After hip-hop moguls, Snoop Dogg and Eminem created a music video in which they appear as characters from the iconic NFT collection “Bored Ape Yacht Club,” ApeCoin (APE) prices increased by more than 30 percent.
The artists in the music video for “From The D 2 The LBC” morphed into characters from one of the most popular NFT collections. The visuals were made in partnership with 1st AMENDMENT and Young California with BAYC.
Both performers are well-known crypto aficionados, particularly in the entertainment sector of the cryptocurrency ecosystem. Previously, Eminem paid $400,000 for NFT from the BAYC collection. In addition to his active engagement in the play-to-earn initiative Sandbox, whose ambassador he is, Snoop Dogg announced the debut of a snack bar inspired by a collection of cartoon monkeys.
APE Is Pervasive
The price of ApeCoin (APE) increased in tandem with the publication of the music video and the announcement of the formation of a Metaverses standardization coalition by prominent technological businesses. Given that BAYC, the issuer of ApeCoin, has lately been aggressively creating its own “Otherside” Metaverse, the cumulative impact of two such loud announcements was significant.
APE, which was languishing at $3.9 per token, was able to build pace and hit $5.2 per token, a 34 percent rise in two days. This is a significant price level, which has been surpassed and stabilized, at which additional rise may be anticipated. However, APE failed to maintain this level and retreated to $4.78, giving up 10 percent of the previous day’s advance.
Obviously, it is impossible to anticipate a significant price change when unexpected news is released. According to the manner of releases from Yuga Labs and BAYC, investors and other interested parties should be vigilant. The corporation constantly advertises its NFT collections, develops the “Otherside” Metaverse, receives endorsements from a number of celebrities, and even just organized its first complete music festival, “Ape Fest 2022,” including a lineup of well-known performers.
