Key Takeaways:
- The Otherside Metaverse is an immersive gameplay system supported by physics and artificial intelligence.
- The Otherside Metaverse combines a Galaxy and an archipelago with lands built across five different sediments.
- The only and easy way to join this network and benefit from its services is by actually purchasing a piece of the Otherside NFTs, Otherdeeds
NFTs and the metaverse concept have gained massive traction, especially since 2021. They have gained adoption primarily due to P2E and the recently introduced concept, M2E.
NFT holders are aware of the benefits they’ll get for owning the digital investment pieces.
One of the most well-known collections in the space is Bored Ape yacht Club, introduced by Yuga Labs in 2021 and now they’re introducing the Otherside Metaverse.
This collection of 10,000 NFTs has seen massive success within the crypto space in the past year, instantly becoming a billion-dollar ecosystem.
The BAYC Backdrop
The BAYC project hosts some of the most highly valued NFTs within the crypto space. The highest valued BAYC was sold for just about $3.5 million based on the ETH value. But, what propelled the BAYC NFT project into success?
Demand and scarcity are the two main drivers of the digital assets’ success, with a maximum of 10,000 NFTs and a growing interest among crypto enthusiasts.
The demand is growing because of the influencer support and the earlier mentioned NFT craze in 2021. Many influencers like KSI, Eminem, and others use their BAYCs as Twitter PFPs.
The story of BAYC can never really be complete without mentioning the financial support the project received from the Andreessen Horowitz firm.
The project recently raised around $450 million, with the company getting a $4 billion valuation.
BAYC: The Otherside Metaverse
The Otherside Metaverse has unique gameplay with various features designed to offer the best experience to gamers. It’s an immersive gameplay system supported by physics and artificial intelligence.
Among the top features include;
- Otherside Metaverse introduces a multiplayer feature, which is possible by using Improbable’s M2 technology.
- This network also brings around a natural voice chat that accompanies you throughout the gaming process.
- Another feature coming with this new gaming network is the ability to hold over half a billion operations per second. The network will complete NFT transfers, activities, and transactions at top speed.
- Accordingly, Otherside Metaverse will solve issues in bandwidth and rendering by using machine learning.
What Is the Otherside Metaverse?
Otherside is a BAYC metaverse launched by Yuga Labs, the founders of the Bored Ape Yacht Club. Like other metaverses, Otherside Metaverse allows participants to use NFTs as playable characters.
Basically, by holding some of the freshly launched NFT collections, you participate in the network, game in the metaverse, and develop your land.
What are Otherdeeds?
Otherdeeds is a set or collection of NFTs which was released as part of the flagship assets of Otherside Metaverse. Typically, the word deed refers to a piece of document which proves the legal rights to fixed property like land.
Otherdeeds NFTs are the keys that allow you to claim land within Otherside.
Otherside Metaverse comes with 200,000 parcels of land (Otherdeeds) and already sold 55,000 as soon as they opened the public sale and minting. Each Otherdeed has unique features representing the environment and Sediment.
Moreover, these NFTs have resources like incredible artifacts and Kodas roaming within them. The deeds are not static properties; they can be developed depending on your in-game choices.
What Constitutes the Otherside?
After exploring the whole idea of this new virtual world, it’s good to understand its most essential components. So, what are the constituents of the Otherside Metaverse?
According to the website, the Otherside Metaverse combines a Galaxy and an archipelago with lands built across five different sediments starting from the Biogenic swap, Chemical Goo, Rainbow Atmos, Cosmic Dream, and Infinite Expanse.
A Sediment has many different attributes which can quickly help improve the scarcity and bolster the demand and price of the NFTs. The first attribute is the icon which describes the details of the new piece of land you own.
Together with the frame, the icon is unique and highly descriptive of the Sediment and land you acquired.
You get a details section below the Sediment icon, focusing on in-depth information about the lands. For instance, the details section highlights the name of the Sediment and the name of the land you purchased.
Below the Sediment icon, the dynamic NFT cards show dots that highlight the rarity level of the Sediment. Depending on the number of dots, you can understand the rarity of the pieces of land. This section has five dots, each showing the rarity tier, from levels 1 to 5.
The rarity of these NFTs depends on the resources available, artifacts, and the Kodas in the land as follows;
- Resources: North, south, east, and west resources have three rarity tiers.
- Kodas: The availability of Kodas on the piece of land also improves the rarity of individual NFTs.
- Artifacts: Artifacts availability will automatically bolster the value of your piece of land.
All the three attributes mentioned above are in the dynamic NFT you purchase. Remember, not all NFTs will possess each of the resources or features.
The different types of dynamic NFTs are as detailed below:
Biogenic Swamp
Crimson Biogenic Swamp takes a spot as a dynamic NFT available at tier 5 rarity, a glass eye artifact, and Koda 2883. This is the only Sediment with all the north, south, east, and west resources. It has the Oblivion (north), Bahamia (east), Ragnarock (west) and Pestiolia (south) all at tiers 3, 3, 1, and 2, respectively.
Chemical Goo
Gold Chemical Goo is another popular NFTs treading at level 4 rarity, no Kodas, and an artifact named Mystical crown. It has north, west, and east resources, namely nocturnis, scumbria, and luminite, all at tier 2 rarity.
Rainbow Atmos
Another dynamic NFT is Shadow Rainbow Atmos, which has a tier 3 rarity with an artifact named Mecha Piece and Koda #7414. According to the web page, this Shadow Rainbow Atmos has no north and south resources, but instead holds the east and west resources.
The east and west resources are Glowpoo and Spiritseep with tier 3 and tier 1 rarities.
