The price of ApeCoin surged on Wednesday following rumors that the altcoin could become a key payment token in BAYC‘s metaverse land sale.
On 20 April, APE soared 28% to over US$17, rebounding from its three-day low of less than US$11. Over the period, APE gained 55%.
Rumors have it that BAYC and Mutant Ape Yacht Club (MAYC) NFT owners might receive virtual lands on Yuga Labs’ Otherside metaverse platform and that public land sale will be priced in APE.
Although none of the rumors have been confirmed, tweets from @renegademasterr and @WillyTheDegen were enough send APE’s price skyward. “Was just sent some huge alpha re @yugalabs land drop. The sale will be a Dutch auction of some sort starting at 600 $APE” tweeted @renegademasterr.
Otherside is an MMORPG game in which players use their NFTs as avatars and characters. Yuga Labs reportedly expects to earn US$178 million by selling land in its metaverse.
BAYC recently announced that it is putting out a movie series produced by Coinbase, titled The Degen Trilogy. The first is expected to premiere as early as June 2022.