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- After too much anticipation, BAYC (Bored Ape Yacht Club) Otherside metaverse is all prepared to drop this week.
- Otherside is going to be released officially this Saturday, on 30th April. The announcement was done on their Twitter handle this weekend.
- BAYC is a prominent NFT collection consisting of algorithmically generated Bored Apes, having distinct qualities.
What’s On The “Otherside”
Yuga Labs has also released the official Discord server for “Otherside” — a step that broke Discord, to say the least. As of now, the server have around 138,000 members and it is still tough to get it! So, what’s on the “Otherside”? And how can you enter the space.
BAYC creator Yuga Labs threw a teaser on their Twitter handle during March. Since then, crypto Twitter has gone crazy with chatter regarding the Otherside and what it may hold.
The teaser features a Bored Ape chilling near a volcano, sporting hat and flip flops, smoking a cigar. He then catches a potion from water and drinks it, which eventually sends him in the “Otherside” — a venue full of submarines and lava.
Furthermore, there were some other NFT avatars too, involving Cool Cat, Mutant Ape, World of Women, and CryptoPunk. There are speculations in the air that numerous NFTs will be supported by this metaverse.
Meanwhile, Yuga Labs made an announcement regarding a collaboration with Animoca Brands to develop the metaverse. However, couple of organizations says that initial phase of the project will need KYC. Needless to say, declaration created an uproar on Twitter.
But, this is the situation. Otherside declared that only the ones having completed their KYC of their announcement website can take part in the upcoming mint. However, persisting MAYC and BAYC holders can claim NFT for upto 21 days after the bidding and does not require KYC.
Stuff We Should Not Forget
Apart from KYC validation, another important aspect to note regarding upcoming mint is that it will be exclusively in ApeCoin. But ETH would be required by the folks to pay the gas fees.
The mint is going to be a Dutch auction,which means, ApeCoin value will diminish over time. The project will declare the initial price of action later this week.
Furthermore, Otherside will lock all ApeCoin earned through auction for a year. Meaning, these coins cannot be utilized for governance or voting in ApeCoin DAO either.
It is safe to say that BAYC’s Otherside is the most anticipated drop of 2022, and we just hope it meets the expectations of the folks.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
