After the successful launch of ApeCoin (APE), the issuing company Yuga Labs is preparing to create its own “Otherside” metaworld. The virtual world will be presented to the public on April 30 in partnership with Animoca Brands.
The launch of the metaworld is expected to impact ApeCoin prices, which hit a record high on Monday, April 25.
Yuga Labs has decided to hold a Dutch auction-style sale of Otherside lands, with only ApeCoin accepted for payment. The starting price of the auction will be announced by the end of this week, and the auction will require an identity verification procedure (KYC) to participate.
In addition, the Yuga Labs team said that ApeCoin tokens received in auctions will be locked up for one year.
Since its inception, the price of ApeCoin has risen more than 1,600%, going against all the negative market sentiment. While the price of bitcoin (BTC) has fallen 9.5% in the last 30 days, ApeCoin has added 26%, ranking 31st in terms of market capitalization