After creating the most famous NFTs, it’s the turn of the metaverse! After creating one of the most profitable NFT projects, the founders of the NFT Bored Ape Yacht Club (BAYC) launched the first beta version of their startup Yuga. This startup is dedicated to the metaverse for Bored Apes. It is dedicated in particular to the creation of a gaming platform called Otherside.
The BAYC founders are facing a lot of pressure for their Otherside game
Few entertainment startups have had this level of community pressure on their first game. And even fewer have had so many people encouraging them to fail. The NFT bull run, which made the first holders of Bored Apes and the founders of the project very rich, also hit many enemies who decried NFTs as Ponzi schemes. While cryptocurrency prices have collapsed in recent months, many recent retail investors in the sector have indeed lost big.
Faced with the decline in interest in NFTs and the bear market for cryptos, the Otherside metaverse faces a major challenge
Yuga’s challenge is to maintain a community of NFT holders throughout the development of the platform Otherside. And this during what many fear will be a historic crypto winter nestled in a global recession. The startup must also take into account the persistent skepticism of players regarding NFTs … The evolution is likely to be radical for those who will go from managing NFTs sold for several thousand dollars to managing an MMO game intended for millions of users.
An expected success
The success of Otherside would mean a lot to its investors. This enthusiasm has resulted in an unprecedented valuation of $ 4 billion. A massive new metaverse project could also challenge the principles of Web3.0, at a time when the greatest powers of technology, led by Meta, promise to become monopolies of the metaverse.
On Saturday, July 16, a large private Otherside demo called “First Trip” was held, where 4,500 members of the Yuga community logged in simultaneously. The users were all dressed up as multicolored robot avatars, with only one Bored Ape in sight. A large avatar named “Curtis” guided the thousands of players through the experience. It presented the controls and gave users their first glimpse of the Otherside platform.
Otherside is intended to be a platform with an experience similar to metaverses like Roblox and Horizon Worlds meta. Otherside users will be able to create and monetize experiences in the virtual world on virtual lands that they will be able to buy and sell. The creation of more and more different metaverse attests to the enthusiasm for Web3.0. Questions about virtual property in particular are beginning to arise seriously. We will have to wait a while longer to see how the metaverse will revolutionize the Web…
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Student passionate about entrepreneurship and fascinated by the technologies behind cryptos! Yes, I am convinced that the two are intimately linked: blockchain and NFTs are revolutionizing many sectors and present unprecedented opportunities.