Apecoin (APE) Rises 36% After The Launch Of The Otherside Demo
✍️ 20 July, 2022 - 13:50 👤 Editor: Jakub Motyka
- Despite the drop in NFTs and other related tokens, Apecoin has managed to gain momentum.
- After showing the Otherdeeds demo, the token has managed to rise by at least 35%.
- What expectations do long-term investors have for this coin? Here we tell you everything.
BAYC's native token Apecoin (APE) surged 36% in just three days, despite the crypto winter, after the recent release of Otherside. In case you don't already know, Otherside is BAYC's metaverse project, encompassing different initiatives for the company and its NFTs. Thanks to this launch, and despite the state of the crypto market, the forecasts for the APE are positive. It is expected that, in a short time, the token will rise to reach USD 7.50, being the highest figure since its fall.
Shortly before launching the demo, BAYC invited its NFT holders to take a look at what their metaverse would look like. This sample has made its tokens reposition themselves in the market, as they are key pieces for games within the new universe. Hand in hand, it is offering game backgrounds for sale on its “OthersideMedia” channel. Like other tokens, they are found in OpenSea, however, they have a cost of only 2.0 Ethereum (ETH), being more accessible than an NFT.
Otherside Has arrived To Boost Apecoin And NFTs
Shortly before the company's metaverse demo, Otherside NFT sales reached an all-time low this month. Each token went from $22K to $6K in a very short time, >reaching a sales volume of USD 40.55 million last month. Although this figure is quite high, it represents a drop in sales recorded by Meebits, Axie Infinity, NBA Top Shots and other NFT projects. Simply put, this represents a 95% decrease from their previous volumes.
NFTs and related projects have experienced, so far this year, a large decline in value. Despite this, Otherside continues to be an attractive project for BAYC franchise holders. This is because, thanks to their tokens, they will be able to participate in a narrative experience called “The Voyager's Journey”. At the moment, only Otherdeed holders will be able to participate and contribute to the first features of the platform.
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