Otherside: connect everything

Key Takeaway

  • Recently, BAYC, MAYC, ApeCoin and other projects under Yuga Labs have increased to a large extent, creating a good market start for Otherside. The Koda 3D PFP in Otherside will have the potential to be the new blue chip.
  • Otherside has the assistance of independent SDK software, which enhances the custom imagination space inside MetaRPG. Focusing on the infrastructure, economic model and cross-game layout, Otherside may connect various other Metaverse products in the future to create a “public chain” in the NFT world.
  • The collaboration with Animoca and OpenSea will bring bonuses to Yuga Labs’ Metaverse and game layout. In addition, Otherside is also focusing on land reuse value and utility, rather than using land as an idle asset.
  • The high-quality collections owned by Yuga Labs account for more than 20% of the market value of the entire NFT market. The voice of these IPs will be used as weapons for Yuga Labs to build a world based on identity.

Market rhythm and new blue chips

Since its release in April last year, BAYC has gone through a whole year. During this period, Yuga Labs has been keeping pace with the market and constantly breaking expectations. Through many innovative attempts, it not only meets the star’s demand for “Web3 social upstart” status, but also brings huge dividends to other ordinary holders: membership privileges, community peripheral benefits, well-known trend brand linkages, etc. The community draws consensus from different groups of people, and finally forms the core spirit – openness and co-creation.

Otherside: connect everything

Community Cultural Communication Display

After the phased success of BAYC, Yuga Labs began its expansion, successfully acquiring the CryptoPunks and Meebits series IPs in early March, followed by the issuance of ApeCoin, its token for the MetaRPG economic system, and a move for the Otherside release. Series padding and preheating.

On March 19, 2022, Yuga Labs announced the Otherside trailer in its official Twitter feed. With the rise of the topic, the prices of BAYC, MAYC and ApeCoin are also soaring. Since the release of the Otherside promotional video on March 19, the floor price of BAYC has risen from 100ETH to 145ETH, an increase of 45%. The price of MAYC has increased even more, and the floor price has risen from 19ETH to 39ETH, an increase of 100%.

Otherside: connect everything

BAYC price chart (3.19-4.29);

Image source: NFTGo.io

Similarly, ApeCoin has been rising since its release on March 17, and every time otherside-related details are officially announced, the price of ApeCoin will have a short-term linkage effect. As of April 29, Otherside officially announced that each piece of land will be priced at a fixed price. After 305 ApeCoin was released, ApeCoin also hit an all-time high of $27.

Otherside: connect everything

The price of ApeCoin linked to it, source: AICoin

Combining the initial sale of land circulation and ApeCoin price for rough calculation, the market value of Otherside will reach nearly 750 million US dollars at the end of the issuance, which will lay the economic foundation for the layout of MetaRPG in the future.

From 2D to 3D

In the trailer released by Otherside, an alien creature named “Koda” appeared. This time, 10,000 Koda will be randomly placed in the Otherside plot. In the plot of the film, Koda brought Bored Ape into Otherside and met characters such as CryptoPunks and Meebits, which may hint at some future direction of project operation: BAYC will lead other NFT IPs in Otherside under the guidance of Koda go toward success.

Otherside: connect everything

Koda data map

According to the official map, we see that Koda and Yuga Labs’ series of NFTs are different, only it appears in a 3D whole body image, so it can be speculated that Koda is Yuga Labs’ key to open the Metaverse, which means “2D→3D”. change.And as Yuga Labs’ first 3D NFT, Koda will likely become a new blue chip.

A more extensible Metaverse

Token Model and Land Application Comparison

What the Metaverse encompasses and represents is actually an ecology, not a fragmented and independent game island.Tokens are the breaches and connecting points between islands. In terms of the market value of the Metaverse concept tokens, $APE currently ranks first. Compared with the second-ranked $SAND, the total market value of $APE was nearly twice that of $SAND, which to some extent shows that people in the market have a high regard for ApeCoin. future expectations.

Otherside: connect everything

Tokens are a key factor in the economic governance of the Metaverse, and different token design models will affect users’ transaction and usage experience. The differences in design function also explain the differences in the positioning of each Metaverse to a certain extent.

Otherside: connect everything

In comparison, $SAND and $MANA of the same category mainly have the characteristics of purchase, transaction, game and governance, and $WRLD has the functions of transaction, internal ecological P2E, etc. On this basis, ApeCoin, in addition to supporting its own ecological game economic system, It can also be used as a token for other game applications, such as: Benji Bananas developed an interface for $APE payment. As more and more projects use $APE tokens as their utility tokens, the ecosystem based on ApeCoin will become more and more abundant.

Otherside: connect everything

SDK and building NFT “public chain”

It is worth mentioning that Otherside has opened the SDK for all developers to use. In this way, Yuga Labs is not limited to providing expansion solutions for its own Metaverse products, but can also provide infrastructure and rules like building blocks, and then connect various other Metaverse products in the future to create NFTs The “public chain” of the world.

