Bored Ape Yacht Club’s Metaverse “The Otherside” is launched. Users can now buy virtual plots of land, other things. With a bit of luck, they win rare resources or even Koda, these are the new NFT characters in the BAYC ecosystem.
The day has come. The long-awaited launch of The Otherside is upon us. This is the true meaning of Bored Ape Yacht Club, and it is set to mark the largest event in NFT history to date: the sale of virtual property worth over US$400 million.
Only APE, the multi-billion dollar currency of the BAYC ecosystem, is accepted. This is so far officially accepted by Opensea. At least for this reason, the price of the cryptocurrency has increased in the past few days. For all the information related to ApeCoin, we have compiled a detailed guide for you.
To be eligible to purchase the desired virtual land, one had to register via KYC for the past few weeks. KYC stands for Know Your Customer. In German, this means knowing your customer. This means identifying clients based on money laundering requirements. However, for many cryptocurrency citizens, personal identification is a taboo, which could give the secondary market a significant boost.
In total there will be 200,000 other boredom monkey yacht clubs
Yuga Labs is the company behind The Otherside and the Bored Apes. It put this colorful ecosystem on its feet, which was estimated at $4 billion in a funding round on March 22, 2022. The round took place shortly after the launch of ApeCoin. Now start your Metaverse.
This is why Yuga Labs is now launching a total of 200,000 Otherdeeds. This should happen in two passes. One will take place today, April 30, 2022, and the other will be held in August. The cost of the plot is $305 for a monkey, which is about $7,200 from the point of view of the article.
At today’s price of Apecoin (APE in US dollars), around $23, that’s more than $1 billion for Yuga Labs. The $APE you earn is locked in for a year, and thus is excluded from the market. More details about the launch can be found in this official blog article.
In the first drop, 55,000 will be sold to the general public. 15,000 will be held for undisclosed purposes and 30,000 members of the BAYC ecosystem will be taken down. This is, by far, the largest drop in NFT in history.
The other, rare resources and Kodas
Yuga Labs explained that the other side a MetaRPG Probably. RPG stands for Roleplaygame, in German Roleplaying Games. Many video games have succeeded in bringing fantastic fantasy worlds into the world and they want to orient themselves using “The Otherside”. Create a world where users can bring their own NFTs and trade with real money.
“An all-new gaming experience where real money, you already own your land and resources, everyone can bring their own NFT character, and everyone can create in-game assets. It’s not just a game, it’s a whole new economy.”
For this reason, other items come with rare resources or even new NFT objects: kodas. There are only 10,000 of these rare celestial characters responsible for maintaining the virtual universe.
The general public expects this to be tradable in excess of 10 ETH. With 100,000 plots of land, resources and codes available, this is also a strong test of the NFT market. Can the NFT community provide enough liquidity to maintain these prices?
Not giving an opinion
All information on our website has been researched to the best of our knowledge and belief. Press contributions are for general information purposes only. Any action the reader takes based on the information on our website is entirely at his or her own risk.