Latest Otherdeed for Otherside News

Yuga Labs provided a long-awaited update on its Otherside Metaverse on Wednesday. 

The Deets

• Foundation Building: Focus on setting up Otherside accounts, optimizing environments, and enhancing avatars for better interaction.
• Rapid Release & Iteration: Quick feature releases to gather user feedback and refine the platform.
• Upcoming Events: Introduction of Apes Come Home experience and work on Meebits 1.3 for Spring.
• Kodas and Community: Development of the unique Koda collection and plans for engaging other collections in Otherside.

The Bulk

Otherside, the metaverse initiative led by Eric Reid, has made significant strides in its development over the past six months, focusing on foundational work and preparing for rapid iteration and release of new features. The platform aims to provide a unified account and identity for users, facilitating access to NFTs, wallets, and a range of interactive experiences. With an emphasis on quality and scalability, Otherside is optimizing its virtual environments and avatars to meet AAA game standards, setting a new benchmark for metaverse experiences.

Soon it will host its Apes Come Home experience marking a milestone in the Otherside's journey, allowing 10,000 Ape holders to engage with their NFTs in a dynamic, shared space for the first time. This event, alongside the anticipation for Meebits 1.3, will be the first showcases of Otherside's efforts to serve as a platform for content creators, communities, and brands to come together and share their creativity.

📊 By the Numbers

The Otherdeed floor price is up 6% in the last 24 hours to 0.39 ETH. 

🎤 Founder Feedback

🔜 What's Next?

Apes Come Home will launch next Thursday, Feb. 29. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Greg Solano, also known as CryptoGarga, is stepping back in as CEO of Yuga Labs with a promise of a cryptonative future and immediate action across its ecosystem.

The Deets

• Garga "reinvigorated" to regain CEO role. 
• BAYC LLC Formation: A new subsidiary to empower the Bored Ape Yacht Club with more autonomy.
• Otherside Vision: Aiming to become web3's living room, with a commitment to enhanced community engagement.
• Gaming Strategy: A dual approach focusing on fun and cryptonative mechanics for broader ecosystem growth.
• Community Engagement: Plans to increase interaction and communication with the community.

The Bulk

CryptoGarga, co-founder of Yuga Labs, announced his return as CEO in a move that signals a strategic pivot towards a more cryptonative focus for the company.

Garga provided immediate next steps and action items for all of the major Yuga Labse ecosystem items, starting with its flagship, Bored Ape Yacht Club.

First and foremost, he announced the establishment of the BAYC LLC as a subsidiary to Yuga Labs. The LLC aims to grant the BAYC team the autonomy needed to foster creativity and rapid execution of its vision. This structural change is designed to leverage the BAYC's community-driven success to new heights.

In parallel, the Otherside project is depicted as the future "living room of web3," a space for community gathering and engagement across various web3 ecosystems. Solano's vision for Otherside involves a deeply interactive development process, with increased communication and community input at its core.

The gaming strategy outlined by Solano emphasizes a "barbell approach," balancing mass-market appeal with cryptonative mechanics. Initiatives like Dookey Dash are highlighted as examples of engaging gameplay that can attract a wide audience, while undisclosed projects promise to deepen the cryptonative aspect of Yuga's gaming ventures.

🎤 Founder Feedback

❗Why It Matters

After lots of negative sentiment following the PROOF acquisition last week, Yuga Labs regains good community favor pushing back to its roots and shedding a bit of the "corporate" cloud that has shrouded the company in the last few years.

🔜 What's Next?

With increased communication and a clear action plan, the future under CryptoGarga's leadership promises much more from Yuga Labs' portfolio. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Legends of the Mara introduced Kodamara Fusion, a new feature allowing players to evolve their Mara using unique Creation Season Catalysts.

The Deets

• Fusion Process: Evolve Maras by consuming Catalysts, altering both appearance and abilities.
• Creation Season Catalysts: Six types to be introduced as rewards in Season 2.
• Trait Variability: Catalysts influence Kodamara’s appearance, with random unique combinations.
• Stat and Skill Impact: Mara’s tier and role affect the in-game attributes of the evolved Kodamara.

The Bulk

In the immersive world of Legends of the Mara, a new feature is set to debut: Kodamara Fusion. This process allows players, referred to as Voyagers, to evolve their Mara creatures using a variety of Catalysts introduced in the game's second season.

