Demex Daily #92: ApeCoin DAO Partners with Arbitrum for Ethereum Gaming Scale-Up

What’s Interesting Today:

The ApeCoin DAO has selected Arbitrum, an Ethereum layer-2 scaling network by Offchain Labs and Horizen Labs, to create the "ApeChain" focused on gaming for the Bored Ape ecosystem. This decision, winning over 50% of votes, aims to mitigate the high costs and inefficiencies of the Ethereum mainnet by introducing a cheaper, gaming-centric blockchain expected to launch in Q2 2024. ApeChain will utilize ApeCoin for governance and transaction fees, emphasizing the Ethereum ecosystem's growth and the potential to enhance Web3 engagement through lower transaction barriers. Yuga Labs supports this initiative, highlighting the community's move towards innovative, scalable blockchain solutions.

The Worldcoin token, backed by Sam Altman of OpenAI, jumped 40% today following the launch of OpenAI's text-to-video AI model, Sora, marking a 76% increase over the past week with its market cap exceeding $550 million. Worldcoin aims to create digital IDs through retinal scans. The release of Sora, alongside a general crypto rally, has also lifted other AI-related tokens, reflecting growing investor interest in the AI and crypto convergence. This trend underscores the potential of blockchain to democratize AI and authenticate digital content.