Bored Ape Yacht Club (BAYC) associated crypto token ApeCoin has skyrocketed over 50% in the last 3 days amongst rumors that owners of Bored Ape and Mutant Ape NFTs may receive virtual land plots in Yuga Labs upcoming metaverse “Otherside”.
ApeCoin rose over 20% today alone to reach a price just over $17 per token. The rumors regarding the land drop for BAYC and MAYC NFT holders are aided by additional rumors that ApeCoin will be the token used in the upcoming metaverse. Additional speculation is spreading on twitter that CyptoPunks, Meebits, Cool Cats, Nouns, WoW and Toadz NFT holders will also be whitelisted to purchase virtual land in the new metaverse.
What is Bored Ape Yacht Club’s new metaverse ‘Otherside’?
At this time, there has been no official announcement for the Bored Ape Yacht Club (BAYC) metaverse “Otherside”, however Yuga Labs has released teaser trailers that incur they will possibly be announcing a metaverse named “Otherside” or similar soon. Rumors and leaks report that “Otherside” will be a Massive Multiplayer Online Role-Playing Game or (MMORPG) and players of the game can use their NFT avatars as their game characthers. ApeCoin is reported to be the cryptocurrency accepted for virtual land and other purchases within the game.
There are other rumors suggesting that Yuga Labs may sell the virtual land via a dutch auction with a minimum bid of 600 ApeCoin, which translates at current prices to over $10,000.
Even with growth of over 50% in 3 days time, there is likely to be additional positive news and announcements for the BAYC and the ApeCoin ecosystem which could cause prices to increase further in the future.