The Creators of BAYC Promised to Launch The Otherside Metaverse Soon

There has been an unabated influx of metaverse announcements, and this time it’s the turn of Yuga Labs, which intends to supply the 200,000-square-foot plot of land titled MetaRPG as part of a metaverse development project.

The Otherside Metaverse

Yuga Labs is also in charge of the upkeep of the metaverse, which is another obligation of the organization.

When it comes to people who are familiar with the non-playable token (NFT) ecosystem, Yuga Labs is well-known for being the startup that launched the Bored Ape Yacht Club (BAYC) collection of non-playable tokens, which has since expanded to include a bunch of other collections.

Following their recent announcement of the acquisition of CryptoPunks and Meebits’ intellectual property, they have already made her presence known in the cryptocurrency world, and they intend to keep doing so in the future. Our readers may have heard earlier this week that the company intends to sell virtual land in the new metaverse virtual environment, which will be available for purchase in the near future.

At this point, there isn’t much more to say about the APECoin token project than the fact that it was introduced last year and is planned to see the light of day around the same time. Make sure to keep an eye out for the eponymous token, as its value has increased dramatically in recent days, jumping from 2 cents to 17 cents in only a few short days.

There is no mistaking the fact that the token in issue has nothing to do with the project and provides no liquidity; in fact, at the time of writing this essay, the real token in question was not yet listed on any markets.

In order to gather funding for the development of the metaversive game produced by Yuga Labs, sources claim that the metaversive game has already been made available to investors for consideration.

It would have been more accurate to call it a MetaRPG instead, because what we know about its content is confined to the use of NFTs to construct and equip characters, which is about all we know about it at this time.

APCoin, a cryptocurrency, is expected to be used as the foundation for an alternate financial system in the universe, according to the theory.

Every New Business Enterprise Faces a Critical Year in Its Development

A total of 200,000 land plots will be sold by Yuga Labs in order to officially open its virtual world, which will take place in the not-too-distant future. There will be a total payment of US$178 million for each lot, which will be divided across two sales sessions that will take place back to back.

In the preceding fiscal year, the corporation made revenue of $127 million dollars. As a result of the revised forecast, the company now expects to earn $455 million this year, an increase over the earlier forecast of $445 million.

Yuga Labs, the business behind the Bored Ape Yacht Club (BAYC) NFT collection, is aiming to create $455 million in revenue by 2022, mostly through the selling of virtual land in the future metaverse, according to the firm’s website.

The project is expected to generate $127 million in net revenue by the year 2021. Included in this figure is the sale of the project’s collection tokens on the secondary market, which generated over $1 billion in revenue.

Yuga Labs NFT Collection

Recent announcements by the Bored Ape, the gaming studio of NFTs, and other companies are important because they represent a significant development in the yachting industry.

On the other side, BAYC asserts that this project has been in the works for seven months and will, unfortunately, involve a Know Your Customer (KYC) verification process; however, it is expected that the community would support this endeavor. Without more detailed information, we won’t be able to discern whether this is news about the well-known metaverse project produced by parent company Yuga Labs, or whether it is news about something else different.

The fact that while some NFT efforts fail to generate anything once they are released, this is not the case in the majority of cases, and that certain collections are making an effort to stimulate actual interaction with their works, can be seen in this example.

When working with a project as large as BAYC, which is well-known for breaking its own records on a regular basis, achieving success is even more straightforward.