Who Owns The Otherside Metaverse & How Does It Work?

According to the official Otherside Metaverse website…

The Otherside Metaverse is a gamified, interoperable metaverse currently under development. It blends mechanics from massively multiplayer online role-playing games (MMORPGs) and web3-enabled virtual worlds to create a high quality virtually engaging experience for all.

BAYC

The Bored Ape Yacht is one of the biggest if not the biggest NFT collections to hit the market in the past few years. It includes over 10,000 algorithmically generated NFTs of ape figurines.

The Bored Ape Yatch NFT has been so successful that some of its NFTs now sell for millions of dollars at a go with thousands of other bidders competing for a particular art piece.

This success eventually led Yuga LABS the creators of the Bored Ape Yacht Club (BAYC) to expand their domain and create a digital world in which holders of the NFT can interact with themselves in virtual reality.

This is where Otherside Metaverse comes in.

What is the Otherside Metaverse?

Yuga Labs’ successes over the years of 2021 – 2023 were hugely dependent on them buying and owning the rights to other NFT collections and even starting their own cryptocurrency called Apecoin.

The Otherside Metaverse will use the default cryptocurrency developed by YugaLabs called Apecoin for in-game activities which are mainly transactions.

Before setting up Otherside Metaverse, Yuga Labs creators specifically invested $450 million to build an “NFT Metaverse” which will mainly house the holders of any NFT developed by Yuga Labs.

The creation of the Otherside metaverse is also handled by another company called “Animoka Brands”. This is interesting because they are one of the biggest metaverse development companies out there right now in the whole world.

While some people say that since the Co-founder of Animoka Brands “Yat Su” is part of the Board of Apecoin, there are possibilities that Otherside Metaverse and Sandbox might just be integrated together since they were developed by the same metaverse development company.

The Otherside Metaverse boasts that there will be more technologically advanced than any other online metaverse indirectly throwing shades at the Mark Zuckerberg metaverse. They also claim that the Otherside metaverse will be one of the first metaverses to host over 10,000 users in a single space at a time.

These claims have been met skeptically by various people with concerns such as the number of emissions that will be made because of the bionic waste that will be created by the hosting of these large amounts of players at a time.

Yuga Labs has also made some claims that they will be able to process half a billion operations per second in the metaverse.

From my point of view, all of these claims are very bold so it will be interesting to see if they would be able to pull it off and be a huge success.

How do you play the Otherside Metaverse?

To become a part of this metaverse, players must obtain the Otherdeeds NFT which is essentially virtual plots of land that have a set of resources and artifacts and are also known as Coda.

These plots of land are built upon five different sediment types all of which span from the center of the map which holds the BAYC center.

One special thing about these plots of land in the Otherside Metaverse is that they develop and change based on the owner’s progress. The developers really paid attention to detail in ensuring that every player and avatar gets character development since most of the other metaverses do not have this kind of feature.

In this metaverse, special resources are necessary for every player wishing to get involved in Otherside. These resources are usually obtained when you’ve purchased the Otherdeeds NFT and accessed the metaverse.

There are four main resources in otherside namely:

1. Anima

2. Shard

3. Root

4. Shard

These resources are going to be used to get in-game items like a token which every user in the otherside metaverse will make use of to complete missions and tasks.

According to the Otherside website, these otherdeeds will also contain rare and unique artifacts and codas which are highly sought rarities in the metaverse.

Who owns Otherside?

Otherside Metaverse is a metaverse created and owned by Bored Ape Yacht Club and Yuga Labs co-founders Wylie Aronow and Greg Solano.

The metaverse was created as an extension to show what the Bored Ape Yacht Club founders “Yuga Labs” were capable of doing in the web3 space.

Last year, Yuga Labs’ alone raised up to $450 million dollars for the development of otherside metaverse where the holders of Otherdeeds NFT could meet and interact in real-time but without limitations

Although the metaverse hasn’t been released fully to the public, there have been some  beta tests and sneak peeks into what we could be expecting from the otherside metaverse alone

See also: What is the Bored Ape Yacht Club?

How do I buy Land on Otherside?

Wrapping Up