The NFT ecosystem was set agog last weekend when Yuga Labs launched its Otherdeeds metaverse product, and now a little over a week after its launch, it has a recording-breaking sale
Yuga Labs in the Metaverse
Yuga Labs is a company that needs no introduction; as the entity behind the Bored Ape Yacht Club series, this company has been one of the biggest winners of the NFT surge over the last few months.
In more ways than one, the BAYC collection is the face of the NFT space, and when a lot of people outside the NFT space think about NFTs, BAYC is what comes to mind. Naturally, as the company behind the most successful NFT collection to date, Yuga Labs is doing well, and recently the company launched Otherside, its metaverse project.
During the last weekend of April 2022, it’s safe to say that BAYC shook the entire NFT ecosystem with the launch of its Otherside project.
Otherside is Yuga Labs gaming metaverse project; it launched a few days ago when the company sold 55,000 Otherdeeds which are unique plots of land required to claim space in Otherside.
The 55,000 Otherdeeds made available during the project’s launch are just the tip of the iceberg; by the end of it all, 200,000 Otherdeeds will be made available. After the initial launch, an additional 45,000 Otherdeeds were made available, with 10,000 available to BAYC holders, 20,000 to MAYC holders, and 15,000 reserved for developers working on the Otherside project.
$1.5 million Otherdeeds land
Otherdeed #59906 recently sold for 625 ETH or ~ $1.5 million on X2Y2, and this record is more impressive when you consider that it comes less than ten days after the project’s launch. The current floor price for Otherdeeds is 3 ETH or ~ $7,200, but due to the rarity and demand for Otherdeeds, most Otherdeeds will sell for more than the floor price if they’re listed at this point.
The seller of Otherdeed #59906 bought it for 305 Apecoin or about $6,000 at the time of the purchase and sold it for the equivalent of $1.5 million a week later.
The seller of Otherdeed #59906 was “brickandmorty.eth,” while the buyer of the piece was “n0b0dy.eth,” who is an enthusiastic NFT collector.
One thing about the Otherdeed #59906 is that it is the eighth rarest Otherdeed in the entire collection according to Rarity Sniper; the NFT contains a 1 of 1 artifact, which is a mystery potion that is featured on Otherside’s trailer. Yuga Labs has partnered with gaming studios Animoca Brands and Improbable on its project, with Improbable sharing the following via a blog post. “In partnership with Improbable, the metaverse technology company, Yuga Labs aims to create a MetaRPG universe where the players own the world, where any NFT can become a playable character, and thousands of people can play together at the same time.”