- According to Yuga Labs, its new project, Otherside, will go live in April.
- In the tease video, Yuga Labs highlighted NFT projects like CryptoPunks, Cool Cats, and Meebits.
- Reportedly, Yuga Labs has teamed up with Animoca Brands in this project.
Yuga Labs, the creator of the non-fungible token (NFT) project Bored Ape Yacht Club (BAYC), is working on a metaverse project. The company teased about this development through a tweet on March 19, noting see you on the Otherside in April. Yuga Labs added that the project would be powered by its recently-launched native token, ApeCoin (APE).
The tweet featured a Bored Ape seated on a porch while fishing by a stretch of water. He feels a tug on his rod and hoists out a bottle labeled DRINK ME. He proceeds to drink the contents of the bottle. After this, he notices a series of events, including a volcanic eruption. Before digesting these events, a flying visitor kidnaps him.
It is at this point that the Bored Ape realizes the bottle was labeled DON’T DRINK ME, only that the DON’T part was covered by some leaves. After his abduction, the Bored Ape is transported to a different world with NFTs in the Mutant Ape Yacht Club, Cool Cats, CryptoPunks, CrypToadz, Meebits, Nouns, and World of Women projects.
The company did not offer more details about the Otherside. However, it is worth noting that Animoca Brands, the creator of The Sandbox, embraced APE for a secret project it is working on with BAYC.
While announcing this partnership, Animoca Brands shared a link to a website dubbed somethingisbrewing. The site’s landing page features a porch that features neon lights that say FOMO, BAYC, and 305.
Notably, this is the same porch that the fishing Bored Ape was seated on. From this data, experts believe that the companies might be working on an Animoca-powered 3D BAYC gaming experience.
Yuga Labs continues expansion plans
This news comes after Yuga Labs purchased the intellectual property of Meebits and CryptoPunks from Larva Labs earlier this month. The company said it sought to transfer IP, commercial, and exclusive licensing rights to individual NFT holders in both collections.
In so doing, the company said it sought to create a lively new community swarming with creators and third-party developers looking to integrate CryptoPunks and Meebits into digital and physical items worldwide.
Meanwhile, APE is changing hands at $10.40 after plunging 22.25% over the past 24 hours. This price denotes a 74.08% of its March 17 all-time high (ATH) of $39.40. According to data from CoinMarketCap, APE is the 47th-largest crypto with a market cap of $2,888,702,259.
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