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Bored Ape Yacht Club's Metaverse "The Otherside" goes live

 


Bored Ape Yacht Club's Metaverse "The Otherside" goes live. Users can now purchase virtual pieces of land, Otherdeeds.   With a bit of luck, they win rare resources or even a Koda, these are the new NFT characters of the BAYC ecosystem.


The day has come. The long-awaited launch of The Otherside is upon us. This is the metaverse of the Bored Ape Yacht Club and is set to represent the largest event in NFT history to date: a sale of virtual properties worth over US$400 million.



Only $APE, the currency of the multi-billion dollar BAYC ecosystem, is accepted. This is now even officially accepted by Opensea . Not least because of this, the price of the cryptocurrency has shot up in the last few days. For all information regarding ApeCoin we have put together a detailed guide for you.



In order to be eligible to purchase the coveted virtual land, one had to register via KYC for the past few weeks. KYC stands for "Know Your Customer". In German it means know your customer. This means the identification of customers on the basis of money laundering requirements. However, for many crypto natives, personal identification is a no-go, which could give the secondary market a huge boost.


In total there will be 200,000 Bored Ape Yacht Clubs Otherdeeds

Yuga Labs is the company behind The Otherside and the Bored Apes. This put a colorful ecosystem on its feet, which was estimated at a proud 4 billion US dollars in the financing round of March 22, 2022. The round took place shortly after the launch of ApeCoin. Now you start your own Metaverse.


That's why Yuga Labs is now releasing a total of 200,000 Otherdeeds. This should happen in 2 passes. One will take place today, April 30, 2022, and the other will be held in August. A plot of land costs 305 $APE, about 7200 USD at the point of view of the article.



At today's price of Apecoin ($APE), around $23, that's over $1 billion for Yuga Labs. The $APE that you earn are locked for a year and thus taken off the market.


In the first drop, 55,000 will be sold to the general public. 15,000 will be held for undisclosed purposes and 30,000 will be airdropped to members of the BAYC ecosystem. This is, by far, the biggest NFT drop in history.


The Otherside, Rare Resources and Kodas

Yuga Labs clarified that the Otherside is a MetaRPG . RPG stands for Roleplaygame, in German role-playing games. Many video games have successfully managed to bring fascinating fantasy universes into the world and they want to orientate themselves with "The Otherside". Create a universe where users can bring their own NFTs and trade for real money.


“A brand new gaming experience where money is real, you actually 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."


The Otherdeeds: Kodas and Resources.

Because of this, the Otherdeeds come with rare resources or even new NFT beings: the Kodas . There are only 10,000 of these rare heavenly characters that are responsible for maintaining the virtual universe


The general public expects these to be tradable upwards of 10 ETH. With 100,000 pieces of land, resources and kodas, this is also a strong test for the NFT market. Can the NFT community provide enough liquidity to sustain these prices?

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