The Yuga Labs’ “Otherside” metaverse gas fees fiasco cost investors over $100 million in transaction fees. The board members of the Bored Ape Yacht Club (BAYC) connected ApeCoin DAO are hence, looking at offers related to migrating ApeCoin (APE) off Ethereum.
Two possible choices are Avalanche and Flow blockchains, as per executives at the firms behind both blockchains. Both of these blockchains believe themselves to be a better option to host a large-scale NFT ecosystem such as the one Yuga is creating.
Yuga Labs first hinted at ApeCoin migration on April 30 via a Twitter thread, “encouraging” the decentralized autonomous organization (DAO) which consists of APE holders to give thought upon this idea.
The DAO board currently is not “actively shopping” for any new chains, as per sources, however, it knows its responsibility to fulfill the demands of the DAO, which also includes a chain migration if it is voted by majority of people.