Learn everything you need about The Otherside metaverse project by Yuga Labs, the creators of the Bored Ape Yacht Club NFT collection
Yuga Labs Otherside project wants to be the metaverse of all metaverses. A seamless link that brings interoperability of digital assets to the fore and carries Yuga Labs NFT collection communities together under one roof to engage in digital economies and a new frontier of human interaction.
On Saturday, 16 July, more than 4,500 Otherdeed NFT landholders broke through to the other side for the first time. More importantly, upon completing this first trip, Yuga Labs released a nine-part lite paper explaining the first trip’s place in the larger Otherside narrative. This further reveals that the first trip marks the beginning of an 11-part storyline.
Aside from this, little about the project has been revealed, and as with all new technology, it’s only natural that people have questions. Fortunately, DappRadar has you covered.
In this article, we answer the most common questions about the Otherside. More importantly, this article will be continually updated as we get closer to the launch date and more information comes to light.
- What is The Otherside Metaverse?
- Who are Yuga Labs?
- What is the Bored Ape Yacht Club (BAYC)?
- What is ApeCoin (APE)?
- What are Otherdeeds?
- What was the mint price of the Otherdeeds land plots?
- What are Koda’s?
- What is The Otherside marketplace?
- Which NFT collections will be compatible with The Otherside?
- Who’s building The Otherside Metaverse?
- What will people do in The Otherside?
- What does the future hold for The Otherside?
- How can I get involved with The Otherside?
What is The Otherside Metaverse?
Otherside is one of the most anticipated metaverse projects due to its gamification plan and connection with Animoca Brands. Moreover, Yuga Labs intends their Bored Ape metaverse to be an MMORPG that will connect the broader NFT universe.
The platform will turn NFTs into playable characters while collectors can own land in this open-world game and engage with various ecosystems.
Yuga Labs is looking to build one metaverse that reigns them all and has already started shaping Web3 through its shrewd acquisitions and market moves. From buying the IP rights to CryptoPunks and Meebits to the ApeCoin drop.
Now, Yuga wants to fit all this into the Otherside, offering users an interoperable experience that will allow them to move between metaverses.
Who are Yuga Labs?
Yuga Labs is a blockchain technology company that develops NFTs and digital collectibles. It was founded in 2021 by Wylie Aronow and Greg Solano and is headquartered in Miami, Florida.
On April 28, 2021, Yuga Labs launched the Bored Ape Yacht Club (BAYC), which became one of the most significant projects in the history of NFTs. Along with CryptoPunks, it spearheaded the NFT hype that saw record trading volumes in 2021.
Therefore, when Yuga Labs announced the acquisition of the CryptoPunks and Meebits IP rights, the entire crypto community went into a frenzy.
Yuga Labs made headlines again after revealing its metaverse plans. Including ApeCoin and Otherside, the metaverse project for the BAYC ecosystem. In late March of 2022, Yuga Labs completed a funding round that saw them raise $450 million and put them at a $4 billion valuation. Andreessen Horowitz led the round. Other investors include CoinBase, Animoca Brands, Samsung, and Google Ventures.
Yuga Labs went from launching an NFT collection with a mint price of 0.08 ETH or $210 to becoming a leading Web3 brand valued at $4 billion in a little over a year. In other words, Yuga Labs is a potent and influential organization with ties to virtually all the biggest companies in the crypto and NFT space.
What is the Bored Ape Yacht Club (BAYC)?
The Bored Ape Yacht Club (BAYC) is a collection of 10,000 unique Bored Ape NFTs. On April 23, Yuga Labs launched the BAYC mint, with the final sale set for May 1.
The initial floor price was 0.08 ETH (about $240). A few months later, in August of 2021, the floor broke 44 ETH (about $137,000). Today, the project is worth billions.
However, BAYC was just the starting point. On June 18, 2021, Yuga Labs launched a spinoff collection for Bored Ape holders called Bored Ape Kennel Club (BAKC).
Then they launched the Mutant Ape Yacht Club (MAYC) on August 28, 2021. NFTs from both collections quickly started selling for tens of thousands of dollars on secondary markets, and some of the most influential people in the world started buying them.
What is ApeCoin (APE)?
Ape Coin (APE) is an ERC-20 token created on the Ethereum blockchain that will serve as the native utility and governance currency of the BAYC ecosystem. Importantly, those wishing to buy lands in the Otherside metaverse had to pay using Ape Coin.
However, at writing, there are no clear indications of what role APE will play in the metaverse.
In the broader BAYC ecosystem, holding Ape Coin enables holders to participate in the DAO’s governance and exclusive access to features of the ecosystem, such as games, events, merchandise, and services.
What are Otherdeeds?
Otherdeeds is the name given to land plot NFTs in The Otherside metaverse. They are dynamic NFTs built as a collection of game elements. Each Otherdeed comes with a set of resources; a few Koda, which we will cover in detail here.
One notable thing about Otherdeeds is that they are regarded as Dynamic NFTs. This means the traits of an Otherdeed can change based on what you do in the game. Having interchangeable traits means opportunities to add or remove resources from land, thus creating a secondary marketplace for each item.
