The much-awaited Bored Ape Yacht Club (BAYC) Metaverse, the “Otherside,” is dropping on April 30 at 9 PM EST. The official Twitter handle announced the launch date of the metaverse.
Yuga Labs have been dropping gems one by one, and its Discord server is holding over 145,261 members now. ApeCoin will be the only payment method used for all minting and sale activities. BAYC recently witnessed its social media getting hacked and NFTs of its users getting stolen.
Despite all the bumps, its much-awaited drop is nearing. Let us take a look at Otherside and how you can be a part of it.
All that we know about BAYC’s Otherside
Around mid-March, a video was dropped by Yuga Labs on their official Twitter page. A neatly curated video trailer featuring some of the Apes was quite fun to watch. The video was a tease about the mysterious Otherside metaverse.
Ever since the video dropped, the entire Twitter crypto community has been relentless with chit chats about the Otherside and what it might bring to the table.
The teaser that dropped visualized an Ape drinking a potion that he got out of fishing, and he will be immediately transported to the Otherside. He reaches a dark place filled with lava and submarines where he will be joined by a CryptoPunk, a World of Women avatar, a Mutant Ape, and a Cool Cat in the submarine.
In partnership with Animoca brands
BAYC’s metaverse is built with the help and collaboration of Animoca brands. Animoca Brands is a game software company and venture capital company based in Hong Kong.
The company announced that to participate in the first phase of the project; users need to get KYC verification done from the announcement website. This was not welcomed with open hands as the announcement received quite some backlashes. But the existing BAYC and MAYC holders will be able to claim the NFT for up to 21 days after the auction without KYC.
Kodas who?
Speculators have been keen ever since the teaser dropped and were trying to look out for potential leaks and hints about the drop.
Kodas, a small alien-type avatar that resembles the logo of Otherside, had made an appearance in the teaser. Some of the BAYC holders believe that the mint might be for the “Kodas.”
Kodas, who carried the Ape to the Otherside, seem pretty unfamiliar with the BAYC team. Let us look at how true that is when the mint goes live.
Gear up before the mint
So the mint will go live on April 30, at 9 PM EST. There are certain things to keep in mind. KYC is a necessity except for the BAYC holders. One other aspect is that the entire sale will be an ApeCoin exclusive.
You will need some additional ETH to cover the gas. In addition, for a year, Otherside will retain any ApeCoin acquired from the auction. To put it another way, the coins will not be utilized to vote in the ApeCoin DAO.
From Saturday morning, you can pre-approve your KYC verified wallet on the Otherside website. The smart contract will then mint ApeCoins using your ApeCoins during the auction.
The company has left out many warnings to the community as the scammers are trying to cash in every opportunity. The team announced that their wont be any giveaways or pre-sales. So don’t go out there and click on unwanted links.
Amidst all this, ApeCoin has skyrocketed, with over a 90% price hike in a week. The coin is trading at $21.66, with over a 4% drop in the last 24 hours. Let’s wait to see whether the Ape can reach the top of the tree.
Key updates to note before the mint goes live
The metaverse land available for sale is called the Otherdeeds. For 305 APE per plot, each piece of land will be available to purchase. For customers who have completed KYC, a total of 55k land plots will be available for purchase.
Instead of going forward with the Dutch auction, the team chose to sell Otherdeeds plots for 305 ApeCoin per plot. The researchers predicted that the Dutch auctions would fail to stop the gas wars in these highly anticipated mints.
So instead of Dutch auctions, the sales will be conducted in waves. So for each wave, one KYC’d wallet can only mint up to 2 Otherdeeds. Once the gas price settles down, the team will start wave two.
Only pre-approved wallets that completed KYC can spend their ApeCoin at the Otherside. Pre-approval will be closed by 9 pm ET when the minting doors will be open.
To reduce the gas fees, the team recommends pre-approving the wallet before minting. BAYC and MAYC holders need not pre-approve to claim, but to mint additional Otherdeeds, they need to.
The entire mint will be on ApeCoin, and a partial amount of ETH is mandatory to cover the gas fees. The much-awaited Otherside launch will ramp up the BAYC game and potentially increase the floor price of the Apes. The increased ApeCin utility on the platform will likely pump the price of the coin.
