Bored Ape Yacht Club: New Metaverse Insights

MetaversePlanet July 19, 2022Last Updated: August 14, 2024

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As the NFT market undergoes relentless growth, Yuga Labs emerges as a prominent player making significant strides in this domain. Yuga Labs, recognized for the Bored Ape Yacht Club, a standout entity in the sector, is actively engaged in various initiatives.

In its commitment to the expanding metaverse landscape, Yuga Labs has unveiled a litepaper in collaboration with the software firm Improbable. This litepaper, named Otherside, serves as a beginner’s guide to the metaverse platform they are diligently developing.

Undoubtedly, the NFT market remains a focal point of discussions, and Yuga Labs’ endeavors contribute to its ongoing evolution. The project, bearing the same name as the litepaper—Otherside—marks a significant undertaking in the company’s portfolio.

The Otherside project is coming

Bored Ape Yacht Club: New Metaverse Insights

In a recent statement by Yuga Labs, the company highlighted the release of a comprehensive document encompassing the vision, future goals, and ethical principles guiding the Otherside project. Yuga Labs, actively sharing information on the Twitter platform, considers the publication of the litepaper as a significant milestone.

The company emphasizes its commitment to openness, transparency, and a consistent approach in its statements. This commitment, as communicated by Yuga Labs, is expected to facilitate a seamless and progressive development path for the Otherside project.

Notably, Yuga Labs had previously offered several NFTs for sale in May as part of the Otherside project, and these NFTs were swiftly sold out within hours, setting a record for the project even before its full-fledged launch.

Recent claims suggesting hidden benevolence on the part of Yuga Labs have surfaced, apart from the Otherside project. However, the company, in response to these allegations, has categorically denied them and announced the initiation of legal proceedings against those making such claims.

Looking ahead, the anticipation is high for Yuga Labs’ upcoming projects, including those associated with Cryptopunks and Meebits NFT projects, in addition to the well-established Bored Ape Yacht Club.