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There’s a lot of expectations from the metaverse in crypto as well as traditional gaming. Otherside, a yet to be launched Yuga Labs virtual world, is currently the most anticipated game among the crypto community. ApeCoin, native currency on the BAYC ecosystem, will be used in this upcoming digital realm. The company released its trailer in March 2022 and revealed the “First Trip Demo” in June 2022.
Otherside’s Second Trip in March 2023
Companies like Nvidia and Meta are rigorously involved in metaverse development. Mark Zuckerberg has reportedly invested billions of dollars on their research and development arm, Reality Labs, to enhance Horizon Worlds. Nvidia’s Omniverse allows people to come together to work on metaverse applications.
Still, the notion is in its infancy. Otherside’s First Trip revealed what their metaverse will be like. The visitors were impressed by the concept and are eagerly waiting for the official release. Recently, the team took to Twitter and revealed the game’s “Second Trip”. the
The video shows a barren land with large skeletons laying on the ground. NFT characters including a Bored Ape and a Meebit. The virtual space represent Otherdeed #9353 currently owned by Yuga Labs itself according to OpenSea.
ApeCoin (APE) Price Action
ApeCoin will be the indigenous currency on the Otherside ecosystem which the players may earn via in-game activities. The crypto asset is witnessing high volatility since November 2022 with price reaching the monthly peak at $5.25. It followed a steep decline over the next few days touching a low at $2.7. Bollinger bands show the asset is doing better than average value.
Moreover, fib retracement determines the price closing in 0.786 levels and a breakout may follow to create a new resistance between $5 and $5.5. RSI however indicates the asset is witnessing an overbought zone where the sellers may start entering the market.
ApeCoin may benefit from the Otherside’s official release as the ecosystem may see more holders during the time. A recent blog by Yuga Labs revealed what the Second Trip will hold for the visitors. It contained a small gameplay video showing game mechanics, which were somewhat similar to the Battle Royale game Fortnite. Furthermore, the team unveiled avatar customization options for the game.
Though this year has seen a massive downturn, metaverse tokens have remained intact. One of the reasons might be the increasing hype regarding the concept. Crypto sector may not experience any sudden recovery but assets including AXS, APE, MANA and more may see an uptrend considering the optimism regarding the metaverse.
Disclaimer
All the views given in the article belong to the writer and should be taken as investment advice.
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.
