Over the last day, a number of metaverse tokens, including ApeCoin, Flow, Axie Infinity, and Flow, have seen significant rises.
According to CoinMarketCap, ApeCoin (APE), the Ethereum-based token of the Bored Ape Yacht Club ecosystem, has increased 15.7% over the previous day and is presently trading at a two-week high of $5.19.
While the current price movement of APE is likely being driven by some project-related news, it can also be considered as a part of a larger market rebound that sent the price of Bitcoin beyond $20,000 earlier on Friday.
Further, the Ape Foundation has presented its suggestions for a new election procedure for the project’s decentralized autonomous structure (DAO).
If adopted, the suggestions would change the election procedure such that a council member’s seat would be up for election once every three months.
According to a tweet from ApeCoin’s official Twitter account, “this offers a stable atmosphere to responsibly bring in new members and ensure that the DAO has the consistency to run and effectively transmit expertise while also bringing fresh ideas from the community.”
Reddit co-founder Alexis Ohanian, Amy Wu of FTX Ventures, Maaria Bajwa, Principal at Sound Ventures, Yat Siu, Chairman of Animoca Brands, and Dean Steinbeck, President of Horizon Labs, are the current members of The Ape Foundation.
However, community members have long advocated for greater participation from those who are not connected to organizations that can have conflicting interests.
According to CoinMarketCap statistics, Flow (FLOW), a native currency of a Layer-1 blockchain from Dapper Labs, has increased 10% over the previous day and is currently trading at $2.13.
A proof-of-stake (PoS) blockchain particularly created for NFT collectibles and crypto games are called Flow. Recently, the world’s largest provider of event tickets, Ticketmaster, decided to use it to print NFT tickets for specific events like the Super Bowl LVI and others.
The governance token of the self-titled blockchain-based game, Axie Infinity (AXS), has increased 6.2% over the past 24 hours and is presently trading at $14.85, according to CoinMarketCap.
The SAND token, which is used to power the metaverse game The Sandbox where players can purchase virtual parcels of property for as much as millions of dollars, increased by 6.8% on the day and was trading at about $0.968.
MANA, the cryptocurrency used by Decentraland, has increased 5.3% during the last day and is currently worth $0.807.
