Yuga Labs Otherside Metaverse
The Otherside metaverse virtual land auction, which turned out to be one of the biggest NFT mints to date, was unveiled on Saturday by the developers of Bored Ape Yacht Club (BAYC), Yuga Labs. The sale of 55,000 plots of land in the Otherside metaverse generated close to $320 million.
It has now been revealed that Yuga Labs would be selling Otherside property for 305 $APE per piece. KYC-verified accounts will be able to acquire 55k land plots in this round, which are categorized as Otherdeeds. There will be no Dutch Auction in the Auction. The team presents another method of minting to fight gas warfare.
Information about the selling of Otherside property and on the mint
Otherside, Meta points out that Dutch auctions are complete BS. We couldn’t agree more, either. It’s also worth noting that the Otherside land NFTs, which are now termed Otherdeeds, will be sold for a fixed rate. For one thing, this round’s public Auction offers just 55k plots.
The leaked Yuga Labs pitch deck included a few distinct kinds of information. It was stated in the pitch deck that 100k parcels of land in Otherside were available for sale at an estimated price of 1 ETH (about $2910) in the first round. According to the most recent release, Otherdeeds would cost 2.3 times as many dollars.
However, Yuga Labs has opted out of the Dutch Auction in the sale of land on the Otherside. What is the reason behind this? In other words, the team isn’t certain that this strategy may help prevent gas battles in highly anticipated mints. As a result, the team will conduct the sale of NFTs in waves.
Waves of the NFT sale are planned
Each KYC-verified wallet may only mint up to two Otherdeed NFTs during Wave 1. Not per transaction but per wallet; please take notice. Each KYC wallet will be allowed to mint up to four NFTs in Wave 2, which will begin once the gas levels are back to normal. This continues in successive subsequent waves until all of the Otherside’s land parcels have been sold.
For Yuga Labs, it should help prevent gas battles from happening more often. There will also be a post on Otherside’s official Twitter and Discord channels tomorrow about the rise in the per-wallet limit. It’s important to keep a close watch on official updates if you’re an anon looking to acquire territory in Otherside.
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