Bored Ape‘s metaverse ‘Otherside’ opened for business 12pm ET on April 30th with Otherside’s official Discord amassing more than 76,000 members keen to sign up and buy prior to the sale.
A tweet from the Official Otherside account gave links to a “know your customer” form allowing those who complete their details to take part in the sale.
The Otherside adventure will begin on 4/30 at 12pm ET, only on https://t.co/UWRD4dOC9H. The KYC on https://t.co/mbSVzDX9tp was to participate in Saturday’s mint — only those who KYCed can participate. More details in the 🧵.
— OthersideMeta (@OthersideMeta) April 25, 2022
The official Twitter gives further instructions: “The morning of 4/30, you’ll be able to pre-approve your KYCed wallet on https://otherside.xyz. This will allow the smart contract to use your ApeCoin to mint during the auction. BAYC/MAYC holders do not need to approve their wallets to claim — only to mint during the auction.”
“You don’t have to pre-approve early — you can approve your wallet after the launch at 12pm ET, but doing it a few hours earlier will save you time and gas fees.”
Another chance to join the club
Bored Ape Yacht club is – of course – perhaps the highest profile (and most successful) NFT launch to date having recently celebrated its first birthday.
Originally creators Yuga Lab’s intended to sell Otherdeeds (deeds to land in Otherside) in a Dutch-style auction – where the price starts high then drops until all are sold – but – according to that Twitter again – “Dutch auctions are actually bullsh*t, so Otherdeeds will be sold for a flat price of 305 apecoin.” That’s $6850 at the present.
The famous Ape-based NFT artworks became briefly available for 0.08 ETH at presale for early investors in late April 2021 and since have hit an all-time high floor price of 125 ETH, representing a profit of 1562 x in value. Worth noting the price of ETH has also risen higher compared to its $2,400 price at the time. ($2,864 at the time of writing.)
Similarly ApeCoin has hit $22.46 on Binance (at the time of writing) and – as the Bored Ape metaverse will be powered by ApeCoin as its governance token – investors have speculated that it could be worth a whole lot more in the weeks to come.
Leaked slides from a BAYC metaverse presentation showed us that up to 200,000 land plots of virtual land in Otherside will be put up for sale.
Land owners who have successfully purchased portions of virtual real estate will receive additional perks as well as voting rights in the direction of the metaverse project, which in the case of Otherside, will be overseen by decentralised autonomous organisation ApeCoin DAO.
Land ahoy
The trend for virtual land sales shows no sign of abating with the Decentraland and Sandbox metaverses establishing the concept of buying virtual real estate using NFTs. Bored Ape is a little late to this party but – with a brand as big as theirs – grabbing a slice of the action – with a little help from blockchain giants Animoca Brands – was a bit of a no brainer…
Plus land buying and trading, if exclusively done in their APE digital currency, should cause high demand and hence the current circulating supply should increase in value.
Looks like despite the hijacking of their Instagram and subsequent resultant wallet thefts, the Apes should be in for for another payday.
Daniel Griffiths is a veteran journalist who has worked on some of the world's biggest entertainment, home and tech media brands. He's reviewed all the greats, interviewed countless big names, and reported on thousands of releases in the fields of video games, music, movies, tech, gadgets, home improvement, self build, interiors, garden design and more. He’s the ex-Editor of PSM3, GamesMaster, Future Music and ex-Group Editor-in-Chief of Electronic Musician, Guitarist, Guitar World, Computer Music and more. He renovates property and writes fun things for great websites.
