Bored Ape Yacht Club (BAYC) creator, Yuga Labs, has been making major moves in the Web3 space. From their purchase of CryptoPunks and Meebits to the ApeCoin drop, BAYC is setting a high bar for other brands in the NFT space. Most recently, Yuga Labs announced their newest initiative, the Otherside metaverse.
Otherside is Bored Ape Yacht Club’s open metaverse RPG that is compatible with other popular NFTs, created by Yuga Labs. This metaverse world is rumored to contain virtual plots of land that include unique artifacts, natural resources, and rare characters.
There are still many unknowns when it comes to BAYC’s Otherside metaverse. That being said, this article will walk you through everything that is known as of now.
Although not much is known about the Otherside metaverse yet, the team did announce that it is an open metaverse RPG world that will be compatible with other blue-chip NFT projects. Projects include CryptoPunks, Mutant Ape Yacht Club, Cool Cats, and World of Women to name a few.
The Otherside metaverse teaser video that was released in March reveals an Ape fishing on the dock outside of the club, waiting to catch something good. What he caught was even better than he had expected; a drink that would spiral him into a completely new world known as ‘Otherside’.
Several big-name NFT IPs were also teased in the clip, revealing that Otherside isn’t simply a world created for the BAYC community, but for others as well.
Minting for the Otherside NFTs begins on April 30, at 9 PM ET, only on the official Otherside website. The price to mint is a flat rate of 305 ApeCoin, as that is the only currency that will be accepted as a payment method. However, you will also need some ETH to pay for any associated gas fees.
Additionally, to participate in the mint you need to KYC your wallet on somethingisbrewing.xyz. Only those who KYCed can participate in the auction. As well, BAYC and MAYC holders can claim an NFT for 21 days after the auction. Holders don’t need to be KYC-approved to claim, but they do need to be KYC-approved to mint in the auction.
On April 30, you will be able to pre-approve your KYCed wallet on the Otherside website. This simply allows the smart contract to use your ApeCoin to mint during the auction. Again, BAYC and MAYC holders do not need to approve their wallets to claim, but they do need to if they want to mint during the auction.
There has been no official confirmation of a metaverse land sale for the Otherside metaverse. However, an apparent outdated leaked pitch deck reveals that a total of 200,000 plots of virtual land are expected to launch in partnership with Animoca Brands. Each Otherside metaverse plot is said to be listed at a price of 1 ETH each.
Additionally, whatever ApeCoin is earned from the mint will be locked up for one year. That means there will be no voting with it in the ApeCoin DAO.
Rumor says these plots of land are essential parts of the Otherside metaverse RPG. Each plot is said to come with unique attributes including artifacts, natural resources, and rare characters. These rumors were quickly put to rest once Yuga Lab’s co-founder, Gargamel, stated in Discord that the pitch deck is out of date.
“That’s an old outdated pitch deck and hilariously a version that neither Gordon nor I ever saw. There are a lot of things in there that have already been changed, and plenty more things that will change because f**k doing expected things,” said Gargamel.
Now, you could either be offended by this statement, or you could be ecstatic! Personally, I think this is even more exciting. The fact that Gargamel is beyond doing “expected things”, means that we are all in for a pleasant surprise.
Of course, there have already been numerous scams and fake accounts leading up to the official Otherside drop. On April 20, BAYC announced that its Instagram account has been hacked. After seizing control of the Instagram account, hackers sent a phishing post that fooled followers into clicking on the link. The link required people to connect their wallets to the hacker’s smart contract, resulting in four stolen Bored Apes and an additional $3 million worth of various NFTs.
“Yuga Labs and Instagram are currently investigating how the hacker was able to gain access to the account. Two-factor authentication was enabled and the security practices surrounding the IG account were tight,” said BAYC creators in a statement.
As a result of the hack, the price of ApeCoin dropped nearly 11 percent to $17.41 but quickly bounced back to its current price of $22.23, leading up to the highly anticipated drop on Saturday.
Otherside’s official Twitter account has since emphasized numerous times that only certain accounts are trustworthy sources for information pertaining to updates about Otherside, including:
The official Discord servers of Otherside and BAYC will keep updating the project’s latest status. Otherside also made it clear that nothing will be announced or cross-posted anywhere else. Absolutely no one involved in Otherside will be posting on Instagram. There are no contests or giveaways and no surprises or early drops. Everything will happen on April 30, only on Otherside’s official website.
The Otherside drop is easily one of the most anticipated drops of the year. With Yuga Labs leading the way in the NFT space, they are sure to deliver an amazing product and an even better experience. Make sure to follow ONE37pm on Twitter to stay up to date with all the latest announcements.