Five main traits can be found on Otherdeed plots:
- Resources (dynamic)
- Artifact (dynamic)
- Koda (dynamic)
Each Otherdeed plot has an environment and sediment with resources, artifacts, and Kodas being the interchangeable traits. Regarding rarity, Kodas and Artifacts are the least expected things to be found on the land, and Kodas are creatures found on 10% of the Otherdeeds plots.
What was the mint price of the Otherdeeds land plots?
With the cost of each Otherdeed set at 305 APE. and APE valued at around $20 during the minting process, each Otherdeed cost around $6,100 at launch. This excessively high price point didn’t stop anyone from buying, and Ethereum network gas prices failed to dip below 1 ETH, which was $2,750 at the time.
What are Koda’s?
Within the ecosystems made up by Otherdeeds live Kodas. They are beings that Yuga Labs says “have ushered us into the Otherside.” Moreover, the narrative surrounding Kodas is deliberately vague, as users aren’t supposed to know precisely what they are or why they exist — other than that, they have a connection to the Otherside land.
The company stated that anyone who encounters a Koda should take care. “We don’t know why they’ve brought us here or their affinity to this land.” If you are lucky enough to meet a Koda, tread cautiously,” Yuga said.
What is The Otherside marketplace?
The Otherside marketplace is the central hub for buying and selling in-game assets. Ape Coin will be the only currency used for transactions and developers can use the SDK to create characters, outfits, tools, structures, and games. These can also be bought and sold in the marketplace.
Which NFT collections will be compatible with The Otherside?
The collections listed will have 3D models ready to go as playable characters at launch. Other collections not listed but a part of the broader Yuga family, such as World of Women, Toadz, and more, can be imported or created using the Otherside SDK.
- Bored Ape Yacht Club
- Mutant Ape Yacht Club
- Bored Ape Kennel Club
Who’s building The Otherside Metaverse?
While much of the speculation and hype has centered around the potential value of lands and NFT collections in The Otherside ecosystem, one crucial element that will tie it all together is the actual gameplay. More notably, creating a metaverse platform that can handle thousands of players simultaneously with fast enough frame rates that nobody gets left behind.
To that end, Yuga is working with Improbable, a British metaverse technology company that helps partners realize rich, powerful virtual worlds and is also the initiator of M squared. With over ten years in the game, more than 10,000 workers, and raises equating to more than $500 million, Improbable is the chosen partner to progress the Otherside metaverse.
Alongside Animoca Brand’s breadth of knowledge of taking projects to market and financial backing from a16z. The team is looking fairly robust.
Also worth mentioning is that in 2016, Improbable partnered with Google, and in 2017, they released SpatialOS to open beta. The first games built on this tech were Worlds Adrift and Fall Guys.
Fall Guys went on to sell over 7M units on Steam and be the most downloaded game on the Playstation. Early gameplay results look fantastic for The Otherside as more than 4500 players descended into metaverse to test its features.
What will people do in The Otherside?
Probably the biggest unanswered question because, in reality, nobody knows what people will get up to in Otherside. Of course, the team will outline challenges, gameplay, and a narrative to guide the experience. Still, the land plot and NFT owners will shape the future of the Otherside Metaverse.
In this regard, NFT collectors can own land in this open-world game, harvest resources, and explore artifacts and rare characters.
We know that The Otherside Metaverse Gameplay follows a storyline in which a cosmic earthquake shakes up the universe, bringing a vision into the Kodas’ past, and things start to get interesting.
Improbable will develop Otherside on the M² network, creating an open metaverse on which the community can build and own unique characters and experiences. The team behind the Otherside Metaverse project also claims that more than 10,000 people will be able to play together simultaneously and interact with voice chat.
The most straightforward way to summarize what it will potentially turn into is to compare it to the metaverse world outlined in Ernest Cline’s bestselling book Ready Player One.
What does the future hold for The Otherside?
Considering Yuga Lab’s rise to fame in such a short time, the most exciting aspect of the Otherside project will be what is to come in the future. Yuga and its partners have been cryptic regarding Otherdeeds and Kodas, so for now, the possibilities of what Animoca and Improbable can do seem unlimited – especially when coupled with the deep pockets of Andreessen Horowitz.
While we don’t have all the details, one thing is clear. Yuga Labs wants to bleed the ethics and community feel of its BAYC collection into the Otherside metaverse and has made it clear that
One thing is evident through all this: Yuga still values the Bored Ape and wider NFT communities and sees holders as significant builders of Otherside.
How can I get involved with The Otherside?
To participate in the Otherside Metaverse, you must first buy or mint Otherdeeds NFT lands. The first minting wave occurred on April 30, 2022, when 100,000 out of 200,000 Otherdeed NFT lands were auctioned. The remaining 100,000 Otherdeeds will be distributed to Otherdeed holders based on contributions during the game’s testing phase.
You can purchase Otherdeeds from secondary marketplaces like OpenSea, and be aware that if you see NFTs of individual Kodas, resources, or artifacts for sale on OpenSea, or anywhere else, it’s a scam. You can not buy Kodas, resources, artifacts, or other Otherside game elements separately.
Importantly, buying or minting Otherdeeds is not the only way to partake in the Otherside Metaverse. You can join the SDK program directly, which offers developers the tools to build characters, character skins, structures, in-game items, and minigames for Otherside.
The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds positions in various cryptocurrencies, including BTC, ETH, and RADAR.