Ethereum-Based Altcoin Soars 55% As Metaverse Airdrop Rumors Spread

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.

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.


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Featured Image: Shutterstock / GarryKillian / Nikelser Kate


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