APENFT Foundation repurchases NFT worth $2.52 million from Huobi and destroys it

Recently, the APENFT Foundation officially announced that it has repurchased NFTs worth $2.52 million from the Huobi platform and destroyed them, involving 1,030,067,282,396.0035 NFTs. This is the first large-scale repurchase of APENFT since its establishment in March this year.

The actual operation is from Huobi account16 account TNaRAoLUyYEV2uF7GUrzSjRQTU8v5ZJ5VR to TLRt2GZrfxBsYWjsh7wjmZbXT3WKMoEws9.

And finally transferred to the all-zero address T9yD14Nj9j7xAB4dbGeiX9h8unkKLxmGkn for destruction,

The transaction record is:

https://tronscan.io/#/transaction/d90b4be8df77655acf788ae9909883e3f0bd941a5b0a1c1625f14f116732d97e

According to previous media reports, the repurchase funds of $2.52 million came from Andy Warhol's "Three Self-Portraits" NFT previously sold on BinanceNFT MarketPlace. On June 27, the work was auctioned by an anonymous buyer for 2.8 million BUSD (about 2.8 million US dollars). After deducting a 10% transaction fee, APENFT's final income was 2.52 million BUSD (about 2.52 million US dollars). Subsequently, APENFT's official Twitter account tweeted that it intends to use all the funds to repurchase NFTs and destroy them. On July 7, the APENFT Foundation initiated a relevant community vote on its official website, and the proposal was finally passed on July 10.

APENFT is a foundation that is committed to NFTing and blockchaining the world's top artworks, supported by the underlying technologies of Ethereum and TRON, the world's largest distributed data storage system, BitTorrent File System (BTFS). Since its establishment, the foundation has reached in-depth cooperation with the well-known NFT writer Beeple and the three major NFT auction platforms, Christie's, Sotheby's, and Nifty Gateway, and has formed a complete market foundation relying on the basic users of the world's two major public chains.

At present, the collections of the APENFT Foundation include Picasso's famous work "Reclining Nude with Necklace", "Ocean's Front" and "ABUNBANCE" (5 pieces) created by crypto artist Beeple, and a complete set of NFT works "Cube" by crypto artist Pak, with a total value of more than 200 million yuan.

NFT is the governance token of the APENFT ecosystem and the only token officially released by APENFT. NFT token holders participate in the governance of the APENFT system by holding NFT tokens. On May 20, NFT was first listed on Huobi Prime and the highest increase on the day of listing was 120 times. It has been at the top of Huobi's trading list for a long time. At the same time, NFT has also landed on well-known digital currency trading platforms such as P.net.

It is reported that this is the first repurchase and destruction since NFT was launched, and it was completed through community governance voting. From the first online transaction on Huobi Prime to the first repurchase and destruction, NFT is trying to quickly seize the market.