Yuga Labs will launch the Otherside metaverse on April 30. Over the past day, sales of non-interchangeable tokens of the BAYC and MAYC collections have increased by 18% and 108%, respectively.
The studio announced Otherside in March 2022. Yuga Labs did not disclose the details of the project, but the characters of the collections BAYC, MAYC, CryptoPunks and Meebits appeared in the video published at the time. The company bought the rights to the last two in the same month.
After the announcement, the presentation of Yuga Labs leaked to the network. In the document, the authenticity of which the company has not confirmed or denied, much attention is paid to MetaRPG — a role-playing game combining NFT from previously launched collections.
According to the presentation, holders of non-interchangeable tokens will be able to use them as game characters. The team will also release an SDK allowing content creators to design their own NFTs.
The metaverse will allegedly consist of 200,000 plots of land, but at the initial stage, the developers will release only half. 30% will be distributed during the airdrop among the holders of BAYC and MAYC. The remaining tokens will be put up for sale.
Each plot has a number of unique characteristics. When buying territories, users will have a chance to get one of the 10,000 unique NFTs of the new collection — Kodas.
According to CryptoSlam, sales of BAYC and MAYC increased significantly after the announcement. Average NFT prices from these collections have updated historical highs at 135 ETH (~$398,600) and 35.5 ETH (~$104,800).
Associated with the Yuga Labs ecosystem, the ApeCoin token, which is expected to play a key role in the upcoming metaverse, has grown by almost 30% over the past week, according to CoinGecko. At the time of writing, the asset is trading near $16.58.
Recall that in March Yuga Labs raised $450 million from Andreessen Horowitz, Animoca Brands and other investors. The company was valued at $4 billion.