The creators of Bored Ape Yacht Club will launch a new NFT collection

The Yuga Labs community manager announced that the company is developing a new collection of non-fungible tokens, which will be made on the basis of the ApeCoin blockchain. In September, there were already rumors that such a turn of events was possible, but the announcement from the direct representatives of Yuga Labs took place only recently.

According to Alexei Koseff, who is the Community Manager at Yuga Labs, the new NFT collection could be released as early as December of this year. According to him, this is not the only project that Yuga Labs developers are involved in. The company is also preparing a gaming platform that will also be implemented on the ApeCoin blockchain.

Yuga Labs created the Otherside metaverse, where users conduct transactions and acts of purchase and sale in the ApeCoin currency. The token appeared on March 17, 2022 and had a value of $7.8. In the end of April, one ApeCoin was valued at more than $23.20, after which the currency began to rapidly lose value. The Otherside metaverse token hit its all-time low on November 14th.

Then the cost of one ApeCoin was $2.70, after which it began to grow. At the time of writing, ApeCoin is valued at $4.10 apiece, and the token’s capitalization has almost reached $1,500,000,000, which allowed APE to be ranked 30th in the list of cryptocurrency assets with the highest capitalization. The daily volume of sales carried out by traders exceeded $300,000,000.

It was previously noted that in the light of the global downtrend of the cryptocurrency market, the sector of non-fungible tokens was no exception. Despite this, many large companies are still expressing open interest in entering the field of NFT collections. So, for example, the fashion house Prada recently announced that on December 1 at 15:00 UTC +0, the sale of their seventh Timecapsule NFT collection will start, which will end in a day. In addition to non-fungible tokens, users will also receive bonuses in the form of invitations to special events that can be attended.

As for the state of the NFT token market, trading volumes sank for 2022 by more than 95% if you pay attention to the maximum figure in January of this 2022. The main platform for the sale of non-fungible tokens, OpenSea, has lost about 75% of sales over the past two months. In addition to the cryptocurrency fall, the situation with the fall of the American FTX exchange also strongly affected the negative indicators.

Talking about the interest shown by large companies in the direction of NFT tokens, we recently shared our thoughts on our blog about fashion houses. If you missed this material, then we invite you to familiarize yourself with it by clicking on the link. In short, despite the general panic of cryptocurrency investors and market drawdowns, large companies continue to develop towards non-fungible tokens. For example, such well-known brands as Prada, Dolce & Gabbana and Moncler have already created divisions that will promote their products not only in the real world, but also in the metaverses.