A crypto asset created by the founders of the popular Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection is surging amid rumors that token holders will soon receive airdropped plots of metaverse land.
Yuga Labs’ ApeCoin (APE) first launched back on March 17th and has already experienced several big rallies as NFT collectors flocked to the new community-focused project.
The Ethereum-based APE governance token facilitates the workings of ApeCoin’s decentralized autonomous organization (DAO).
Now, as Yuga launches a massively multiplayer role-playing game (MMRPG) called Otherside, Twitter is abuzz with word that a number of NFT-related projects have been approved to mint land in the new metaverse space.
https://twitter.com/WillyTheDegen/status/1516144319874232323
Another Twitter user who’s a co-host of The DYOR Show podcast reveals that Yuga has whitelisted land for multiple popular NFT niches by way of a Dutch auction, in which the bidding price starts high and lowers over time as bids come in.
“Was just sent some huge alpha re: Yuga Labs land drop. The sale will be a Dutch auction of some sort starting at 600 APE.
BAYC / MAYC (Airdrop). Punks, Meebits, Cool Cats, Nounz, WoW, Toadz (Auto WL).
Get your APE ready. Looks like we’re gonna need it.”
APE had witnessed choppy price action throughout the month of April until the recent metaverse chatter sent the altcoin vertical starting on Monday.
ApeCoin rose 55% from $11.04 to as high as $17.11 earlier today. It has since corrected but remains up 23.2% on the day and is trading for $16.07.
I
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/GarryKillian/Nikelser Kate
