APF Coin (APFC) is evaluated as a centralized Real-World Asset (RWA) project rather than a decentralized cryptocurrency protocol. Its primary strength lies in its Security and Audit History (Score: 8/10), backed by a Cyberscope audit and a clean exploit history, and its Market Use Case (Score: 6.5/10), which offers a tangible value proposition through agricultural land tokenization by the APF Group. However, the project scores poorly in critical crypto-native metrics. Active Development (Score: 1.5/10) is virtually non-existent, with no public code activity, confirming its nature as a closed corporate initiative. Community Support (Score: 3/10) is weak, marked by stagnant growth and minimal engagement. While the Team is public (Score: 5/10), governance is highly centralized; contrary to marketing claims, the whitepaper suggests token holders lack voting rights, and the issuer faces regulatory scrutiny from the Czech National Bank. Tokenomics (Score: 6/10) benefits from a fixed supply but is severely hampered by extreme centralization, with the top 10 wallets holding over 90% of the supply. Overall, APFC represents a digital receipt for a specific corporate investment fund rather than a growing decentralized network.