Cosmic Dream
Another dynamic NFT and Sediment in the ecosystem is the Swamp Cosmic Dream at rarity level two. The Swamp Cosmic dream has a unique artifact called the celestial heart, which improves its valuation.
It does not hold any west and north resources but has east and south resources, namely Pestilia and Kinsoul, which have rarity tiers 3 and 2.
Infinite Expanse
The Sludge Infinite Expanse is a tier 1 rarity NFT with an artifact in the name of a celestial egg. The current Sludge Infinite expanse has several resources in the north and east, including dimensional and Galactica with tier 3 rarity each.
The infinite expanse dynamic has no Kodas, west and south side resources, hence its NFT rarity tier.
What Are Kodas and What Do They Do?
Kodas are a part of Otherdeeds, representing creatures found in some lands within the Otherside Metaverse. You get these digital creatures by buying a piece of land that has the creatures.
There are 200,000 pieces of land but only 10,000 Kodas are available.
The creatures take the appearance of Koalas and will be an integral part of the entire Otherside game. Kodas will be like in-game characters, which compete in automated missions to go to the next level.
Accordingly, you can send them on missions and quests where they will collect artifacts, decorations, collectibles, gears, and accessories.
You can use the antiques, decorations, and other collections to develop and upgrade your creatures and the pieces of land.
The genesis Kodas are the ones that came with the project lands, but there are plans to expand.
As the genesis continues to tread the NFT market, Yuga labs will launch a second collection of the creatures in the future to improve income opportunities and gaming experience.
The Natural Materials
Otherside Metaverse has around four resources that you will harvest and use. You are allowed to use these materials to develop and shape this world.
The materials include Anima, Shard, Ore, and Root, with some rarer than others as described below;
- Ore: Ore is a resource that consists mainly of metallic materials that can all help develop. Ores are popular materials available in your pieces of land as essential parts of every building process.
- Roots: Roots are wooden materials available on the ground and can help in development.
- Shards: Stones are an integral part of building and developing, and shards are the stones in his network. Getting shards in your land allows you to develop your land within the metaverse. The virtual world has been created with enough stones to enhance the building experience for the landowners and other developers.
- Anima: Anima is a precious resource in the gaming space, allowing players to get upgrades at several points of the game. These resources will also be available in the digital world to enable you to achieve the most optimal benefits of the network.
Treasures and Tools
Of course, others may aim to purchase pieces of land to benefit from the treasures therein. This metaverse hides many treasures, tools, and rare objects around the land.
According to other sources, some of these lands cannot be crafted by any other means. Some of the artifacts you get in the lands could be holding secrets to this new metaverse.
How To Join the Otherside Metaverse
The only and easy way to join this network and benefit from its services is by actually purchasing a piece of the Otherside NFTs, Otherdeeds. As mentioned earlier, the minting of the NFTs was done fast; basically, it ended as soon as it started.
The digital assets gained immediate demand soon after launch, clogging the Ethereum network.
Reports indicate that soon after the launch, there was so much Otherdeed demand that the gas fees spiked in the entire Ethereum network.
Reports indicate that the firm sold around 5,000 pieces of land in the starting sale, generating about $300 million in revenue.
The minting sale was opened on the 30th of April, with the impact being noticeable for several days.
This is the largest Mint in the history of NFTs, and the demand was still higher than many expected. At the moment, there are a total of 96.6k Otherdeeds with 33.3k owners.
The current floor price is Ξ3.64, and the trading volume hit about Ξ229,000.
Earlier, investors thought that Yuga las would sell the parcels of land in the Dutch auction format. But, the company chose to use a fixed price of 305 Apecoin.
But, while the minting process ended days ago, you can still get the NFTs by purchasing via the OpenSea or Looksrare marketplace.
On the web page’s explore page, you can see the entire metaverse and explore the many pieces of land. If you click on the individual piece of land, you get the details of the NFTs.
For instance, a click on NFT number 26105 shows a shadow NFT with a tier 2 rarity. You also get the direct Opensea and Looksrare links on where to get the assets.
To join this metaverse, you should purchase and own at least one NFT using the following steps;
- The first step is connecting your web-3 wallet like MetaMask, Coinbase, or Walletconnect.
- The second step is clicking on the piece of land you want and opening from Either OpenSea or Looksrare. You can read more about the parcel of land and its price history on such pages. You can view the prices if the asset is already on sale. For instance, NFT 26105 was not yet on the listing when writing this report.
- Once you buy the NFT, you can store it in your wallet and follow the path to enter the Otherside Metaverse.
How Apecoin Reacted to the Mint
Apecoin was used as the primary currency to mint Otherdeeds. The decision to change from Dutch auction to fixed price caused a reduced demand in $APE, effectively leading to price plunges from ATH to about $16. So, what does the future hold for this metaverse token?
From the start, $APE will be a vital part of the entire network, used in the following ways;
- Purchasing the NFTs from the marketplaces
- Settling transaction fees
- Rewarding passive incomes to Kodas as the games continue
- Minting of new NFTs
These new use cases increased demand for $APE, causing the price surge from merely $7 in March to $26 at the start of May. If the demand and use cases for $APE continue to increase, the coin could hit $50 in the long term.
LEARN MORE: Complete Dive Into ApeCoin And Its Utility
What Does the Future Hold for the Otherside?
After its debut, the Otherside metaverse, especially Otherdeeds, gained speedy adoption. But what does the future hold for this metaverse project?
Yuga labs have the financial backing of Andreessen Horowitz and partners with networks like Improbable and Animoca. Hence, there are endless possibilities surrounding the Otherside metaverse, Otherdeeds, and Kodas.
At the moment, however, Otherdeed holders should enjoy participating and developing this new virtual world until it achieves the success of BAYC.
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