BAYC’s Otherside: The Time Is Nearly Here!
The time is almost upon us! We’re about 12 hours out from one of the biggest moments in NFT history. Yuga Labs, the team that brought us Bored Ape Yacht Club (BAYC), will sell NFTs for its Otherside metaverse game at 12:00 PM ET April 30th.
The “Otherdeed” NFTs are anticipated to be virtual land deeds for Otherside’s metaverse. Although, this has not been officially confirmed, there are a few strong hints that this is indeed the case, including a leaked Pitch Deck by BAYC.
These NFTs are one of the most anticipated and speculative land drops of the year and are coming right at the time when the BAYC ecosystem is ramping up. Just last month, BAYC launched their Ethereum powered token ApeCoin, which is presumed to be used for all transactions within the BAYC ecosystem.
So, What is the Otherside?
Otherside is a metaverse game that will bring together a number of NFT projects including BAYC, CyrptoPunks, Meebits, Cool Cats, and possibly any other one that you want to bring into the Otherside.
They’re partnering with no other than the famed Animoca Brands. How this metaverse is different than the Sandbox and Decentraland remains to be seen. BAYC claims they are not creating just a metaverse. They’re building an interoperable gaming metaverse, a MetaRGP.
Don’t expect the game to be here anytime soon though. The initial metaverse will be rather simple. Other metaverses, such as Sandbox, have been in development for much longer and still have limited functionality. Also, gaming as a whole for crypto is still in its early stages. Nonetheless, this land drop is a critical first
What are the NFTs?
BAYC’s pitch deck suggests there will be 200,000 total land plots along with 10,000 alien “Koda” creatures that BAYC has tweeted in jest about after the deck was leaked.
How Can One Mint an Otherdeed?
Otherdeeds will be dropped to current BAYC and MAYC holders. On top of that, one must have KYC’d a wallet in order to mint one of the 55,000 Otherdeeds available for purchase. Each will initially sell for approximately 305 APE (~$6,890). With a project with this much hype, who knows how much they will be going for on the secondary markets. However, in order to control gas wars, each wallet will only be able to mint one Otherdeed during the first round of minting. Another round will then allow for wallets to mint a second Otherdeed.
How Will ApeCoin Be Used in the Otherside?
$APE is anticipated to be used as the currency. Due to this, APE has experienced a lot of interest and this week it has been rallying hard. Will APE blast past $30 per coin or is this a “Buy the rumor, sell the news” event? Fervent supports believe this is still a very good entry point for APE. What’s your call? Let us know.
The Otherside will contain an in-game marketplace. APE will be used for in-game assets. We’ll have to see what that entails, but land and digital fashion are definitely on the list.
What’s Next?
If there is one thing that BAYC knows how to do well, it is generating sustained interest for the ecosystem. We’re still in the early stages on the BAYC ecosystem, and the hype continues to increase. It will be very interesting to see where this metaverse game and the ecosystem as a whole continue.
