The Bored Ape Yacht Club ecosystem is rapidly evolving. Last month, the ApeCoin token was launched to support Web3 applications. And now comes Otherside.
Otherside is a game world with metaverse elements that will bring together various NFT projects including Apes, CryptoPunks, Meebits, Cool Cats and more. Bored Ape creator Yuga Labs is developing this experience in partnership with NFT game publisher Animoca Brands.
Tomorrow, Yuga Labs will launch Otherdeed NFTs for the game, which are supposed to serve as a document to some sort of virtual earth in the metaverse, similar to the NFTs for The Sandbox and Decentraland. It is known that Otherdeeds will not only be distributed to the current owners of Bored Ape and Mutant Ape, but also sold to anyone . And here’s what you need to know ahead of the release.
Otherdeeds is an NFT for Otherside, the game metaverse that Yuga Labs has unveiled in recent weeks. This was announced in a new teaser video that shows us all the Yuga Labs characters: Bored Apes, Mutant Apes, CryptoPunks, Meebits, as well as other well-known projects Cool Cats, World of Women, Nouns and CrypToadz.
The fact that the new NFT tokens will serve as a document in the new metaverse has not been officially announced. However, the leaked information (which was recognized as official) points to a detailed plan to create a metaverse and a virtual earth.
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The plan says that there will be a total of 200,000 plots of land , which will be sold in several drops. And 10,000 alien creatures of the “Code” will be randomly distributed among them. About the latter, Yuga Labs joked on Twitter after the announcement of Otherside’s release: “Okay. But who is Koda?”
Even though the first NFT drop is tomorrow, it’s unlikely that the new metaverse will be ready to launch anytime soon . But by releasing NFTs, Yuga could fuel the hype and release drops ahead of a possible metaverse launch. 55,000 NFTs will be available for the upcoming drop. They can only be purchased with ApeCoin (APE). And they will sell for 305 APE each, which is currently around $6,100. The sale will begin at 04:00 Moscow time on May 1 on the official website of Otherside.
However, not everyone can purchase Otherdeed. Back in March, Yuga Labs launched a secret site where people had to register an Ethereum wallet and go through KYC. Only those who successfully complete this process will be able to purchase one of the 55,000 NFTs. In the first wave, Yuga will allow people to buy up to two Otherdeeds in a single transaction. But as the sale progresses, the limit will expand depending on the level of Ethereum gas fees.
Previously, the company planned to hold an auction in the Dutch format. But due to recent events, the team abandoned this idea, calling this type of auction “complete nonsense.”
Those who already own one of the Bored Ape or Mutant Ape can “claim” Otherdeed within 21 days of the sale starting. What’s more, they don’t need to have a KYC verified wallet.
While the company hasn’t given any official metaverse figures, the land is expected to be free for NFT holders , given the free ApeCoin and NFT drops given to Bored Ape holders in the past.
It is not yet known if different land types will be given to Bored Ape or Mutant Ape owners. Or perhaps Bored Ape NFT owners will get other benefits. In secondary markets, Bored Ape NFTs are worth significantly more than the later Mutant Ape. And Bored Ape owners received about five times the amount of free ApeCoins during last month’s launch.
