Yuga Labs launched its Otherdeeds product in the metaverse. And a little more than a week after the launch, its sales broke all records. The Otherside metaverse launched a couple of days ago. And to date, the company has sold about 55,000 Otherdeeds —the unique pieces of land needed to qualify for the Otherside spot.
The developers say that in the near future, 200,000 sites will be unlocked in the metaverse. After the launch of the project, an additional 45,000 Otherdeeds were provided, of which 10,000 were available to BAYC holders, 20,000 to MAYC holders, and 15,000 reserved for developers working on the Otherside project.
One of the lots, namely Otherdeed #59906, was sold for 625 ETH, or $1.5 million. At the time of writing, this is a record that was reached 10 days after the launch of the metaverse. The current minimum price for Otherdeed is 3 ETH. But due to the rarity and high demand for Otherdeed, most lands will sell for more than the minimum price if they are currently up for sale.
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One enthusiast originally bought Otherdeed #59906 for $6,000 and then sold it for $1.5 million a week later. The peculiarity of Otherdeed #59906 is that it is the eighth rarest Otherdeed in the entire collection (according to Rarity Sniper). The lot contains an artifact – a potion that was shown in the Otherside trailer.
Yuga Labs is partnering with gaming giants Animoca Brands and Improbable on its project. The latter stated:
“In collaboration with Improbable, a metaverse technology company, Yuga Labs aims to create a MetaRPG universe where players own the world, where any NFT can become a playable character, and thousands of people can play together at the same time.”
In the meantime, some Yuga Labs projects are seeing strong price drops. As it turned out, Otherdeed’s price fell below the mint price of 2.45 ETH, following the company’s other projects. The low has been on the decline since Wednesday, when it hung around 3.5 ETH, worth almost $10,000 at the time. Also since Wednesday, BAYC’s floor price has fallen by 15% (to 91 ETH). Sluggish sales across the entire NFT market may be the main reason for the price drop. Whereas seven-day NFT sales volume declined sharply until Monday.
