Ahead of the launch of the Otherside metaverse, the floor price of non-fungible tokens (NFTs) from the Bored Ape Yacht Club (BAYC) collection rose to a new all-time high, above $430,000.
According to CryptoSlam, BAYC ranks third among NFT collections by trading volume, with a figure above $1.9 billion.
The Otherside is planned on May 1 at 04:00 (MSK/Kyiv). The Yuga Labs team will release 55,000 Otherdeeds NFTs priced at 305 APE (about $7,100 at the rate at the time of writing).
Earlier launched in March ApeCoin (APE) reached a historic high at $26.7, according to CoinGecko. As of writing the asset trades at around $23.3.
According to Dune Analytics, about 7,500 wallets hold from 305 APE to 610 APE, another 24,400 — more than 610 APE. The project team has introduced a limit on the number of tokens available for purchase — 2 NFT per address.
Initially Otherdeeds were planned to be distributed via a Dutch auction, but they abandoned this method due to its inefficiency.
In March, Yuga Labs released a video announcing Otherside, in which characters from BAYC and MAYC, as well as CryptoPunks and Meebits, appeared. The rights to the latter, the project team bought back a few days before the metaverse’s announcement.
In the same month, Yuga Labs raised $450 million in a funding round valuing the company at $4 billion. The financing was directed, among other things, at creating Otherside.
In April, Coinbase announced a casting of BAYC NFT to be used in the forthcoming three-part film The Degen Trilogy. The first episode will be shown at the end of June.
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