NewsletterWill Apecoin’s Next Big Launch Bring NFTs Back To Life?
Earlier in September of this year, it was rumored that NFT giant Yuga Labs was possibly working on a new NFT Collection called “Mecha Apes” with a possible introduction at the fag end of the year.
Mecha Apes Launch Announced
This seems to be true, with Alexei Koseff, Yuga Lab’s Community Manager, sharing in a tweet that, the NFT behemoth will be releasing the much anticipated “Mecha Apes” by this year’s December.
Along with that, Alexei also revealed that a new blockchain-based gaming platform will be launched in parallel with Mecha Apes and will be powered by their native token Apecoin (APE).
Mecha APES BY Yugalabs will be released this December along with the new Blockchain gaming platform powered by $APE.
In the meantime, You can now sign up for the whitelist to secure an ape when our collection drops! pic.twitter.com/HXBHpEnBw7
— Alexei Koseff (@akoseff) November 28, 2022
As per Alexei’s recent tweet, Yuga Labs have opened their whitelist for users to register and secure their positions for the upcoming NFT drop.
Steep Decline In NFT Sales
NFTs have shown a sharp decline in trading volumes in recent times. It decreased by 97% from a record high in January of this year to a mere $466 million in September. The largest NFT trading platform by volume, OpenSea, suffered a 75% decline in sales from just two months earlier.
While the nascent NFT market benefited from cryptocurrency price gains and high-risk appetite among investors in 2021, these conditions have turned sharply in 2022, as the central bank’s increase in rates and the recent FTX saga have prompted investors to ditch risky assets like digital assets.
Can This Trigger An NFT Pump?
However, Yuga Labs being an NFT powerhouse, with noteworthy projects like Bored Ape Yacht Club (BAYC), Bored Ape Kennel Club (BAKC) and the metaverse project called “The Otherside” — all eyes are now on the NFT giant to bring back the NFT space to its former glory with the launch of its upcoming products.
The firm also recently acquired the IP rights of “CryptoPunks” which was once seen as its largest competitor to BAYC.
Read More: Yuga Labs Acquires WENEW & Its Flagship NFT Series 10KTF
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Fed’s Chris Waller Says Labor Market Is ‘Very Soft,’ Signaling Support for More Rate Cuts
- DeepSnitchAI Raising funds to Build AI Intelligence for Investors
- LINK Vs. XRP: Crypto Founder Lark Davis Reveals Who Will Win in the Next Decade
- Bitcoin Proxy Metaplanet Gets Support from World’s Largest Sovereign Wealth Fund
- Bitcoin Adoption Hits New Levels as Bhutan Commits $1B BTC to Develop Its Economic City
- Bitcoin Price Prediction as Capriole Founder Warns of a Drop Below $50K by 2028
- XRP Price Rare Pattern Points to a Surge to $3 as ETFs Cross $1B Milestone
- DOGE Whales Add 138M Coins in 24 Hours: Will Dogecoin Price Rebound Above $0.15?
- Ethereum Price Outlook Hinges on Whale Moves: Dump Below $2,800 or Reclaim Above $3K Next?
- Solana Price Outlook After Charles Schwab Adds SOL Futures — What Next?
- Pi Network Stares at a 20% Crash as Whale Buying Pauses and Demand Dries
