ApeCoinDAO Open to Migrating to Avalanche or Flow Blockchain

ApeCoinDAO, Yuga Labs in Talks With Avalanche and Flow

ApeCoin DAO and Yuga Labs are reportedly in talks with both Ava Labs and Flow Foundation as they are exploring alternative blockchains beyond Ethereum. Each team believes that their chain is best suited to handle the Bored Ape Yacht Club NFT and metaverse ecosystem.

Yuga Labs initially probed into ApeCoin’s migration to another chain on Twitter on May 1st, while “encouraging” the decentralized autonomous organization (DAO) comprised of APE holders to consider it a possibility.

At the time of writing, neither Yuga Labs nor the ApeCoin DAO has confirmed the talks on migrating ApeCoin to a new chain.

Otherdeed NFT Mint Broke Ethereum Network

The Otherdeed NFT mint spearheaded by Yuga Labs kicked off on the 30th of April. The event allowed Yuga Labs to raise roughly $320 million in a few hours by selling plots of digital land.

However, the event also resulted in the congestion of the Ethereum network as investors rushed to secure their Otherdeed NFTs.

The congestion coupled with the high gas fees on Ethereum during the event prompted the team at Yuga Labs to suggest that an Apecoin migration to its own was a potential solution to prevent future mint events from undergoing similar hurdles.