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This obligation is related to the original sale being at much higher prices. ApeCoin slides 40% in three days despite Otherside metaverse land sale here's why APE/USD -4.32% ApeCoin ( APE) caught its bulls off-guard with APE price losing nearly 40% in just three days.. Every land NFT has a unique mix of environments, sediments, resources (or lack thereof), etc. May 01, 2022 5 months ago. Otherside is a metaverse that is still in evolution. They released 55,000 Otherside land plots, bringing the total mint value to over $300 million. 100,000 plots were allocated and sold in the first wave, and the next 100,000 plots of . Yuga Labs Could Net $400M From . The announcement regarding the project came a day after the launch of ApeCoin ($APE). It is worth mentioning that the Otherside project is not the ordinary 8888 PFP or 10k project, all the 55k plots of . Otherside Land Sale. Bored Apes supplied plots #0 to #10,000 for this sale, which is the closest to the metaverse's middle. /money/how-to-buy-the-otherside-land-bayc?itm_source=parsely-api The Otherside website provides the following useful information about the sale of land plots in the Otherside metaverse: " The Otherside contains 200,000 unique plots of land that can be claimed with Otherdeeds when Otherside launches. The land sale offered buyers the chance to buy a plot in the Otherside metaverse for around $5,800, plus transaction fees. Brief History of The Otherside Metaverse Even though the initial sale for the Otherside metaverse is on April 30th, 2022, these NFTs are actually "Otherdeeds." This leads us to believe the actual. Otherside sold 55,000 plots of land at 305 $APE each, generating $300 million from direct sales and $300 million from resales on OpenSea. Growth this quarter was primarily driven by the creation of Otherside, developed by Yuga Labs (of Bored Ape Yacht Club fame). While the Otherside land sale generated approximately $285 million for the company, it also resulted to some of the highest gas fees in the history of the . The minting was supposed to be held exclusively in ApeCoin, so the price of it pumped up to $27 USD. First, you need a web3 wallet such as MetaMask. Yuga Labs and Bored Ape Yacht Club released some detaails for their upcoming Otherside NFT mint that will be happening on 4/30. As reported earlier, the funding round was led by Andreessen Horowitz, which valued the firm at $4 billion. It's billed as the metaverse land sale to crown them all and its success might as well define the performance of future web 3 games. The cost of each parcel of land is 305 APE, which is approximately $ 5,000 at the time of writing. Now, all plots of land in the metaverse world will be sold for a flat price of 305 ApeCoin, according to Otherside's Twitter account. This is a historic moment for us all and a big step in scaling Ethereum to it's first billion users. virtual land that can be bought and sold. Otherside is a metaverse project developed by Yuga Labs. OtherDeed's NFTs are used to claim land in the Otherside . The collection gained popularity during the launch as it offered ApeCoin holders much-needed utility. Yuga Labs, the team behind Bored Ape Yacht Club, held its much anticipated digital land sale on Saturday evening, marking the debut for their metaverse project called "Otherside.". If the land parcels tank once reality sets in there will be many angry investors. $450 Million Funding Round Yuga previously secured $450 million in a seed round last month for developing the Otherside metaverse. record-breaking $320 million in the sale. Business News Report. The OtherDeed collection, launched also by Yuga Labs, has surpassed $1 billion in sales. It was Yuga Labs that developed the Bored Ape Yacht Club NFT. Yuga previously secured $450 million in a seed round last month for developing the Otherside metaverse. From the creators of Bored Ape Yacht Club. Moreover, within 45 minutes post launch, around $100 million worth of plots on the Otherside Metaverse is sold. In another tweet, the team's founders noted what an "insane year" it has . Virtual land within the Otherside metaverse will go on sale via dutch auction very soon. The Otherside land drop When was the first Otherside land drop? The founders of the Bored Ape Yacht Club say they'll generate up to $300 million in cryptocurrency by selling land in the metaverse this weekend. The land will