ApeCoin holders, mark your calendars for a Metaverse event on April 30
ApeCoin (APE-USD) bulls have remained busy since the launch of their beloved token. The project, known for its close ties with the Bored Ape Yacht Club (BAYC) non-fungible token collection (NFT) – is one of the fastest growing assets in the market today. And there are reasons to believe that this growth will only continue. APE has a glaring catalyst on the horizon.
Since its inception just over a month ago, there has been a lot of talk surrounding the booming ApeCoin crypto. The project is proof of how high a crypto can go with the right demographic. Specifically, APE is designed to underpin Bored Ape Yacht Club, the ape-themed NFT collection that took the world by storm last year and has become one of the most beloved collections. already.
ApeCoin was launched at the end of March in response to the success of BAYC. The project is not officially linked to the project. However, ApeCoin has reputable support, including executives from FTX and Animoca brands as well as Reddit founder Alexis Ohanian. Designed to help decentralize the project while promoting growth, ApeCoin has already received the blessing of BAYC developers.
Thanks to the introduction of APE, BAYC developer Yuga Laboratories now has its own native currency to underpin the ecosystem. This means more ways to purchase Bored Apes and their sibling tokens, as well as a currency to underpin the incoming Otherside metaverse that Yuga announced in late March.
ApeCoin Seeks to Take Off as Otherside Metaverse Land Sale Approaches
Last weekend proved to be an exciting one for ApeCoin and BAYC token holders. Specifically, it looks like Yuga Labs is quickly gearing up for the launch of Otherside. Additionally, an event at the end of this week could certainly catalyze some gains.
Around the same time as the launch of ApeCoin, Yuga Labs engaged investors in its metaverse project. Details were scarce. However, the ultra-cinematic trailer BAYC fans were excitedly discussing what might be in store. Now, in the first public announcement on Otherside since the trailer’s release, Yuga reveals plans for a sale of the land on April 30.
Of course, this news is a major moment for the APE crypto. Investors know that ApeCoin will serve as the official currency of the space. Thus, it is highly likely that inbound land sales will be primarily conducted using APEs. With this knowledge in mind, investors flock to APE for their own pre-sale bag. Currently, the token’s trading volume has increased by 25%, with $1.8 billion in trading hands. This volume was enough to push APE prices up about 5% at the time of this writing.
As of the date of publication, Brenden Rearick has not held (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.