Home News Bored Ape Creator to Sell $300 Million in Virtual Land

Bored Ape Creator to Sell $300 Million in Virtual Land

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  • The creators of the Bored Ape Yacht Club are trying to sell $ 300 million in Metaverse Land for the game “Otherside”.
  • Yuga Labs issues digital “certificates” for metaverse properties of up to 55,000 plots.
  • This sale is expected to be the largest non-fungible token launch ever.

The creators of the Bored Ape Yacht Club will begin selling more than $ 300 million in Metaverse parcels on Saturday.

Yuga Labs plans to sell a digital non-fungible token “Certificate” to virtual real estate in the new game “Otherside”. The cost of each certificate is 305 ApeCoins, or about $ 6,000. NFTs provide buyers with access to a supply of metaverse landscapes of up to 55,000 plots.

Yuga Labs and its partner Animoca Brands will make $ 335 million and will be the largest NFT launch ever. The Financial Times said..

Originally intended to be sold at auctions in the Netherlands, Digital Land said: twitter On Thursday, the company planned to move to an NFT flat rate.

Expectations for Yuga Labs’ Metaverse sales also raised ApeCoin, the native digital currency of the APE ecosystem, by 50% last week.

The sale can also measure the resilience of investors’ interest in the Metaverse, a full-fledged 3D virtual world that is considered part of the next iteration of the Internet, or Web3. In November, the Metaverse Group Buy $ 2.43 million At Decentraland. A week later, video game publisher Atari Buy $ 4.3 Million SandBox of the land of the Metaverse.

On the other hand, NFTs have become a very profitable asset class, $ 100 million to millions of dollars. With artists, investors and entrepreneurs stepping into the early Web3 space, this trend has led to total NFT sales of $ 25 billion over the past year.

However, digital assets have been sluggish among hawks since the beginning of the year.


Federal Reserve

And the Russian war against Ukraine.

Weekly NFT sales have fallen by more than half from the peak of nearly $ 1 billion in early January, according to the company. Data from NonFungible.com. But last week, weekly NFT sales increased 85% to $ 456 million. From $ 246 million last week.

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