in chimpions. Ordinary retreats will cost 333 $PUFF, while special DMT retreats that give chimpions an 80% chance of gaining a new trait will cost holders 666 $PUFF.
The retreat process will not only be used to evolve NFTs, but it is also a clever token-burning mechanism. For instance, 2,000 chimpions sent to a two-week retreat will burn up to 1.2 million $PUFF tokens. Burning tokens will reduce the amount of $PUFF in circulation and increase its value in the crypto market.
Through a staking process, NFTs can also earn $PUFF. Unique traits imbued into the NFTs will allow them to earn different amounts of $PUFF, but generally speaking, chimpions will earn 15 $PUFF per day while role apes will earn up to double that amount every day.
And apart from staking and generating traits, $PUFF tokens can also be burned to create a rare type of NFT known as Nuked Apes. Given their rarity, Nuked Apes promise to be very valuable collector items, and not only that, when staked, they will earn 169 $PUFF per day, which is a huge markup on what regular ape NFTs will earn.
$PUFF has a total supply of 420 million units, with an initial supply of 420,000 tokens made available through airdrops to the thriving SAC community. The community, which is set to play a pivotal role in the development of Stoned Ape, currently numbers over 50,000, spread out across Discord and Twitter.
The 420 million tokens were doled out in the following way:
- 5% was put aside to market and promote the Stoned Ape Crew.
- 2.5% will be used to support charities, specifically the Multidisciplinary Association for Psychedelic Studies (MAPS).
- 5% will be locked in a liquidity pool to help maintain the value of $PUFF.
- 7.5% is earmarked for the project’s development team.
- 80% will be used for staking activities.
Transactions on the Marketplace will attract a 7.42% tax, which will be distributed in the following manner:
- 15% of that amount will be used for marketing.
- 5% will be used to support worthy charities.
- 35% will be given back to the project’s creators.
- 30% will be used to buy up floors.
- 15% will be used to buy other non-fungible tokens and fractionalize their ownership back to existing $PUFF holders.
According to the SAC team, the $PUFF token reservoir is large enough to last through 25 years of staking. And while the exact number of $PUFF tokens in circulation is unknown, nearly 77,000 tokens are currently listed on decentralized exchanges (DEX). The team also intends to make sure that no more than 5 million tokens will ever be put into circulation at any given time.
The Stoned Ape Crew boasts an exciting new and improved roadmap to stand out from the crowd of hundreds of new crypto projects popping up. In their roadmap, the SAC team has incorporated as many real-world utilities for the $PUFF token as they possibly could.
For instance, they plan to develop the first-ever NFT evolution process in the world of crypto. This process will be used to breed newer, rarer, and more valuable NFTs that will earn higher amounts of passive income when staked.
SAC also plans to build a decentralized autonomous organization (DAO) and allocate up to 350 SOL to it.
The team also intends to introduce a community-created cannabis strain to be sold in weed shops around the world.
To make $PUFF even more valuable, SAC intends to promote the worldwide usage and acceptance of the token, especially in purchasing legal marijuana and assorted accessories and merchandise.
The team will also look to grow their social media presence, especially on YouTube.
And to top it all off, SAC is planning to throw a most stoned launch party in Amsterdam, complete with waffles to curb the munchies.
Stoned Ape Crew is making all the right moves to establish itself as a mainstay of the weed and crypto communities. The floor price of the SAC NFTs has gone up by as much as 27 SOL. And with the project’s roadmap endeavoring to offer real-world value for cannabis users by making it possible to pay for CBD and Delta-8 using $PUFF and with plans to create swanky cannabis accessories and even open their own coffee shops in Germany or the Netherlands, there is no doubt that SAC will continue to be an appealing project for not only weed and NFT aficionados, but also regular crypto investors.
Disclaimer: This article is not intended to be a source of investment, financial, technical, tax, or legal advice. All of this content is for informational purposes only. Readers should do their own research. The Capital is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by reliance on any information mentioned in this article.