be exclusively for sale via ApeCoin ($APE), the ecosystem's native token that was released just over a month ago. Otherdeeds were to be minted in Bored Ape Yacht Club's native token, ApeCoin. The Sandbox and Decentraland are two popular examples of similar projects. On the Otherside website, it states: "Land owners are creators, and can participate in demos, prototypes, test builds, in-person events, and contests that help bring the Otherside to life."The metaverse is built in partnership with Animoca Brands and Improbable. The remaining 100,000 Otherdeeds will be distributed to Otherdeed holders based on contributions during the game's testing phase. Now, in the first public announcement about Otherside since the trailer's release, Yuga is revealing plans for a land sale on April 30. $450 Million Funding Round Yuga previously secured $450 million in a seed round last month for developing the Otherside metaverse. The announcement also led the price for one APE to climb to over $18 . What is the Otherside Metaverse? Other participants include Animoca Brands, Coinbase, and MoonPay. Previous Post Next Post Decentraland ranks second with about $378.6 million, and The Sandbox ranks third with $227 million in cumulative sales value. Many speculations regarding the Otherside project started making the rounds. Bored Ape Yacht Club (BAYC) members have been invited to hang out in Otherside when it launches in April. Your Otherdeed is your key to helping build the metaverse. ApeCoin's spectacular crash. The first 100,000 Otherdeeds are available on April 30, 2022. As reported earlier, the funding round was led by Andreessen Horowitz, which valued the firm at $4 billion. What is the Otherside? Not saying it will happen but not good for business. Blockee has 5,921 virtual properties for sale in the Metaverse. Powered by ApeCoin and shaping web3 through storytelling, experiences, and community. . Decentraland $ 0.704422 +0.60% Hedera $ 0.058120 +1.11% Elrond $ 55.20 +0.21% The Sandbox $ 0.858060 +1.65% Tezos $ 1.43 +0.01% Aave $ 79.19 +2.40% EOS $ 1.18 +0.02% Axie Infinity $ 12.89 +1.30%. It's not too much to say that the Otherside metaverse land sale was a success. On Saturday, Yuga Labs, the creator of popular NFT collection Bored Ape Yacht Club, launched a sale of virtual land deeds for its yet-to-be released, highly anticipated metaverse project,. Markets Analysis. Source link Up Next Don't Miss Real Estate in the Web3 space Bored Ape 's metaverse 'Otherside' opened for business 12pm ET on April 30 th with Otherside's official Discord amassing more than 76,000 members keen to sign up and buy prior to the sale. Each NFT went for 305 APE apiece, which was just under $20 at the time of the mint, and the drop brought in over $310 million for Yuga Labs. The Yuga Labs team prioritizing this makes a ton of sense another 100k land is dropping in a few months and it would be much easier for them to reason charging more in the next sale if the existing floor of land is higher. The creator of Bored Ape Yacht Club is about to sell $300 million in metaverse land for its game "Otherside." Yuga Labs will issue digital "deeds" for up to 55,000 plots of metaverse property. In this video, we will break . As mentioned above, the BAYC tweeted news of its "Otherside" launch on its first anniversary. ApeCoin (APE-USD) tore through April with aggressive gains and a lot investor interest.This hype culminated with the weekend's Otherside metaverse land sale, which has proved to be a wild . Business 2 Community . Instead of going forward with the Dutch auction, the team chose to sell Otherdeeds plots for 305 ApeCoin per plot. BAYC's Otherdeed NFT Surpasses NBA Top Shot Sales Volume, Hitting $1B Within Four Months of Launch . According to Otherside's Twitter announcement, Otherside's upcoming mint will have a flat mint price of 305 APE per NFT The land sale will start on Apr 30, 2022. Otherdeeds are virtual land deeds that allow you to claim a plot of land in the Otherside metaverse. We will break. On April 26th, the mechanics of the minting was shared on the official Twitter page of the project. They might mint Otherside plots close to the Bored Ape Membership Home, that too without cost. The Otherside is part galaxy and part archipelago, with islands extending from the Biogenic Swamp at the center and roiling outwards to the Infinite Expanse. However, the decision is now withdrawn as it fails to mediate