This week, prices for non-fungible tokens (or NFTs) from the Bored Ape Yacht Club (or BAYC) rose sharply as expectations were announced Saturday (30) at Elsewhere, the play future metaverse by Yuga Labs. As a result, NFTs developed by Ethereum have reached the new “low” data rate.
As of Friday afternoon, the cheapest Bored Ape available for purchase is listed for 146 ETH (equivalent to US $ 412,000 or over R $ 2 million) on the OpenSea market. It is the highest floor price to date, according to data compiled by the NFT Price Floor website – and this is true for both ether (ETH) and dollar. denominations.
According to the website, last week the lowest price for Bored Ape was 123 ETH (or approximately $ 367,000). The rate of ETH has dropped by around 5% in the last week.
The adventure begins. Otherside. 4/30, 12pm ET.
P.S. Otherside Discord is open: https://t.co/ZPj7nbyBePhttps://t.co/jL61iSy97d— OthersideMeta (@OthersideMeta) April 23, 2022
This week, Yuga Labs announced that owners of the Bored Ape Yacht Club and Mutant Ape Yacht Club store can redeem an NFT (called “Other”) outdoor within 21 days of the announcement for the first time, starting this Saturday night.).
The expectation is that the “Otherdeeds” will represent one of the virtual lands in Otherside, including in the Sandbox and Decentraland games.
Up to 55,000 Otherdeeds NFTs may also be sold to wallet holders who have completed customer review (or KYC) checks in recent weeks on the Otherside preview site. Each NFT will be sold for 305 apecoins (APE), equivalent to more than US $ 6,500.
If all NFTs were sold, 16.7 million APE (or $ 369 million) would be raised, based on the current value of the token ($ 22).
APE prices also rose this week on Otherside NFTs “airdrop” as token prices rose by 50% last week, according to data from CoinGecko.
NFT follows the terms of ownership of a digital product, be it a profile picture, video file, or video game. The NFT wide market has $ 25 billion of packaging business in 2021 and Bored Apes has emerged as one of the largest ventures in the industry.
To date, the entire collection of Bored Apes’ NFT collections has generated around $ 3.75 billion of total packaging volume to date, according to CryptoSlam. Bored Apes NFT owners have received additional benefits since the project started a year ago with a minimum price of 0.08 ETH (less than $ 200 at the time).
Since they received free NFTs from the Mutant Ape Yacht Club and the Bored Ape Kennel Club collections, they have received a grant from APE and will continue to receive Otherdeed. In addition, the value of Bored Apes NFTs has skyrocketed and owners can use their legacy expertise in their own businesses and products, such as in virtual bands and restaurants.
Yuga Labs is now valued at $ 4 billion after recently raising $ 450 million by several crypto companies and celebrities. In addition, the startup acquired member expertise for the likes of CryptoPunks and Meebits by Larva Labs, the original creator of both domains.
These and other products from across the NFT industry will also be presented at Otherside, which is developing with metaverse investment firm and game publisher Animoca Brands.
* Translated by Daniela Pereira into Nascimento with permission from decrypt.co.