The developers of Avalanche (AVAX) have asked the ApeCoin (APE) community to consider building the Bored Ape Yacht Club metaverse as an Avalanche subnet, according to a proposal.
The proposal argues that Otherside could benefit from Avalanche's low-cost, high-speed network. Avalanche would additionally provide access to a $290 million grant program to support development costs, the proposal says, as well as technical expertise and marketing support.
The move is a continuation of a trend CoinDesk reported last week, with various base tiers actively courting one of the hottest projects in the non-fungible token (NFT) space after a painful Metaverse launch on Ethereum that reportedly saw investors lose more than $100 million in transaction fees.
Yuga Labs, one of the teams behind Otherside, expressed dismay at the time and encouraged ApeCoin holders to consider a new chain for the project.
Subnets are a scaling solution on top of Avalanche that allows builders to set AVAX to build their own blockchains on top of the Avalanche base layer. Metaverses, on the other hand, generally describe virtual worlds where people can interact as they would in the real world, but digitally.
"ApeCoin would be fantastic as an Avalanche subnet, benefiting from the superior performance of its dedicated chain on the fastest consensus protocol," Emin Gün Sirer, founder of Avalanche developer Ava Labs, said on Twitter, citing the proposal.
However, not all APE holders were in favor. "We should never leave Ethereum," was the most-read comment on the proposal. "We should look for an L2 solution on Ethereum."
APE and AVAX tokens are down about 2% in the last 24 hours, amid nominal losses in the broader market.