According to analytics source DappRadar, Bored Ape Yacht Club is one of the largest NFT collections on Ethereum, with a total trading volume of $1.41 billion.
Many of the top-selling BAYC artworks are worth more than a million dollars, and their owners involve celebrities such as Jimmy Fallon, Serena Williams, and Paris Hilton.
“See You On The Otherside”
Yuga Labs, the creative team behind the well-known collection, dropped on Saturday March 19 a teaser for a new project dubbed “Otherside.”
The trailer was featured on Yuga Labs official Twitter account and quickly shared across multiple social networks.
As highlighted by Yuga Labs, the project is set to launch in April 2022.
See you on the Otherside in April. Powered by @apecoin pic.twitter.com/1cnSk1CjXS
— Yuga Labs (@yugalabs) March 19, 2022
Coincidentally, Bored Ape Yacht Club also launched in April 2021. If the team sticks to the timeline, the next release of Otherside could also be to celebrate the one-year milestone of the project.
It’s most likely arriving soon and holds enormous promise to shake the NFT community. At the time of publication, the teaser had garnered over 1.5 million views in less than 24 hours.
The teaser features a multitude of popular NFT collections such as Mutant Ape Yacht Club, Cool Cats, CryptoPunks, CrypToadz, Meebits, Nouns, PineapplePoS and World of Women.
The opening drinking scenario is also reminiscent of the Mutant serum from the Bored Ape Chemistry Club collection, which is presently on virtual display in Otherside.
Animoca Brands, a game software company, announced a strategic partnership with BAYC for a new P2E game on March 16.
It’s unclear whether the Otherside teaser is a part of the partnership.
The Sandbox’s creator, Metaverse, stated:
“Animoca Brands is excited to announce that we’ll be adopting @ApeCoin for the secret project we’ve been developing with @BoredApeYC.”
Metaverse, Game Experience or NFT Marketplace?
Kicking off in April 2021, Bored Ape Yacht Club is now one of the most valuable NFT collections in the world. T
he project has driven mass adoption from celebrities and high-profile figures, specifically Justin Bierber, Eminem, Timbaland, Snoop Dogg, Paris Hilton and many more.
Aside from celebrity backers, Bored Ape Yacht Club is rapidly becoming an off-chain label.
The project collaborated with Adidas for its first NFT initiative, a BAYC mobile game which was released in January, and an ape from the Club featured on the cover of Rolling Stone magazine last year.
The Ape team has marched forward with the launch of the ApeCoin (APE) under an airdrop campaign on March 17 2022.
APE will be the official coin of ApeCoin DAOand can also be used as a payment currency in the Bored Ape Yacht Club ecosystem. The ApeCoin has been a controversial topic recently due to price volatility.
According to the latest news, the iconic news publisher TIME magazine has just adopted ApeCoin, adding to its list of acceptable coins also including Bitcoin, XRP, Ether and Dogecoin.
The trailer for Otherside has sparked a lot of speculation among the project’s followers and the crypto community as a whole. Many people believe Otherside is a 3D gaming experience, while others say it is a new NFT marketplace.
The definition of Otherside appears to be left on the community’s side. But its strategy is crystal clear.
Yuga Labs intends to expand the platform; a BAYC metaverse compatible with a variety of NFTs is on the way.
The selling of virtual land is the first step in a larger endeavor to diversify revenue from the sale of NFTs. These land plots will have unique elements such as natural resources, artifacts, and rare characters.
In addition, the February plan mentioned the construction of an in-game app store, which would allow users to create and own characters in the form of NFTs and use them in the game.
In a word, the BAYC metaverse is an all-in-one virtual environment made up of various key players that can become anything we can imagine.