It’s no more news that the next Tech inclined driver of the decades ahead will hinge on NFTs and their value creation to humanity as part of the world’s next workstation. Without fail, the face of art, its work forms, and every beauty element it embraces will be a thing that appeases man’s fantasy. Understanding that the world isn’t just evolving but staying evolved can be a great mechanical drive to why many smart innovators are gradually dominating NFT Hubs.
Yuga Labs, the creators of the Bored Apes Yacht Club (BAYC) non-fungible token (NFT) collection, teased the public with the launch of its metaverse called ‘Otherside’. This was also captured in a post made by the brand where it said “See you on the Otherside in April“. The proposed launch has been set to come up in April 2022. In a bid to show off and amaze many with what the new pack will feature, the trailer opens with a BAYC Ape fishing by a stretch of water.
The trailer further illustrates a scenario where the Ape feels a tug on his rod which hoists his catch and afterward realizes a label on a bottle pulled up which says; “DRINK ME”. The ape obliges and finds himself abducted by a flying visit. The video goes on to reference other NFT collections: Mutant Ape Yacht Club, Cool Cats, CryptoPunks, CrypToadz, Meebits, Nouns, and World of Women.
A Robust Eco-system
With the trend that other brands migrating to the metaverse put up, stating how users may feel in its space, Yuga Labs didn’t say what it will be like to play in its upcoming metaverse. However, the company wrote that “Otherside” will be powered by ApeCoin. It’s not a secret anymore that the gaming company Animoca Brands is helping Yuga Labs build its upcoming metaverse. Animoca Brands’ co-founder Yat Siu is a member of the ApeCoin Foundation. Since Animoca Brands owns The Sandbox metaverse, there are rumors that “Otherside” may integrate with The Sandbox ecosystem. Currently, the Yuga Labs “Otherside” ad has close to one million views and 32,000 likes on Twitter.
Bored Apes Can’t Bore: Hope You Get the Gist
Despite the fascinating name the brand adopted for its operation, it has never been close to being boring or getting its broad user base bored in the past few weeks. The community has been brooding and building a vast structure even with the launch of its own Cryptocurrency, ApeCoin which launched on March 17th. Currently, customers can easily find ApeCoin on all major crypto exchanges, including Coinbase, Crypto.com, and Gemini. According to Yuga Labs, the new ERC-20 token which the brand now has will play a crucial role in the future Bored Ape economy.
About one week before launching ApeCoin, Yuga Labs made headlines after reaching a massive deal with CryptoPunks’ founder Larva Labs. With all of these NFTs under its umbrella, analysts believe Yuga Labs could be worth $5 billion. These exciting developments have sent Yuga Labs’ NFTs to new all-time highs. The Bored Ape Yacht Club is now the number one collection on OpenSea, having a floor price of 101 ETH (or about $300,000).