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- Yuga Labs projects like MAYC, ApeCoin, and BAYC have witnessed subsequent gains, thus making a headstart for Otherside metaverse.
- ApeCoin, token of Otherside, is outperforming rest of the metaverse projects with respect to the market value.
- Otherside metaverse release means that Yuga Labs is unveiling its strategies in this sector, and its collaboration with Animoca will add to the organization’s presence.
Latest Blue Chip and Market Rhythm
Since its release back in April previous year, BAYC has been in the sector for a year. Yuga Labs, makers of this project has succeeded in keeping ahead of rest of the collections in the market and has since surpassed all expectations.
Through innovative efforts, it not just have achieved the requirements of celebs to be “Web3 Socialites,” but also pulled a plethora of perks to ordinary holders: collaborative projects, membership privileges, community benefits etc.
ApeCoin remains bullish since its release on 17th March. Upon the time Otherside metaverse’s official details were unveiled, ApeCoin Crypto was instantly affected.
Official twitter account of Otherside declared that they will be abandoning Dutch Auction as well as transferring land parcels for 305 ApeCoin each, which fueled ApeCoin to its all time high of $27.
An alien named Koda appears in Otherside metaverse trailer. Koda is similar to a creature depicted in the marvel movie Shang Chi: and the Legend of the 10 Rings dubbed Morris.
A Vast Scalable Metaverse
Metaverse consists and exhibits an ecosystem instead of isolated game islands. In fact, tokens connect and link the islands. With respect to market capitalization of metaverse tokens, APE still has the throne and was almost twice the value of SAND.
Tokens are prime elements of economic governance in metaverse. Distinct designs will result in comparing user experiences in terms of utility and transactions.
Noteworthily, Otherside has made its Software Development Kit (SDK) free and accessible to all devs. By doing so, Yuga Labs does not restrict themselves to offer extension solutions for its own metaverse products. It is similar to developing a LEGA set.
Web3, where flex culture is pervasive, indigenous PFP IP is among the fundamental factors to achieve a foothold. In digital world, communication with each other via an NFT identity seems to be cooler and extra communicative than the usual 2d avatar display in Twitter Spaces.
What Yuga Labs is Planning?
BAYC is just the initiation. To lay the foundation in Web3, JPEG images will not be viable in the long run with respect to NFT development. If you are thinking, what future holds for NFTs? Then perhaps it is the latest games, entertainment economy, and MetaRPG are a way to go.
Animoca Brand, notorious for making investments in metaverse projects, took part in Yuga Labs’ latest funding round. The organization’s subsidiary, nWay, made an announcement which will be working with Bored Apes Yacht Club on a latest game.
If we look from a vantage point of “anything and everything for the metaverse” we may get a crystal understanding of Yuga Labs’ last operations. Initially, developing a community, then economy. Having had the couple of most essential components ready, Yuga Labs displays the scene. Through this, it is possible to depend on UGC to generate a great amount of quality content.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