demand and does not mediate gas wars. The fact that this record-breaking sale of a rare Otherdeed happened on two-month-old NFT marketplace X2Y2 comes as a surprise. As the Financial Times . Of course, this news is a major moment for the APE crypto . The demand for Otherside land generated an astonishing $317M in primary land sales on May 1, and continued to generate . Then head over to the Otherdeed for Otherside store on OpenSea, and connect your MetaMask wallet. The BAYC Otherside land was available for the public on April 30, 2022. The team behind the Bored Ape Yacht Club, Yuga Labs, had announced the Otherside project in March 2022. Following Saturday's Otherside sale, ApeCoin crashed from $24.86 to $16.73, according to data from Coingecko. Will Bored Apes top the NFT charts in 2022? Congratulations to the entire Ethereum team on a successful merge. A tweet from the Official Otherside account gave links to a "know your customer" form allowing those who complete their details . The Otherside metaverse Discord is also now open. After the original trailer launch on March 19th, fans of the Bored Ape Yacht Club NFT collection were extremely hyped. Due to the clear value drops in Otherside land, Yuga Labs will now be subject to a giant tax obligation and owes the IRS a lot of money. (A single Otherside NFT currently costs about $11,000 on the secondary market.) The users would still need some ETH for gas fees. Here are the facts of the 100k Otherside land deeds at public sale: 55k deeds of land sold out in 2,5 hours at 300 ApeCoin each (at the time of sale over $300 million) 15k deeds Airdropped to Investors and Team; 35k deeds free mints for BAYC & MAYC holders; 60,234 ETH (~ $168 Million) in gas burned; During public sale, each KYC'd wallet could . Equally, Mutant Apes supplied free land minting for plots #10,000 to #30,000. The Otherside metaverse is an usual, diverse and colorful landscape. OtherDeed comprises an impressive 100 thousand NFTs and currently on OpenSea exceeds 320 thousand Ethereum in trading volumes, which includes all trades between the primary and secondary markets. By selling 55,000 plots of Otherside land, the Otherside metaverse virtual land sale garnered about $320 million. There are 200,000 parcels of land within The Otherside metaverse. You can start minting plots of Otherdeeds here. The virtual land sale is believed to be the largest of its kind, according to Bloomberg, which calculated the total proceeds at $320 million. The Otherside metaverse virtual land sale raised close to $320 million by selling 55,000 parcels of Otherside land. As reported earlier, the funding round was led by Andreessen Horowitz, which valued the firm at $4 billion. It claims interoperability and is a massively multiplayer online role-playing game (MMORPG). The company generated more than $317 million from the NFT mint. What are Otherdeeds? . Users will still need to have some Ethereum to pay for gas fees. The mechanics of this drop is shaping to really encourage very strong secondary price appreciation post launch. A Rundown of the Otherside (Ape Metaverse) The highly anticipated Bored Ape Yacht Club (BAYC)'s metaverse land sale Otherside is premiering today after weeks of anticipation. If, as metaverse boosters like Mark Zuckerberg predict, the creator economy really does move into virtual online. The result is that Otherside effectively comes with a baked-in class . Compare prices, view sales history, and use our detailed real estate filters to find & buy land. The event opened up the sale of NFT-based deeds (called "Otherdeeds") to digital land within this yet-to-launch environment. Since the Otherside metaverse land sale already took place last April 30, 2022, the only way you can buy Otherdeeds is through secondary marketplaces like OpenSea. Metaverse Real Estate & Property For Sale (5,921 Listings) One prominent Ape investor, Jimmy McNelis, boasted about using paying just .88 ETH in fees to claim 144 Otherside land parcels. The land sale in The Otherside Metaverse took place early today, sold out within minutes, and sold over $ 200 million in ApeCoin's next Metaverse virtual estate. Posted on April 29, 2022. From one standpoint, the Otherside digital land sale was a success. Other participants include Animoca Brands, Coinbase, and MoonPay. Most market experts believe ApeCoin's rally was driven by the expectation of a land sale in "The Otherside" metaverse. Could