Welcome to the ‘Otherside’: Expecting the Unexpected on the Upcoming BAYC Metaverse
The metaverse is speculated to play a role as a digital experience provider for users. While most of the developments were not specified, it was believed that the application of the metaverse was still far away.
However, one recent project announced byYuga Labs, an NFT bigwig, has fanned the flames of speculation again. In the recent announcement, the company stated that it had raised $ 450 million for “Otherside,” its own NFT/metaverse project. This project is set to be a gamechanger that combines various technologies and creates new and unique experiences for users. The release date of the game-oriented project is slated for April 2022.
What Is the “Otherside”?
According to the announcement, “Otherside” is a pay-to-earn Massively Multiplayer Online Role-Playing Game (MMORPG). This game will act as the bridge that connects the NFT and metaverse through the inception of both digital assets into the game’s world.
The game is a play-to-earn MMORPG set in an interoperable world that is completely decentralized. In the world, the users will be able to interact with each other through the game and play together to complete fun tasks.
How The Move Happened
Yuga Labs is a hotshot in the NFT market. This company is home to the world’s largest NFT project, the Bored Ape Yacht Club. This company is valued at $4 billion, showcasing its position in the NFT niche. Under the announcement, the NFT giant wishes to create an empire based around NFTs. The empire is slated to include a game-oriented metaverse project, a pay-to-earn game titled “Otherside.”
The announcement is one move in a series of actions taken by the company to solidify its hold on the NFT scene. The moves mentioned above include Yuga Labs making acquisitions, announcing a crypto token, and the funding round reported in the announcement made by the company.
Yuga Labs recently bought Meebits and CryptoPunks NFT collections to add to its roster of lucrative collections. This move made the entity the owner of three of the world’s largest NFT collections and gave them increased intellectual property rights. These rights will improve the game's crafting in question and future metaverse projects.
The juggernaut also recently debuted the ApeCoin tokens used in the project’s marketplace. These coins are just a part that links the entirety of the project. Andreessen Horowitz, a popular firm in the digital world, was identified as the lead for the funding round. This funding round done by Yuga Labs remains one of the largest in recent history. The funding process notably involved companies such as Coinbase and Animoca Brands.
From the steps above, the company has equipped itself to be a dominant and unique outlier in the metaverse niche. The moves combine in a systematic plan that shapes Yuga’s intended use of NFTs in the virtual space.
How The Move Sets Apart “Otherside” From The Rest
The announced move was noted to be a unique experience for users. These unique traits were evident from the trailer released by Yuga Labs on its Twitter page on March 19th, 2022. In the trailer, several different web3 characters are showcased alongside Curtis, a popular bored Apes NFT character. The trailer showcases Curtis ingesting a potion that causes him to trip. The popular character then starts seeing different fantastical scenes while being spirited away by a Koda.
This trailer is a testament to how“Otherside” will be different. The project aims to combine many components through partnerships and acquisitions. The aspect of partnership extends to the companies involved in creating the virtual space and its components.
Thus, the various characters signify how Yuga applied partnerships with other specialized companies to create its fun game world. According to BAYC Co-Founder Gargamel, the game will be interactive and allow people to socialize through fun activities.
Author's Take
“Otherside” is a metaverse project by Yuga Labs that seeks to create a pay-to-earn MMORPG. The game is set to revolve around the globally famous NFTs that the company has minted or bought. The game's announcement comes after planned steps were taken to sustain Yuga’s metaverse when it's up and running.
Under this pretext, the company partnered with many different companies to fund and develop the yet-to-be-released project. The game announced will differ from other metaverse spaces through its support for other NFTs. The game will also allow users to immerse themselves and socialize in the space like never before. These features make the project similar to the world “Ready Player One,” a fun virtual world for everybody.