The new Bored Ape metaverse, called Otherside, is expected to arrive in April.
The official announcement was made by Yuga Labs on Twitter.
— Yuga Labs (@yugalabs) March 19, 2022
ApeCoin in the metaverse
Yuga Labs has developed both Bored Ape Yacht Club and ApeCoin.
In fact, the company claims that the new metaverse will be “powered by ApeCoin”.
Otherside will be developed in conjunction with online gaming giant Animoca Brands, and there is speculation that it will also be a project linked to other NFT series issued directly in the metaverse.
ApeCoin (APE) has had a rather turbulent debut on the crypto markets.
It only entered the market on 17 March, less than a week ago, at a price of $7.4.
The next day it peaked at over $17, a staggering +130% in one day.
However, after reaching that peak, the price immediately started to fall, returning to $9.6 three days later.
It is now worth 74% more than its initial price, but 29% less than its peak.
It is therefore a very volatile token at the moment.
The curious thing is that after the announcement of the Otherside metaverse the price of APE continued to fall, and only started to rise again two days later. This means that other dynamics are dominant at the moment, and that future developments are having a secondary impact on the price.
Otherside, the Bored Ape metaverse
At this point in time, little is known about what Yuga Labs’ new metaverse project should look like, and what it might do. The only thing that seems certain is that it has something to do with NFTs, given that the presentation video for Otherside features a Bored Ape.
What is possible to imagine is that the new metaverse could add a new use case to the APE token, currently used almost exclusively as a governance token for the DAO of the same name.
The fact that Animoca Brands has also been involved suggests quite explicitly that it will be a project linked to the world of online gaming, something that can easily be linked to the use of NFTs.
Moreover, the planned launch in April suggests that development is already well advanced, and has probably been underway for some time, even before APE was launched on the market.