Meanwhile, the continuing popularity of blockchain-based non-fungible tokens has helped new cryptocurrency apecoin, linked to the Bored Ape Yacht Club NFT collection, become a $7 billion coin.
Apecoin, launched just last month and up hundreds of percent since it began trading, has an average price prediction of $27 by the end of 2022, according to a panel of crypto specialists put together by price comparison website Finder, up from around $24 per apecoin currently.
Apecoin was launched by Yuga Labs, the Andreessen Horowitz venture capital-backed creators of the hugely popular Bored Ape Yacht Club NFTs, and is soaring ahead of a new Yuga Labs NFT launch this weekend.
Otherside, a type of three-dimensional virtual world that’s become known as a metaverse, will bring together various NFT projects including the Bored Ape Yacht Club, CryptoPunks, Meebits, Cool Cats, and other collections developed by Yuga Labs.
“Yuga Labs are the blue-chip of NFTs, now that they purchased CryptoPunks.