Yuga Labs, the creators of the Bored Ape Yacht Club NFT collection, just confirmed the date of its ‘Otherside’ metaverse launch. Li Ning, a Chinese sportswear company, has lately stated that it would create a clothing line based on images of BAYC #4102 in an attempt to capitalise on the growing popularity of non-fungible tokens (NFTs).
Weibo, China’s Twitter-like microblogging platform, said on Sunday that the company will offer BAYC-branded T-shirts and hats. A report on the situation was recently received by the Hong Kong Stock Exchange. Retail sales increased by about 30% year-on-year in the first quarter of this year.
Anta, a Chinese sportswear manufacturer, became an official sponsor of the Beijing 2022 Winter Olympics earlier this year. The company developed a line of digital collectibles based on the national sports team. Despite the country’s lack of clear laws, NFT trading is nevertheless permitted in China. State-run media warns against hype and exaggeration, claiming that they would harm the market’s progress.
Earlier this month, China’s banking and securities lobby urged its members to “resolutely stop” the surge of NFT “financialization and securitization.” However, the BAYC landscape has experienced significant growth in the last 24 hours. According to CryptoSlam, collection sales have increased by 95.6% in the previous 24 hours. Furthermore, the size of active wallets climbed by 42.3%. As a result, the collection’s floor price increased by more than 7%. Buyers must now spend at least 139 ETH to get a token from this category of digital products.
