Bored Ape Yacht Club Ditched the Dutch Auction Idea
The previously announced auction, which was planned to sell the tokens of the NFT metaverse Otherside, will not be held at the decision of the Bored Ape Yacht Club team. They announced this on their official Twitter channel.
This metaverse is a product of BAYC and its tokens are called Otherdeeds. The Dutch auction means that from the initial price the bids are reduced instead of increasing like in the English one.
The team revised this plan, finding it ineffective. Otherdeeds were decided to be sold at a fixed price of 305 ApeCoin. A total of 55,000 tokens will be sold. The price of APE after the release of this news updated its historical maximum, reaching $26.70, and at the time of writing this material is $21.45.