Jpeg collectors have struck it rich with the new Apecoin token according to Matt Cobuzio at Matt’s Crypto. These BAYC NFT investors have seen values surge as this coin has brought liquidity to the NFT space, which many feel may spark another NFT bull run.
In this article Matt shares some big news regarding BAYC Metaverse and Apecoin. Matt provides excellent content on all things NFT and crypto to his 109K+ YouTube Subscribers. Members of his private Alpha Discord Group receive even more in-depth content via buy and sell alerts as well as his much sought after NFT Calendar in addition to receiving Whitelist Spot opportunities.
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What has got Matt so excited is the recent news that Yuga Labs has purchased the IP for both CryptoPunks and Meebits from Larva Labs. This is huge, as Yuga Labs now own the IP for both BAYC (Bored Ape Yacht Club) and CryptoPunks which are the two biggest NFTs in existence. This acquisition makes Yuga Labs a Super Power in the NFT space as they strive to be the number 1.
One of the biggest gains for existing and future CryptoPunks and Meebits holders is that they will now have full commercial rights over their NF’s and can do with them what they choose. This is the same option that Yuga Labs provides to their BAYC and MAYC holders. The previous IP holders, Larva Labs did not permit free use of CryptoPunks and Meebits where holders could only use their images as profile pictures. This new free reign, Matt notes, will give greater scope to holders and will make these NFTs even more marketable.
The recent announcement that BAYC is launching their very own Metaverse called “The OtherSide” has the NFT world in a buzz with April the most likely launch date. A new $450 million round of funding has been raised from investors such as Google and FTX to build out this OtherSide Metaverse project. These additional funds now give Yuga Labs a value of 4 billion dollars.
The introduction of Apecoin, which is an ecosystem governance coin allowing Apecoin holders to participate in Apecoin DAO had a major early impact, rising to $40 before dropping to around $14. Although Matt is choosing to sit on the sidelines for a bit and to keep a close eye on how this develops, he still contends it’s worth exploring as a crypto investment. He notes that the monster airdrop for Whales who have the funds to own Bored Apes which saw that price soar and then dip will continue to have some serious chops in the price as it settles and finds its level in the market. This will be in part determined by who else collaborates with Apecoin and adopts and utilizes this coin in a meaningful way. A $18–20 price is within range Matt suggests.
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