After a disastrous NFT mint for its “Otherside” metaverse land sale, the creator behind Bored Ape Yacht Club is listening to offers about migrating ApeCoin (APE) off Ethereum. Two suitors are Avalanche and Flow who are allegedly negotiating for Apecoin to migrate to their chains.
<h2><strong>ApeCoinDAO, Yuga Labs in Talks With Avalanche and Flow</strong></h2>
ApeCoin DAO and Yuga Labs are <a href="https://www.coindesk.com/business/2022/05/17/apecoin-migration-draws-interest-from-avalanche-flow/" target="_blank" rel="noopener">reportedly</a> 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.

https://twitter.com/yugalabs/status/1520612362986078208

At the time of writing, neither Yuga Labs nor the ApeCoin DAO has confirmed the talks on migrating ApeCoin to a new chain.
<h2><strong>Otherdeed NFT Mint Broke Ethereum Network</strong></h2>
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.

ApeCoinDAO Open to Migrating to Avalanche or Flow Blockchain

The creator behind Bored Ape Yacht Club is listening to offers about migrating ApeCoin (APE) off Ethereum to Avalanche or Flow blockchain

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

ApeCoinDAO Open to Migrating to Avalanche or Flow Blockchain

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