LAS VEGAS / LONDON (IT BOLTWISE) – Yuga Labs, known for its Bored Ape Yacht Club NFTs, is planning a big step into the world of the Metaverse with Otherside. Despite the NFT hype waning, the company is betting on a new virtual world that is scheduled to officially launch on November 12th.
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Yuga Labs, the company behind the famous Bored Ape Yacht Club NFTs, is planning a significant foray into the world of the Metaverse with their new project Otherside. Despite the waning interest in NFTs, Yuga Labs is determined to push the envelope with an innovative virtual world. Otherside’s official launch is scheduled for November 12, after the company has already raised $450 million for development.
Otherside is described as a kind of Roblox or Fortnite, but with a strong focus on cryptocurrencies. Users can use NFTs as avatars to explore the virtual worlds created by Yuga Labs and other players. Interestingly, it is not necessary to own an NFT to participate in Otherside; a simple login via the browser is sufficient. This significantly lowers the barrier to entry and allows a wider audience to discover the possibilities of digital assets.
In addition to the central hub, the Nexus, the Otherside virtual world also offers various community-created experiences. These include games like Bathroom Blitz and Otherside Outbreak. Another feature are the so-called “bubbles”, which serve as social audio platforms. Yuga Labs sees great potential in creating a creative economy that allows developers to design their own experiences and benefit from the benefits of blockchain technology.
Although the first impressions of Otherside are not yet completely convincing, the project could become more attractive over time. The challenge is to create a vibrant and interactive environment that goes beyond mere exploration. If Yuga Labs manages to create the right incentives and get the community excited, Otherside could become a major player in the virtual world space.
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