Go view the Oherside video for a summary of the investment idea on our YouTube channel now!
Otherside is the newest creation from Yuga Labs.
Otherside is a gamified, interoperable metaverse currently under development. The game blends mechanics from massively multiplayer online role playing games (MMORPGs) and web3-enabled virtual worlds. Think of it as a metaRPG where the players own the world, your NFTs can become playable characters, and thousands can play together in real time.
Yuga is the creator of the Bored Ape Yacht Club and ApeCoin (an ERC-20 governance and utility token on the Ethereum blockchain). In true Yuga fashion, Otherside is shrouded in mystery in speculation and generating a lot of hype of what’s to come.
55,000 Otherside Otherdeeds were minted (~$600 million sale) and 30,000 were claimed at the end of April and represent virtual lands in the game. An additional 15,000 Otherdeeds were claimed by contributors and others and another 100,000 will be rewarded to deed holders and or contributors later (likely in late summer). The game’s economy will run solely on ApeCoin and all items like resources, artifacts, Kodas, and everything other than land deeds (trade-able on OpenSea) will trade there. All this with a Yuga NFT (BAYC, MAYC, CryptoPunks, and Meebits) will get a 3D version of their NFT for the game and other NFT avatars will also be able to use their avatars in the game.
Investment thesis founded on growth and popularity of Yuga’s ecosystem and deft execution of vision for Otherside
Direct affiliation with Yuga Labs.
Tech - Built using the Improbable MSquared Engine (demo) / Unreal Engine 5 (early tech review).
Player Experience - Ambitions to create a Web3 experience as close as possible to Ready Player One with many similarities to Fortnite.
THE Metaverse - Will be the Confluence of Web3 Gaming, Music, Art, Community, Fashion, and Commerce.
Masterful story telling and community building.
Potentially more Otherdeeds airdropped in August.
Yuga has the Funding and Talent to Build - $600M raised plus 5% of the secondary sales (~$600M), which in only 3 weeks generated ~$30M.
Software Development Kit (SDK) - Will allow anyone to contribute and build and incent onboarding of other projects and creating community content.
Gen Z - Gaming is the primary way of socializing for Gen Z. They are used to playing video games and paying for in-game items (skins, currency, and levelling up fast).
Pitch Deck - Their investor deck has more info, albeit it is dated and thus will likely change.
Ultimately, Web3 is about skin in the game for investors, builders, creators, collectors, and users. So holders of Otherdeeds will benefit from the success of Otherside.
Near-term catalysts to propel bullish sentiment and drive demand and price
More information regarding gameplay, rules, and significance of resources and artifacts (speculative thread).
Launch of the tech demo this summer.
Ability to separate Kodas, artifacts, resources, from Otherdeeds and develop land.
Launch of the Otherside marketplace fuelled by ApeCoin.
Launch of 3D versions of Yuga’s avatar NFT projects.
Potential to rent your land out for other to develop and rent your avatar for others to play with.
Otherside Otherdeeds can be purchased on OpenSea.
To the moon and beyond,
Andrew
Disclaimer
The content of this letter is for informational and entertainment purposes, and should not be construed as personal investment advice.