Summary
ApeCoin, tied to Yuga Labs’ NFT collection, has dropped 30% in the past week and 74% over the past year. Bored Ape Yacht Club’s floor price has also fallen 67% in the last year. ApeCoin is expected to be the currency for Yuga Labs’ new projects, like Otherside. The project’s slow progress has caused frustration among the community. Bored & Hungry, a burger joint associated with the NFT collection, has closed in the US but remains open in Asia.
Key Points
1. ApeCoin has experienced a 30% decline over the past week due to market turbulence caused by geopolitical tensions in the Middle East.
2. Bored Ape Yacht Club’s floor price has dropped by 67% over the past year to $33,000, bringing it closer to other popular PFP collections like Pudgy Penguins and CyberKongz.
3. ApeCoin is expected to be the primary currency for Yuga Labs’ new projects, including the Otherside game, which has faced delays and criticism for lack of regular updates.