[Short #16] Is $APE the next $DOGE?

For the BAYC community, there has been one thing on their mind this week. As a result, many in the NFT space have been stacking ApeCoin ($APE), myself included.

Wait a second, what’s ApeCoin?

ApeCoin is Yuga’s currency for the ecosystem they’re building.

So another sketchy coin like DogeCoin?

Maybe, but I don’t think so. As silly as you might think DOGE is, DogeCoin’s market cap is over $17 BILLION. Off a meme!! (and Elon tweets)

So what is Yuga doing with ApeCoin then? Let’s start with Yuga’s homepage.

A simpler example of this is with video games today.

This is a screenshot of Homescapes, a popular puzzle game in of the Candy Crush genre. As you can see, I’m on level 1850, meaning I’ve spent countless hours matching shapes (SO FUN). I have 4621 coins which are used to purchase power-ups or extra lives and…Nope that’s all I can do with those coins.

But what if those coins could be used in the other games from the Homescapes franchise, like Gardenscapes or future games? Or even IRL utility like Homescapes merch?

That’s what Yuga is creating. That BoredNHungry restaurant I mentioned earlier this week? They take ApeCoin, Ethereum, and fiat. That BAYC merch drop in March? $APE only.

JustBoredAndHungry @BoredNHngry

@whatsupwally Successfully had the first purchase today using #BAYC $APE - welcome to Bored & Hungry! 🍔🦍

2:10 AM ∙ Apr 10, 2022

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Let’s get back to why everyone is chatting about ApeCoin and BAYC though.

Tomorrow, Yuga will be selling 55k plots of their land for their new Metaverse + Game that they’re building: Otherside

Watch the trailer, it’s actually pretty cool :)

Yuga Labs @yugalabs

See you on the Otherside in April. Powered by @apecoin

2:55 AM ∙ Mar 19, 2022

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The total supply for this land sale is 100k, so why 55k? 30k will be dropped to BAYC (10k) and MAYC holders (20k). The remaining 15k in this initial land sale will be allocated to partners and investors. Why? To strengthen the $APE ecosystem. Huh, sounds like this is a little more than a meme.

And it’ll only be sold in…duh…$APE.

OthersideMeta @OthersideMeta

Dutch auctions are actually bullshit, so Otherdeeds will be sold for a flat price of 305 ApeCoin 🧵.

1:37 AM ∙ Apr 29, 2022

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But why 305 $APE? Odd number.

Did you catch this scene in the trailer?

Are there plans for a real yacht club in the 305? I think the chances are pretty good ;)

This guy would approve.

305 = Miami for those still confused :)

I’m going to leave it at that and let you know how the sale goes next week. I wouldn’t be surprised if you see some headlines in mainstream publications. See you on the Otherside and have a great weekend!