In addition, native PFP IP is one of the fundamental factors for a foothold in Web3 where the Flex culture is pervasive. In the virtual world, communicating with each other through NFT identity will be more disseminated than the simple 2D avatar display of Twitter Spaces.

Otherside: connect everything

Reference map of VRChat internal meeting in SteamVR game

On top of this, give some room for imagination – if combined with the blessing of the voice system and VR equipment, users will have an unparalleled sense of experience and immersion in diversified role-playing. In addition, if other games also use the economic system of $APE, cross-game and inter-application identity interaction will also be a highlight.

A look at Yuga Labs’ layout from Otherside

BAYC is just the beginning, and if you want to make a layout in the field of Web3, the simple picture culture based on JPG is not long for the development of NFT projects. What is the future of NFT projects? The new game and Metaverse realm (MetaRPG) and entertainment economy ecology may be one of the solutions.

Joined forces

Animoca Brands, which invests in the Metaverse project, participated in the latest round of financing from Yuga Labs. Another Animoca Brands subsidiary, nWay, also announced that it will develop new games in cooperation with BAYC, and use ApeCoin as the game settlement currency.

The two teams cover multiple topics such as Metaverse, GameFi, NFT, etc. The sharing of technology and resources enables Yuga Labs to quickly catch up in the Metaverse market.

people, wealth, land

From the perspective of “everything is to build the Metaverse”, the previous operation route of Yuga Labs can be clearly understood. First build the community, then build the economy, with the two most important elements of building the Metaverse, and finally provide the scene. This makes it possible to rely on UGC to produce a lot of quality content.

Otherside: connect everything

Furthermore, in order to make the MetaRPG economic system work, it is necessary to have a currency used as a game mall, so the native token ApeCoin was launched. In order to create a more complete world composition, various fields need to be involved in the Metaverse, so many high-quality IP projects have been acquired, and Otherside can be used as a practical application scenario in the Metaverse for Yuga Labs to explore in the fields of chain game development, DAO community, etc. , thus forming a complete closed loop.

In addition, according to reports, Otherside will provide holders with a certain percentage of income based on the location layer (KYC), which can also revitalize the value of the land itself, rather than using the land as an idle asset.

IP = right to speak?

head chip

In the ranking of the total market value of NFTs, the top five CryptoPunks, Bored Ape Yacht Club, Meebits, and Mutant Ape Yacht Club are all projects of Yuga Labs. These high-quality IPs occupy the absolute dominant transaction volume of the NFT market. Trading within Otherside may also pose a certain threat to OpenSea.

Therefore, whoever owns these IPs and who owns the traffic has the right to speak in the NFT market.

Otherside: connect everything

The proportion of the total market value of Yuga Labs’ four head NFTs

Using IP as a weapon

These high-quality IPs have been verified countless times and have become the representatives of the mainstream NFT culture. They will be the weapons for Yuga Labs to expand their territory in Web3 in the future, and can be used in game development, animation production, fashion brand co-branding and other fields.

In Otherside’s trailer, many head IPs are linked, which also implies that Yuga Labs is building an IP matrix centered on BAYC, and will formulate development strategies for these IPs.

Otherside: connect everything

IP linkage in the Otherside trailer

The Metaverse is just concepts and tools

At present, multiple projects such as The Sandbox, NFT Worlds and Decentraland have entered the Metaverse real estate market through the land issuance model, and have driven the market’s attention to digital land. On the whole, many Metaverse concept projects have similar construction frameworks:

Otherside: connect everything

If the foundation of Web3 is consensus, then the establishment of the Metaverse should be mainly based on community and consensus, bottom-up, not top-down. Under the basic structure, the introduction of Otherside has revolutionized the concept of the Metaverse to some extent: identity and connection. This is something that many Metaverse projects don’t have, and it’s one of Otherside’s strengths. The source of all this is the BAYC community established by Yuga Labs.

Previously, Yuga Labs wrote in a promotional video, “That’s why we’re not building a Metaverse. We’re building an interoperable game metaworld — a MetaRPG .” In the final analysis, the Metaverse is just a concept, and the concept behind it needs the support of technology and substance, as well as the final form of expression. Many people have seen the “Ready Player One” movie released in 2018 and experienced the pictures presented in the movie through virtual reality equipment, an artificial virtual world that includes social interaction, entertainment and work. But in Web3, what we build is no longer an island of information, but a self-constructed world based on identity.

The road to decentralization still has no end in sight. The sense of immersion and interactivity still needs to be upgraded and blessed by hardware and software. The economic system supported by virtual currency also needs to be verified. A true Metaverse may still be far away from us, but with With a series of new attempts and innovations, we are also expected to see a better market model.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/otherside-connect-everything/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2022-05-04 22:47
Next 2022-05-04 22:49

Related articles