Pa Yipa BAYC’s $450 Million Metaverse Project Otherside

Yuga Labs (Bored Ape Yacht Club) today announced the completion of a new round of financing of $450 million at a valuation of $4 billion.

This round of financing was led by a16z. The participating institutions included Animoca Brands, FTX Ventures, Coinbase, Tiger Global and MoonPay, which are common in the cryptocurrency market, as well as traditional venture capital institutions including Adidas Ventures, Samsung, and Google Ventures.

Yuga Labs said that this round of financing will be used to start the game and launch its own Metaverse project: Otherside . BAYC co-creator Wylie Aronow said Otherside hopes to build a “gamified” and “completely decentralized” “interoperable world”, an MMORPG (massively multiplayer online role-playing game, MMORPG large-scale MMORPG that aims to connect the wider NFT universe) multiplayer online role-playing game).

Yuga Labs CEO Nicole Muniz said Yuga Labs is working with “a number of different game studios” to bring Otherside to life . The game will not be limited to Bored Ape holders, the company plans to create development toolsthat allow NFTs from other projects to work in their worlds .

Earlier on March 19, YugaLabs released a teaser on social media revealing the upcoming Metaverse platform Otherside in April: the teaser depicts a bored ape wearing flip-flops, a captain’s hat, and a big mouth Smoking gulps and catching a poisonous potion on a quiet pier. The world changes when the Boring Ape swallows the potion. Mutant Ape, CryptoPunk, World of Women wave to him.

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At the end of the trailer, many classic NFTs can be seen traveling on a future submarine/spaceship. Yuga Labs’ Otherside ad featured the following collections of NFTs: CryptoPunks, Cool Cats, CrypToadz, Meebits, Mutant Ape Yacht Club, Nouns, and World of Women.

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The tweet states that Otherside will be powered by @ApeCoin, which may imply that the ApeCoin token APE will play a role in Otherside. Previously, ApeCoin (APE) was allocated to owners of BAYC NFTs and will be used as the “main token” in a new gaming ecosystem from Yuga Labs and Animoca Brands.

It is worth noting that on March 11 this year, BAYC tweeted that Yuga Labs and Animoca Brands, the parent company of The Sandbox, have been planning to cooperate for seven months, and have launched the first phase and released the KYC website https: //somethingisbrewing.xyz/ (something still brewing means still brewing).

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In addition, due to the personnel overlap between Animoca Brands and Yuga Labs, it is speculated that Otherside is more or less related to The Sandbox.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/pa-yipa-baycs-450-million-metaverse-project-otherside/
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