ApeCoin climbs 55% in three days as a ‘BAYC land drop’ rumor goes viral

Last updated: March 14, 2023 11:23 am

3 Min Read

The price of ApeCoin (APE) has skyrocketed in anticipation that it could become a de-facto cost token on an upcoming metaverse land sale by BAYC creators, Yuga Labs.

The cryptocurrency’s value increased almost 28% to reach a high of $17 per coin, after staying below $11. From the price lows of $11, APE has climbed 55%.

BAYC land airdrop

It has been reported that the owners of Bored Ape Yacht Membership and Mutant Ape yacht may be able to obtain digital lands on Yuga Labs’ much-anticipated metaverse platform, reportedly called “Otherside.”

Alpha leak: these projects will be auto whitelisted to mint Otherside land.
BAYC – airdrop (center land)
MAYC – airdrop (mid land)
CryptoPunks – WL (outer rim)
Meebits – WL (outer rim)
Cool Cats – WL (outer rim)
Nouns – WL (outer rim)
WoW – WL (outer rim)
Toadz – WL (outer rim) pic.twitter.com/gZ5ldAdoQM
— Willy ₿ullish 🍌 (@WillyTheDegen) April 18, 2022

Notably, the Otherside game will be an MMORPG where gamers can use their NFTs as native avatars or characters. It was also reported by in a leaked investor pitch deck that Yuga Labs expects to earn $178 million by promoting digital lands, where APE can be the de-facto token for purchases inside the game and metaverse. However, there’s no official word from either company or key stakeholders at Yuga Labs about the news.

Was just sent some huge alpha re @yugalabs 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. #BAYC #OTHERSIDE
— renegademaster / guccibayc.eth (@renegademasterr) April 20, 2022

Nonetheless, some BAYC NFT house owners claimed that Yuga Labs would promote the Otherside digital lands through a Dutch public sale. In doing so, they might set the minimum bid at 600 APE equivalent to $10,700 at the time of writing. The potential for ApeCoin’s use case could lead to increased demand for the token in the market. For now, though, APE trended on social media on a wave of high social media traction.