Avalanche has asked the ApeCoin community to develop the Bored Ape Yacht Club metaverse on its network to benefit from infrastructure and incentives.
The suggestion maintains that Otherside can benefit from Avalanche’s lower fees and high network speeds. Avalanche says it will offer $290 million in incentives to support the development costs, accompanied by technical and marketing support.
Multiple blockchains had offered to host Otherside metaverse after recording losses of over $100 million in gas fees when it debuted on Ethereum mainnet.
A section of APE token holders is yet to agree on the proposal, with most having liked a comment saying that the network should never move out of Ethereum but instead look for a layer two alternative.
A subnet is a scaling solution on the Avalanche network that enables developers to stake AVAX tokens and build their blockchains on the Avalanche base layer.