An altcoin created by the founders of the popular Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection is soaring in anticipation of its related metaverse going live this weekend.
Yuga Labs’ ApeCoin (APE) initially surged by 50% last Wednesday amid rumors that token holders would receive airdropped plots of metaverse land.
It was the latest rally since the token debuted on March 17th and NFT collectors have flocked to the new community-focused project.
Now, APE is rising again as Yuga Labs prepares to release its new massively multiplayer online role-playing game (MMORPG) called Otherside.
The official Otherside Twitter account confirms April 30th as the official launch date.
The adventure begins. Otherside. 4/30, 12pm ET.
P.S. Otherside Discord is open: https://t.co/ZPj7nbyBePhttps://t.co/jL61iSy97d
— OthersideMeta (@OthersideMeta) April 23, 2022
Hong Kong-based gaming company Animoca Brands, which focuses heavily on NFTs and the metaverse, also tweeted about its possible involvement in the forthcoming project, although specific details remain scarce.
“Animoca Brands is excited to announce that we’ll be adopting ApeCoin for the secret project we’ve been developing with Bored Ape Yacht Club.”
The floor price of a BAYC NFT jumped from 102 Ethereum (ETH) last month to 138.5 ETH today. With Ethereum currently trading for $3,014, BAYC membership comes at a minimum price tag of $417,439.
ApeCoin is up 45.3% from a seven-day low of $13.20 to $19.19 at time of writing.
APE hit an all-time high of $19.40 just hours ago before correcting slightly.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, 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 loses 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/pancha.me
