Key Takeaway

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• Recently, projects under Yuga Labs, such as BAYC, MAYC, and ApeCoin, have seen relatively large increases, creating a good market start for Otherside. Koda 3D PFP in Otherside will have the potential to become a new blue chip.

• Otherside is assisted by independent SDK software, which improves the customization imagination space inside MetaRPG. Focusing on the infrastructure, economic model, and cross-game layout, Otherside may connect various other metaverse products in series in the future to create the "public chain" of the NFT world.

• Yuga Labs' top-quality Collection occupies more than 20% of the market value of the entire NFT market. The right to speak of these IPs will serve as Yuga Labs' weapon to build a world based on identity.

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Since its release in April last year, BAYC has gone through a whole year. During this period, Yuga Labs has been grasping the rhythm of the market and constantly breaking people's expectations. Through multiple innovative attempts, it not only satisfies the star's demand for the "Web3 social upstart" status, but also brings huge dividends to other ordinary holders: membership privileges, community benefits, well-known fashion brand linkage, etc. The community draws consensus from different groups of people, and finally forms the core spirit - openness and co-creation.

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Community culture communication display

On March 19, 2022, Yuga Labs announced the Otherside trailer on its official Twitter. Along with the rise in popularity of the topic, the prices of BAYC, MAYC, and ApeCoin are also soaring. Since the release of the Otherside promotional video on March 19, the floor price of BAYC has risen from 100ETH to 145ETH, an increase of 45%. The price of MAYC has increased even more, and the floor price has risen from 19ETH to 39ETH, an increase of 100%.

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Image source: NFTGo.io

Similarly, ApeCoin has continued to rise since its release on March 17, and every time the details of Otherside are officially announced, the price of ApeCoin will have a short-term linkage effect. After 305 ApeCoin was released, ApeCoin also hit a record high breaking through $27.

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Based on a rough calculation based on the land circulation of the first sale and the price of ApeCoin, at the end of the issuance of Otherside this time, it will reach a market value close to 750 million US dollars, which will lay the economic foundation for the subsequent layout of MetaRPG.

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In the trailer released by Otherside, an alien creature named "Koda" appeared. This time, 10,000 Kodas will be randomly placed in the Otherside plot. In the plot of the film, Koda brought Bored Ape into Otherside, and met characters such as CryptoPunks and Meebits, which may hint at some future project operation trends: BAYC will lead other NFT IPs in Otherside under the guidance of Koda go toward success.

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According to the official picture, we can see that Koda and Yuga Labs' NFT series are different, only it appears in a 3D whole body image, so it can be speculated that Koda is the key for Yuga Labs to open the Metaverse, and it means "2D → 3D" change. As the first 3D NFT of Yuga Labs, Koda may become a new blue chip.

A more scalable Metaverse

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Token Model vs. Land Application

What the metaverse includes and represents is actually an ecology, not a separate independent game island. Tokens are the breakthroughs and connection points between islands. In terms of the market value of metaverse concept tokens, $APE currently ranks first. Compared with the second-ranked $SAND, the total market value of $APE was once nearly twice that of $SAND. future expectations.

In comparison, $SAND and $MANA of the same category mainly have the characteristics of purchase, transaction, game and governance. $WRLD has the functions of transaction and internal ecological P2E. On the basis of this, ApeCoin, in addition to supporting its own ecological game economic system, It can also serve as a token for other game applications, for example: Benji Bananas has developed an interface for $APE payment. When more and more projects use $APE tokens as their utility tokens, the ecology based on ApeCoin will become more and more abundant.

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SDK and building NFT "public chain"

In addition, native PFP IP is one of the fundamental factors for a foothold in Web3 where Flex culture is everywhere. In the virtual world, communicating with each other through NFT identities will be more communicative than the simple 2D avatar display of Twitter Spaces.

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On top of this, give some room for imagination - if combined with the blessing of the voice system and VR equipment, users will have an unparalleled sense of experience and immersion in diversified role-playing. In addition, if other games also use $APE's economic system, identity interaction across games and applications will also be a highlight.

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BAYC is just the beginning, but if you want to make a layout in the Web3 field, the pure picture culture based on JPG will not last long for the development of NFT projects. What is the future of NFT projects? The new game and metaverse field (MetaRPG) and entertainment economic ecology may be one of the solutions.

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Joined forces

The two teams cover multiple themes such as metaverse, GameFi, NFT, etc. The sharing of technology and resources enables Yuga Labs to quickly catch up in the metaverse market.

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people, money, land

From the perspective of "everything is to build the metaverse", we can clearly understand the previous operation route of Yuga Labs. Build the community first, and then build the economy. It has the two most important elements to build the metaverse, and finally provides the scene. In this way, a large amount of high-quality content can be produced by relying on UGC.

In addition, it is reported that Otherside will provide holders with a certain percentage of income based on the location layer (KYC), which can also revitalize the value of the land itself instead of using the land as an idle asset.

IP = right to speak?

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head chips

Therefore, whoever owns these IPs and traffic has the right to speak in the NFT market.

The total market value of Yuga Labs' four head NFTs

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Using IP as a weapon

In this trailer of Otherside, many leading IP linkages also hint that Yuga Labs is building an IP matrix centered on BAYC, and will formulate development strategies for these IPs.

IP linkage in Otherside trailer

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The metaverse is just a concept and a tool

At present, multiple projects such as The Sandbox, NFT Worlds and Decentraland have entered the metaverse real estate market through the land issuance model, and have driven the market's attention to digital land. On the whole, many metaverse concept projects have similar construction frameworks:

If we say that the basis of Web3 is consensus, then the establishment of metaverse should be mainly based on community and consensus, bottom-up, not top-down. Under the basic structure, the introduction of Otherside has revolutionized the concept of metaverse to some extent: identity and connection. This is not available in many metaverse projects, and it is also one of the advantages of Otherside. The source of all this is the BAYC community established by Yuga Labs.Previously, Yuga Labs wrote in the promotional video, "This is why we don't build a metaverse.We are building an interoperable metaworld of games - a MetaRPG

In the final analysis, the metaverse is just a concept. Behind the concept, it needs technical and substantive demand support, as well as the final form of expression. Many people have watched the movie "Ready Player One" released in 2018, and experienced all the content in the movie through virtual reality equipment. The picture presented is an artificial virtual world that includes social, entertainment and work. But in Web3, what we build is no longer isolated islands of information, but a self-constructed world based on identity.