ApeCoin Continue Declining After Otherside Metaverse Land Sale? The secondary characteristic of each Otherdeed NFT is the sediment type on which the land is built. In a Dutch auction-style sale, the price is determined after taking in all bids to reach the highest price at which the total offering can be sold. It features virtual worlds where the players own the world through NFTs and playable characters in real-time. By. The concept of digital land in the metaverse isn't new. The first minting wave occurred on April 30, 2022, when 100,000 out of 200,000 Otherdeed NFT lands were auctioned. Otherdeeds were first made available to buy and . The Gas Fee Fiasco & Free Mint Though Otherside got the NFT space really excited, the project had a rather turbulent takeoff. Leaked slides from a BAYC metaverse presentation stated that 200,000 land plots of virtual land in Otherside will be up . To do so, users need to obtain Otherdeed NFTs, which are crucial to claiming land in the Otherside metaverse. Even though the initial sale for the Otherside metaverse is on April 30th, 2022, these NFTs are actually "Otherdeeds." This leads us to believe the actual land won't be playable on release, and that there will likely be a land reveal later down the line. Otherdeed for Otherside has the largest total cumulative value of land sales in metaverse real estate, coming in at roughly $853.6 million at the time of publication, according to Dune Analytics. It also provides them with an opportunity to invest and earn through 'Otherdeeds', i.e. The Otherside Metaverse saw sales worth $561 Million within 24 hours of its public sale. 0:00 - 2:43 Bored Ape Metaverse & Land Sale (Intro 2:44 - 5:01 Official Announcement Breakdown 5:02 - 6:51 The Leak has been accurate so far 6:52 - 10:02 Otherside Metaverse Land Sale 10:03 - 11:38 Land Types 11:39 - 13:25 NFT Compatibility & Metaverse SDK to create NFTs 13:26 - 14:10 Land Resources, Artifacts, & NFT drop Otherside is a 3D metaverse that appears to offer a gaming format for Bored Ape NFT holders. Created in partnership with Animoca Brands, Otherside will be powered by ApeCoin. Over the weekend, Yuga Labs, the NFT creators behind the glitzy Bored Ape Yacht Club, released a teaser for what looks like a forthcoming metaverse called "Otherside": See you on the Otherside . The team emphasized that users should only refer to the official Twitter account for news regarding the project. Previously, Yuga Labs planned to conduct a Dutch auction for land sale in the Otherside metaverse. Similar to other Metaverses such as Decentraland and the Sandbox, the Otherside Metaverse offers users the chance to build and shape their own experiences. Markets News Report. There is a total of 200,000 land plots. Otherside Metaverse Sees $320 Million Raised, Ether Fees Spike, Etherscan . It consists of 200,000 plots of "land" that are available through the purchase, or minting, of so-called. Some speculate that Otherside land won't be homogenous, and that there will rather be seven or eight distinct types of land . Otherside This has attracted a lot of interest, especially as it was . June 12, 2022. Now, BAYC aims to move ahead into the metaverse with the Otherside project. That's equal to about $6,957, as of ApeCoin's price on Thursday. approximately between $5,000 and $11,000 each as of late April 2022with the next 100,000 plots set to go on sale in August. Land owners are creators, and can participate in demos, prototypes, test builds, in-person events, and contests that help . On Saturday, the creators of Bored Ape Yacht Club (BAYC), Yuga Labs, revealed the Otherside metaverse virtual land sale which turned out to be one of the largest non-fungible tokens (NFT) mints to date. Initially, Otherside was to sell its Otherdeeds through a Dutch auction, but instead opted to limit the number of NFTs that could be held in a single wallet. 11 Oct 2022 18:02:33 The metaverse land available for sale is called the Otherdeeds. Each parcel is represented by its Otherdeeds token - tradeable on OpenSea - and each piece of land has one or more of the four resource types we listed above. To participate in the Otherside Metaverse, you must first buy or mint Otherdeeds NFT lands. RT @DegenSoul: I have mentioned numerous times the Otherside Metaverse "land" sale was dangerous. Otherside is a metaverse game that is currently under development. 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