Bored Ape Yacht Club NFT metaverse is called Otherside and is about to take off. The Yuga Labs company, famous for Bored Ape Yacht Club and other NTF collections, launches Otherside on April 30.
The virtual world is getting pretty crowded. Everybody wants to launch a metaverse nowadays. The absence of VR technologies for wide audience is evidently no obstacle.
Most of these metaverses – those already launched and those about to be – heavily rely on NFT technology.
Non-fungible tokens seem to be the only proper way to hold and transfer assets in the Metaverse. NFTs are no longer limited to just pictures. Virtual land is also sold as NFTs. As well as most of the other assets and products.
No wonder companies who have already achieved significant success with NFTs in the internet are now rushing to conquer metaverses.
You might not know what Yuga Labs is, but surely you have heard of its renowned Bored Ape Yacht Club (BAYC) NFT collection.
Now get ready for the Bored Ape metaverse called Otherside.
Bored Ape metaverse is called Otherside and is more of a game
Founders of maybe the most popular NFT collections recently announced their own metaverse launch. That’s about the Yuga Labs company and their BAYC, MAYC, CryptoPunks, and Meebits collectibles.
The new Otherside metaverse is to launch on April 30 this year. Details are still unknown. But the famous NFT apes glimpsed in the Otherside teaser.
Yuga Labs announced their metaverse in March 2022. And right after that, the Otherside presentation leaked on the web.
According to this leak, the Otherside will be all about MetaRPG that combines NFTs from previously launched collections. Role-play games allegedly consist of 200 000 land plots. Half of it will be on release at the initial stage.
The company will distribute 30% of land plots during the airdrop among BAYC and MAYC holders. And the remaining tokens would go through an open sale.
The holders of these land plots would have a chance to get one of the 10 000 unique NFTs of the new Kodas collection.
Should we be excited with the Bored Ape metaverse Otherside?
Actually, the Yuga Labs’ metaverse launch means a lot to the crypto community.
This is going to be the biggest NFT-metaverse integration up to date. Majority of the metaverses being launched will heavily rely on NFT technology, but have yet to develop the proper infrastructure. Their users will have to mint NFTs of their own or there must appear a way of importing the existing NFTs from outside.
Meanwhile the Bored Ape metaverse Otherside will launch with enormous NFT resources available for the users.
Given how many people are already interested in the Bored Ape and other NFT collections made by Yuga Labs, chances are Otherside will gain momentum quite rapidly.
Some people might be amazed because of the fact those apes finally become something more than just pictures. In-game characters based on NFTs look like a great idea. At least now. Of course, we have to wait to see how it actually works.
Will Otherside help the APE token?
On March 18 Yuga Labs held the new ApeCoin (APE) airdrop with an emission of 1 billion tokens. The four main groups got the APE coins:
- 8% goes to the founders of Bored Apes Yacht Club;
- 16% goes to the Yuga Labs team (a portion of which equal to 1% of the total token supply donated to the Jane Goodall Foundation Legacy Foundation);
- 14% goes to “launch contributors,” which who Yuga partners and investors;
- 15% goes to owners of the Bored Apes and Mutant Apes collections.
And the company will release the last 47% tokens as part of the DAO’s “ecosystem fund” in the coming times.
Authors claim ApeCoin to be a token for culture, gaming, and commerce. They hope APE will help empower a decentralized community building at the forefront of web3.
What’s more important in the light of the metaverse coming is that APE is going to be the currency of the Bored Ape metaverse Otherside.
How is APE doing out there?
APE is definitely gaining some traction. Being launched at initial price of $7,26 it rose to $16,47 the next day. On March 21 APE touched the bottom with $9,6, but went up again. At the time of writing this, the coin is traded at nearly $18, which means a 60% price increase during the last week.
APE will presumably play one of the key roles in the coming metaverse. As soon as Otherside goes to action the token price will be in demand, that’s for sure.
Moreover, BAYC and MAYC NFTs sales increased dramatically right after the metaverse announcement. Average NFT prices from these collections have made new all-time highs at 135 ETH (~$398 600) and 35.5 ETH ($104 800).
It is very likely that the hype around ApeCoin will subside soon after the metaverse actual launch. But chances are the Bored Ape metaverse Otherside is going to be successful just all other projects of Yuga Labs seem to be. In this case APE is going to be in demand for a while.