ApeCoin (APE) hits a new all-time high ahead of this week’s Otherside land auction

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APE price continues to hit new all-time highs as BAYC, MAYC and NFT investors prepare for the highly anticipated Otherside land auction.

The nonfungible token (NFT) and Metaverse sectors have been the bright spots in an otherwise sideways crypto market in 2022 and proof of this comes as APE token hit a new all-time high at $22.60 today.

The steady bullish momentum for APE is in large part due to the upcoming The Otherside land auction being held by Yuga Labs and Animoca Brands in conjunction Bored Ape Yacht Club NFT project on April 30.

APE/USDT 4-hour chart. Source: TradingView

The Otherside launch will consist of a Dutch Auction style sale and only know-your-customer (KYC) approved wallets will be allowed to participate in sale of the first 100,000 land parcels. All sales will be paid for using APE, which is clearly helping to drive demand for the token higher as interested parties accumulated the token in anticipation of the sale.

Related: ApeCoin price breakout stalls after $2.4M BAYC NFT robbery — What’s ahead?

Wallets that already hold a BAYC or Mutant Ape Yacht Club (MAYC) NFT will be able to claim a land parcel for free for 21 days after the auction without needing to be KYC-approved to claim.

Ongoing governance votes within the ApeCoin community have also helped increase demand for APE, a clear demonstration that BAYC and MAYC holders are looking to get more engaged with the direction the ecosystem will take in the years ahead.

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Meta will open physical metaverse-themed store in San Francisco Bay Area

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The store, which will be located on the company campus in Burlingame, California, will feature a wall-to-wall curved LED screen that displays what users see using Meta VR headsets.

Social media giant Facebook’s parent company, Meta, will be opening a retail store in the San Francisco Peninsula offering hardware for the virtual reality space.

In a Monday announcement, Meta said it would be opening a retail store in Burlingame, California on May 9 aimed at providing interactive demos for the company’s hardware products, including virtual reality headsets, video communications displays, and smart glasses. The store, which will be located on the Meta campus — its headquarters is in Menlo Park — will feature a wall-to-wall curved LED screen that displays what users see using Meta headsets.

“The Meta Store is going to help people make that connection to how our products can be the gateway to the metaverse in the future,” said Martin Gilliard, the store head. “We’re not selling the metaverse in our store, but hopefully people will come in and walk out knowing a little bit more about how our products will help connect them to it.”

Meta retail store. Source: Meta

Facebook rebranded to Meta in October 2021, saying at the time that its focus was expanding beyond social media and later announcing its metaverse vision for connecting online social experiences and the physical world. Though tech giants including Apple have brick and mortar stores across the world, Facebook’s roughly 2.9 billion users have not had the opportunity to enter a company retail store since the company was founded in 2004. 

Related: Basic and weird: What the Metaverse is like right now

In the metaverse, however, many firms are scooping up virtual properties, with electronics giant Samsung launching a metaverse store in the blockchain-powered world Decentraland in January. Reports have also suggested that major retailers like Walmart may also be preparing to go meta.