Apcoin pumps nearly 50% upon release of 'The Otherside' Metaverse demo
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Apcoin pumps nearly 50% upon release of 'The Otherside' Metaverse demo
A thrilling “first trip” into the gamified metaverse associated with the Bored Ape Yacht Club (BAYC) has boosted the price of ApeCoin (APE) by around 50 percent. Data from CoinGecko shows APE rallied in the days following a demo of the Otherside metaverse, and it is up more than 43 percent over the past week.
First Voyage into ‘Otherside’ Metaverse Stirs Excitement
The Otherside Metaverse was co-produced by Metaverse tech company Improbable and Yug Labs. Era Labs in March flagged off the sale of its Metaverse project and virtual lands — one of the most expensive and successful NFT collections — as a means to expand its rugged app ecosystem, which warrants strong interest.
About 4,500 people explored the immersive virtual world through a demo held on July 17th, which sparked genuine excitement and helped boost the value of $APE. The demo was open exclusively to owners of another non-fungible token (NFT) (known as Voyagers). Otherdeed NFTs went on sale earlier in 2022 and essentially represent a plot of land and related resources in other worlds.
Gameplay Central to Otherside Experience
ApeDAO launched $APE in March to mixed market reaction, while aiming to "advance the culture into the metaverse". It seems that it is now being realized that $APE is needed to reach out to Otherside and purchase assets related to the game. According to The Otherside Project's Lightpaper, initially users (aka Voyagers) will connect to the virtual world through a narrative-based gameplay.
Tech demos such as what triggered a price rise for $APE are the first leg of Voyager's journey. Future "trips" inside Otherside are planned to accommodate more seafarers, and dates will be announced via Otherside's social media.