The first trip to the Otherside was a success. Several users participated in the metaverse demo of Yuga Labs’ latest initiative. The latest project by the creators of Bored Ape Yacht Club, Otherside is a gamified metaverse that blends elements of role-playing games and web3-enabled virtual worlds. Meanwhile, Otherdeeds – the NFTs of this project – surpassed $1 billion in sales.
The First Journey
The first trip of the Otherside metaverse project attracted over 4,500 participants. Entering the metaverse was finally made possible for Otherdeed NFT owners on July 16.
The participants, known as voyagers, entered an empty virtual lobby with their avatars. They were then led by a giant Bored Ape through a portal into a vibrant land. Upon arriving in the new location known as the Biogenic Swamp, they went into a stadium. This allowed them to test out character controls, such as jogging, jumping, dancing and emojis.
Several other areas were open for the Voyagers to explore, featuring enormous animals that would attack the avatars if they got too close. This also enabled them to interact and be immersed in the new world.
Yuga Labs have stated that there will be many such trips to the Otherside during their testing phases. These will be staggered and conducted at different times to accommodate as many Voyagers as possible. To qualify as completing the first trip stage, you have to participate in one of the trips or tune into the official Livestream.
In the early stages of testing, only Otherdeed owners and third-party developers will be allowed access to the metaverse. By being involved in the playtests and demos, Voyagers will be able to provide valuable feedback on the software kits and building tools. They will also be able to influence decision-making due to the open nature of development.
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Lite paper Launch
Alongside the launch of the demo, Yuga Labs also unveiled the lite paper for the project. This indicates the direction the project will take in the future and the core principle on which they operate.
The lite paper describes that the development of Otherside will be broken down into 3 phases. Only the first phase has been outlined so far. It includes an 11-part storyline adventure about a mysterious obelisk that appears in the Otherside universe.
This phase will allow you to team up with other Voyagers, customise your Otherdeed and discover how to interact with the world around you. Voyagers will thus shape the state of the game through events, tests and being co-developers.
The Otherside community is based on three core pillars, as outlined in the lite paper.
- Built For and by The Community: “We aim to incentivize, empower, and recognize the expression, creativity, and ingenuity of Otherside’s community of contributors.” The team is committed to a transparent approach for users to participate in the development of the platform directly. This includes access to software development kits and in-game tools.
- Genuine Ownership and Interoperability: An Otherdeed NFT isn’t just a simple plot of virtual land. It is also your key to participating in the community. Thus, you have genuine ownership over your plot of land in-game. The game will also support interoperability, which will allow you to bring your various NFTs to life in the metaverse.
- Real Incentives and Support: Voyagers and developers will have a chance to network with peers and industry professionals to bring their visions to life. The platform will also seek to connect its user base with firms in the industry for education, experience and leadership.
Tokenomics and Otherdeeds
Otherdeeds launched in May 2022, and in just a few months have seen over $1 billion in sales. It is one of the highest-selling NFT projects in the world. Yuga Labs has also seen a strong presence in the top 10, with their other projects Bored Ape Yacht Club and Mutant Ape Yacht Club at third and fourth place respectively.
There are a total of 200,000 Otherdeeds available currently. Only 100,000 were first offered for sale, while the other half are reserved as rewards for Voyagers and developers. Otherdeeds currently have an average price of $5,700, with the most expensive Otherdeed being sold for $1.5 million.
The token used by the Otherside ecosystem is known as ApeCoin. It is an ERC-20 governance and utility token controlled by the ApeCoin DAO. To gain access to this community, all you have to do is become an ApeCoin holder.
Since the demo on 16th July, ApeCoin price has risen over 50%. It has a market cap of over $2 billion and a max supply of 1 billion tokens.
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Otherside has created an impressive first trip into their metaverse. It has been received wonderfully by users who got a chance to participate. Additionally, their lite paper showcases a commitment to transparency and community engagement, which is sure to create a fantastic experience in their metaverse.