The Ethereum-based governance token used by the Bored Ape Yacht Club ecosystem has skyrocketed in value over the past seven days. And there were several reasons for this. Ahead of today’s launch of the Otherside meta, Bored Ape Yacht Club creators Yuga Labs and leading NFT marketplace OpenSea announced that it is now accepting ApeCoin. OpenSea shared this news with its customers in a newsletter.
The new APE token appeared on OpenSea almost immediately after this token became the largest token in the metaverse by market capitalization. According to CoinMarketCap, at the time of writing, ApeCoin is up 1.3% in the last 24 hours and more than 33% in the last week.
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Earlier we wrote that Bored Ape Yacht Club and many other projects are preparing to conquer the metaverse. Otherside is a metaverse game world created in partnership with NFT game publisher Animoca Brands, featuring a range of projects including Apes, CryptoPunks, Meebits and Cool Cats. Apart from this, Yuga Labs is also planning to launch the Otherdeed NFT collection, which is supposed to be similar to The Sandbox and Decentraland NFT tokens and signify ownership of the virtual earth . Otherdeed will be available for public sale to owners of Bored Ape and Mutant Ape.
Earlier this month, the Bored Ape Yacht Club project suffered a number of hack attacks, and many enthusiasts were worried that the upcoming launch of the metaverse could be delayed. However, the company was quick to reassure – as we see from today’s events, the smooth launch of the metaverse is going according to plan.