“BAYC and MAYC holders, you’ll be able to claim an NFT for 21 days after the auction. You don’t need to be KYC-approved to claim, but you DO need to be KYC-approved to mint in the auction,” This is what drives down the price of BAYC and MAYC. The holders are enraged by the news. They are still mystified as to what precisely this news is an announcement for. in the Otherside auction? in preparation of the release of Koda’s collection? Is it just for 3D Mutants? is not yet clear.
NFT’s well-received collection The long-awaited introduction of BAYC’s metaverse “Otherside” has finally arrived. The new initiative will go live on April 30 at 12 p.m. ET, according to the release. The site has linked its Discord channel in order to attract more people to join, and it already has over 140k members. Individuals who have completed the KYC procedure are the only ones who are eligible to participate.
Know Your Customer, or KYC, is the necessity for a cryptocurrency exchange to do particular identity and background checks on its customers before allowing them to use its platform. Money laundering and other illegal activities may occur when using crypto exchanges; hence, KYC is used to prevent them. Yuga and Animoca requested people to KYC a while ago before they could join in anything.
The mint will be totally in ApeCoin, with the exception of some ETH for gas. Both should be in the wallet you used for the KYC process. The ApeCoin price will steadily fall due to the Mint’s usage of the Dutch auction process. The starting price for the Dutch auction will be announced later this week. Individuals who have been KYC-approved were not permitted to participate in the auction.
If you have a BAYC or MAYC, you will be eligible to claim an NFT for 21 days after the auction. You do not need to be KYC-approved to claim, but you do need to be KYC-approved to mint in the auction.
On the morning of 4/30, you will be able to pre-approve your KYCed wallet at https://otherside.xyz.
This will allow the smart contract to mint ApeCoin using your ApeCoin during the auction. BAYC/MAYC holders do not need to approve their wallets in order to claim them; they only need to mint them during the auction. It is not necessary to pre-approve your wallet before the launch at 12 p.m. ET, but doing it a few hours ahead of time will save you time and money on petrol.
constructed in order to be safe Only official Twitter accounts, @boredapeyc, @yugalabs, and @animocabrands, as well as its Discord, will be utilized to make announcements.