The Bored Ape Yacht Club made news this week for hosting a live event which featured many stars. Part of the activity included a lawsuit being filed against a critic who was vocal in his views. The best news is that BAYC holders have something to be happy about – their ETH token ApeCoin rose 22% in value. At the time of publication, the coin’s price was $4.92, slightly down from a high of $5.26. Just last week, ApeCoin values went up 35%.
This price rise is significant because it indicates a small rebound for the NFT based token. It is a nice contrast for a token which suffered from brutal losses to the tune of 65%. This change is a stark contrast to the token’s all-time price high of $27. The highs were in anticipation of NFT sales for virtual land for the NFT’s metaverse-related game. ApeCoin is also enabled to help its holders in voting on any governance proposals recommended by its DAO.
ApeCoin’s recent rise in prices could have been due to a new video release on Friday. This music video featured Snoop Dogg and Eminem, prominent rap starts. They are also well-known ambassadors for BAYC and the video featured their avatars. The video featured on YouTube and had over 7 million views.
In other news, Yuga Labs filed a lawsuit against Ryder Ripps. According to the claims, he was accused of scamming interested buyers with fake Bored Ape NFTs.