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Yuga Labs has been working hard towards the development of the Otherside metaverse since the announcement. Recently they released a demo version for the users. The organization wants to build a Bored Ape Yacht Club (BAYC) marketplace for their virtual worlds. Recently, proposals to get approval for the development were presented by Solana, Snag Solutions and Yuga Labs themselves.
It appears like the ApeDAO community is really fascinated by Snag Solution as over 99% members voted in favor of the firm. On the other hand, a proposal by the Solana marketplace Magic Eden was a big no no for the community as over 85% members showed a thumbs down to the organization. Proposal by Yuga Labs seems a bit balanced as 43.34% members gave a nod to their proposal, while 56.66% stood against it.
Yuga Labs are seeking a top entity to build the platform offering best in-class user experience. Solana is a blockchain designed for scalable and decentralized apps, higher transaction per second, and lower transaction fees, meanwhile, Snag Solutions is a whitelabel NFT marketplace providing similar solutions for the projects.
Otherside metaverse got its official trailer during March 2022, the same month Yuga Labs raised $450 Million for metaverse development at a $4 Billion valuation. Shortly after that, Otherdeeds (virtual land parcels on Otherside) went live for sale which gained a lot of attraction from the investors instantly.
According to DappRadar, BAYC has an all time sales volume of $2.17 Billion with floor value going to $105.82K. Bored Apes witnessed their highest trading volume for 2022 during March 22, 2022, marking $10.19 Million on the day. Highest NFT sales for the digital collectible remains BAYC #8817 NFT($3.4 Million) which was sold during Sotheby’s metaverse auction.
According to Nicole Muniz,Yuga Labs CEO, the organization wants to develop a “walled garden” with gates open to everyone. They are working their fingers to the bone to make the virtual world accessible to a vast variety of users and not just limited to the BAYC or Otherdeed owners. The trailer showed a glimpse of the NFT collections coming together in the Otherside metaverse including Meebits, CryptoPunks, World of Women and more.
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