Yuga Labs' Otherside Sails Again
Yuga Labs, the company behind Bored Ape Yacht Club, released new information regarding the second trial of its gamified Otherside Metaverse platform on Wednesday.
The "second trip" will occur on 25 March and consist of a two-hour narrative adventure led by four team captains from Otherside.
This trip is exclusively available to holders of Otherdeed NFTs, representing land in the unreleased Otherside Metaverse. Each Otherdeed holder, known as a "voyager", can invite a companion to join them in the adventure. The live experience can accommodate up to 10,000 voyagers on a first-come, first-served basis. Non-holders can watch a live stream of the event on the company's YouTube channel.
Yuga Labs' Otherside an intersection of the brand's umbrella projects
According to an interview with CoinDesk in December, Wylie Aronow and Greg Solano see Yuga Labs’ Otherside as the nexus of all the company's brand portfolio projects. In April 2022, the company hinted at its Metaverse aspirations by introducing a platform where players could possess the land and transform their current NFTs into playable avatars. Yuga Labs launched 55,000 Otherdeed NFTs connected to virtual land ownership, generating approximately $320 million in prior sales.
In July 2022, the company held its inaugural event for more than 4,600 participants, causing significant congestion on the Ethereum network. Those who joined the first trip and are voyagers on the second trip will have the chance to obtain a distinctive Obelisk Piece connected to the broader Otherside storyline. As per OpenSea's data, the total sales of Otherdeed NFTs have amounted to 524,130 ETH, which is approximately $806 million. At the time of writing, the minimum price for an Otherdeed NFT is 1.9 ETH, equivalent to $2,920.
The Otherside ecosystem is built around digital communities and blockchain technology, presenting chances for individuals to own digital land and use the native currency, ApeCoin. This currency is critical in powering interactions and transactions within the Metaverse's economy. By possessing digital land through "Otherdeeds", users can curate their immersive events and experiences.
Author: Priya Kumari
Priya is a passionate content writer and the co-founder of Finendorse. She is an enthusiastic crypto investor and has a huge interest in the upcoming digitisation age.