What is Yuga Labs Otherside? Dive into the Metaverse of Bored Ape Yacht Club
Over the past couple of years, the Bored Ape Yacht Club (BAYC) metaverse has become one of the most talked about phenomena in the NFT world. In this guide, we will talk about YugaLabs, the company behind BAYC, their new project OtherSide, and how it all relates to the BAYC metaverse.
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What is Yuga Labs and Bored Ape Yacht Club?
Now it is an umbrella brand with a wide IP (intellectual property) ecosystem of brands from restaurants and products to studios and entertainment shows, and more recently, its own startup accelerator with an elite club of BAYC NFT token holders from crypto millionaires to the most popular stars of show business with a total an audience of more than 1 billion subscribers. At its peak, renowned venture capital firm A16Z valued Yuga Labs at $4 billion before investing in it.
A thread that covers @yugalabs's IP Ecosystem🧵 pic.twitter.com/XoAVDjw0uR
— Harry Liu @ Forj (@harry_forj) August 22
The initial sale of lands in the Otherside metaverse earned Yuga Labs more than $300 million, and then brought even more in a year $1 billion in volume with 5% royalty on sales. It also had an impact on the rest of the BAYC, MAYC, BAKC collections, which increased trading volumes and royalties, and this was even before the release of the metaverse itself. In addition, the company allocated to itself and investors $APE tokens with a market capitalization at a peak of over $5 billion. At the moment, due to the seasonal downturn in the crypto market, the Market Cap is just over $1,2 billion.
OtherSide: a new metaverse project Yuga Labs
How is the Otherside metaverse organized?
The platform features digital plots of land, ApeCoin’s own currency.
The Voyager Voyage and the First Expedition
Announcement of the second trip in our channel: https://t.me/CryptoGamingPool_News/4140
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Balance between exclusivity and inclusiveness
For many people familiar with NFT, it is no secret that NFT is associated with exclusivity. And the collections of Bored Ape Yacht Club are among the most exclusive in the web3 world. But for the metaverse and the goal of attracting millions of players, this is not the way to go.
Recall that the main reason for the NFT ban in Minecraft was that NFTs do not meet inclusive values, and this is logical. NFTs in their current form drive hype through restrictions and exclusives.
As Otherside evolves, the balance between accessibility and exclusivity linked to previous Yuga Labs projects will define its contribution to Web3. The project aims to be part of an open, interconnected metaverse where users and assets can move freely between different platforms, and we'll see if that's the case or not.
How to buy and select land. Overview of the characteristics of Otherdeed lands in Otherside.
- Sediment
There are five types of precipitation: Infinite Expanse, Cosmic Dream, Rainbow Atmos, Chemical Goo, Biogenic Swamp. Their rarity ranges from Infinite Expanse (25.62%) to Biogenic Swamp (9.60%). At the moment, the influence of this factor has not been clarified.
- Environment
There are 29 environment types including Bog, Glacia, Steppes, Molten, Thornwood, Splinter and so on. The most common type is Bog (6,77%) and the rarest is Chaos (0,11%). The effect of this setting is not yet known.
- Type of land (Category)
There are eight categories of land: Decay, Harsh, Spirit, Volcanic, Mineral, Growth, Psychedelic, Chaos. The most common is Decay (19%), the rarest is Chaos (0,108%). Basically, the type of land affects the appearance of the territory.
- Renewable Resources
The earth can have up to four types of renewable resources, namely: anima, ore (ore), shard (shard) and root (root). These are the materials used to shape the world.
- Rarity of land and resources (Land & Resource Rarity)
Each parcel of land has its own rarity, indicated from 1 to 5 (where 1 is the least rare, 5 is the most rare), and the rarity of resources, displayed from 1 to 3 (where 1 is the least rare, 3 is the most rare).
- Koda
Codes are primal beings, out of 10 NFT Otherdeed there are codes. There are 000 megacodes - especially rare codes that have weapons and clothes. This characteristic significantly affects the value of land.
- Artifacts
More than 21 thousand lands hold valuable treasures and tools called artifacts. There are 74 different artifacts, the most common being Ancient Coin (0,98%).
- Land location
The location of the lands is interconnected with their rarity in the Osadka. In the center of the map is the rarest sediment, the biogenic swamp, and as you move away from it, the rarity of the land decreases. However, being close to the center does not necessarily mean that the land is “better” than the rest.
You can check the rarity of lands here, and the light paper will help you not to miss important details when buying land.
Performance evaluation is based on the perceived importance and attractiveness of the following aspects (in descending order of importance): Resources with rarity, artifact, code, land rarity with grade, and land name with sediment type.
Resources with rarity: Based on the available information, it can be concluded that resources can be mined and used to create content in the game. Thus, they will become the basis of the game economy and will be in demand by players who do not have their own land or there are no resources on their land.
Artifact: According to the information provided, artifacts will perform a specific function, different for each artifact. Perhaps they will be used in the process of creating game content, or provide their owner with certain advantages.
Koda: The situation with codes is similar to artifacts, but there are also rumors about possible bonuses for owners of land with codes in the future. In the demo of the game, it was shown that players would fight against the code in raids. Perhaps the presence of the code on the ground will attract other players who want to take part in the raid and receive rewards.
Earth Rarity and Sediment Type: These characteristics are of the least importance to me, since their purpose is not yet clear. All of the above characteristics have potential applications - buying / selling, gaming opportunities. While the rarity of the land and the type of sediment most likely only indicate the rarity of this NFT in general, its appearance and location on the global map. As land opportunities open up, the rarity and type of sediment is likely to have less of an impact on price formation.
Conclusion: The entry of Bored Ape Yacht Club into the metaverse with Otherside is an exciting development for the NFT and virtual entertainment market, especially crypto gaming. As the project evolves, it will be interesting to see how it shapes the future of digital communities and the open web3 metaverse, and how it competes with web2 projects.
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