ApeCoin: On the Otherside UpTrend

Written By Simon Mwebaze

The Metaverse is becoming a major conversation in the Web3 space due to its potential to become a trillion-dollar business industry.

With the recent announcement of Otherside, ApeCoin holders have turned bullish. In fact, more than 100,000 people recently joined ApeCoin’s Discord channel indicating strong interest among investors.

Why is Otherside (which launched April 30) such a big deal for ApeCoin? The biggest reason is the extra utility it adds to the ApeCoin token. The token will be used to buy virtual land in the virtual world, which will encourage investors to hold the token. ApeCoin will also be a tool to advance and implement gaming, entertainment, working, events, and more within Otherside. Additionally, token holders will gain access to take part in the ApeCoin DAO.

Rumors also suggest that plots of land will be sold in a Dutch auction format with bidding opening at 600 APE. Since the announcement, the token jumped from $10.90 to $19.96 (as of the day of writing). It is expected to breach the $20 resistance very soon.

We will be watching.

_____________________________________
Who is behind ApeCoin?

  • Alexis Ohanian
    Co-founder of Reddit; General Partner & Founder of Seven Seven Six
  • Amy Wu
    Head of Ventures & Gaming at FTX
  • Maaria Bajwa
    Principal at Sound Ventures
  • Yat Siu
    Co-founder & Chairman of Animoca Brands
  • Dean Steinbeck
    President & General Counsel at Horizen Labs

A special council on the APE Foundation (the DAO’s “Board”) provides, at the behest of the ApeCoin DAO members, oversight of the Foundation administrators. The purpose of the Board is to administer DAO proposals and serve the vision of the community. It meets on proposals requiring administrative review under ApeCoin DAO rules. The initial Board serves a term of six months, after which DAO members will vote annually on Board members.

Like what you read? Check out these articles!

Share your thoughts!