BAYC Floor Price Skyrockets, Transaction Volume Surges Following ‘Otherside’ Metaverse Announcement


109
149 shares, 109 points


KEY POINTS

  • The “Otherside” metaverse officially starts on April 30
  • ApeCoin is the governance token that powers the “Otherside” metaverse
  • The floor price of BAYC was just 0.08 ETH when it launched a year ago

The floor price of Bored Ape Yacht Club (BAYC) NFT skyrocketed and its transaction volume surged after blockchain company Yuga Labs announced the release of the Metaverse dubbed “Otherside.”

The Bored Ape yacht Club NFT is one of the most expensive and highly popular digital collectibles and has seen unprecedented growth since its first NFT minting began on April 23, 2021. At the time, the floor price was 0.08 ETH, but a year later, the floor price has zoomed to 137 ETH following the official announcement of the release date of “Otherside.”

Along with the surge in the floor price, BAYC transaction volume soared by 22% within 24 hours following the announcement. The specifics about the usage of Bored Ape Yacht Club NFT in the new metaverse have not been revealed, but holders anticipate a significant value jump on their Non-Fungible Tokens as “Otherside” begins rolling.

Otherside teaser See you on the Otherside in April. Powered by ApeCoin. Photo: YouTube Screenshot/ BoredApe Yacht Club Official YouTube Channel

The latest information on the floor price of BAYC came from a crypto reporter who goes by the name WuBlockchain who also shared the spike in the floor price and transaction volume of the side project of BAYC, the Mutant Ape Yacht Club.

“With the official announcement of the metaverse project Otherside, the floor price of BAYC reached a new high of 137 ETH, and the transaction volume increased by 22% in 24 hours. MAYC 24-hour traders rose 86% and floor prices rose 11%,” the reporter noted.

In essence, Floor Price is the lowest price for digital collectibles and unlike the average item price, it is updated in real-time.  It is also referred to as Entry Price since it is the required amount one should spend to be a part of a project.

The metaverse initiative of the Bored Ape Yacht Club “Otherside” was launched on March 19 with a short video providing a sneak peek of the upcoming metaverse. Since the launch, the metaverse’s Discord group has reached more than 131,000 members.

ApeCoin is the governance token that powers the “Otherside” metaverse. It was trading down 4.37% at $0.0285 with a 24-hour volume of $361 as of 12:41 a.m. ET on Monday,, according to data from CoinMarketCap.

© Copyright IBTimes 2022. All rights reserved.





Source link


Like it? Share with your friends!

109
149 shares, 109 points

What's Your Reaction?

hate hate
13
hate
confused confused
33
confused
fail fail
23
fail
fun fun
20
fun
geeky geeky
16
geeky
love love
6
love
lol lol
10
lol
omg omg
33
omg
win win
23
win
Daily List

0 Comments

Choose A Format
List
The Classic Internet Listicles
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Story
Formatted Text with Embeds and Visuals
Poll
Voting to make decisions or determine opinions