These Catalysts, known as Creation Season Catalysts, come in six distinct types. Each type not only imparts unique visual traits to the Kodamara but also contributes to a random and unique combination of these traits, making every evolved Mara distinct. The process of Fusion is irreversible, adding a layer of strategy and consideration to each player's decision.

Furthermore, a Mara’s tier and role significantly influence the in-game stats and skills of the evolved Kodamara. This ties in with the game's strategic elements, where choosing the right Mara to evolve can have a profound impact on gameplay. Additionally, players can look forward to using Sediment Fragments, a future feature, to further enhance their Kodamaras.

🎤 Community Quotes

🔜 What's Next?

With the promise of Sediment Fragments on the horizon, players can anticipate even more depth and customization in their Legends of the Mara experience.

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Arbitrum, in partnership with Horizen Labs and Offchain Labs, unveiled an ApeCoin DAO idea for ApeChain, a dedicated blockchain using $APE as the native gas token, aiming to revolutionize onchain gaming.

The Deets

• New Collaboration: Arbitrum, Horizen Labs, Offchain Labs team up for ApeChain
• Native Token: $APE to serve as ApeChain's gas token
• Gaming Focus: ApeChain to be a nexus for onchain gaming, led by Horizen Labs
• Technical Edge: Utilizing Arbitrum’s AnyTrust technology for efficiency and affordability
• Overall Cost: No upfront compensation requested by potential partners

The Bulk

Arbitrum, known for leading the Ethereum scaling solution space, is collaborating with Horizen Labs and Offchain Labs to propose ApeChain be cemented on Arbitrum. Given Yuga Labs' focus on the gaming sector, Arbitrum noted that its vision of ApeChain intends to use $APE as its native gas token, levergaing Arbitrum's technical attributes and market share to create a robust gaming-centric blockchain ecosystem.

The initiative has garnered support from various partners including Magic Eden, Darewise, LayerZero Labs, and more, as outlined in the full proposal. 

Horizen Labs, serving as the growth lead, would focus on business development and onboarding for ApeChain, aligning with Yuga Labs' gaming strategy. Offchain Labs would contribute technical expertise, enhancing ApeChain's features, including potential implementations like hardcoded creator royalty enforcement.

None of the partners are seeking upfront compensation for the work, and its implementation would be funded by Arbitrum's Grant Program, if the idea moved forward as is. Instead, the group would receive some form of compensation from the revenue generated from ApeChain's data availability committee. 

❗️Why It Matters

ApeChain seems like all but an inevitablity at this point, and now multiple heavy hitters, including Optimism, Polygon, and Arbitrum are vying to be its home. If Yuga Labs wishes to cement itself as a major web3 gaming player, it will need a place for its ecosystem token and high-speed, cost-effective transactions. Will that be with Arbitrum's help?  

📊 By the Numbers

$APE has lagged relative to its web3 gaming token counterparts. The Yuga Labs' ecosystem token is up 4.4% in the last 24 hours to $1.68 and is ranked No. 101 in CoinGecko's marketcap rankings. 

🎤 Founder Feedback

🎬 Take Action

Learn more about the idea and provide your feedback via the ApeCoin DAO forum. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Legends of the Mara Season 2 launched with new Leaderboard system and refreshed Shattered Loot.

The Deets

• Season 2 began yesterday, bringing significant updates and improvements.
• The revamped Leaderboard focuses on cumulative Shattered damage per Environment Tier.
• Shattered Loot has been refreshed, offering better rewards in chests.
• New Chest Timers and Sediment Fragment replenishments enhance gameplay experience.

The Bulk

Season 2 of Legends of the Mara (LoTM) introduces changes, enhancing the gaming experience for Voyagers. A major overhaul of the Leaderboard system now focuses on the total Shattered damage in each Environment Tier. Players' positions on the Leaderboard will be determined by their cumulative damage, creating a more competitive environment.

The Shattered Loot, a key component of LoTM, has been updated. Players now have a higher chance of receiving better loot in chests. Furthermore, Season 2 introduces different Chest Timers across Environment Tiers, allowing players to earn Master and Intermediate chests more effectively.

In addition to these changes, there's a global replenishment of Sediment Fragments. 

📊 By the Numbers

Legends of the Mara has seen a consistent increase in player engagement, with the previous season recording more than 100,000 active players. 

🔜 What's Next?

Looking ahead, Season 2 promises further developments, including the introduction of The Friends to assist Oda in the Hunt. 

🎬 Take Action 

Participants now need to re-assign all Oda to farm Otherdeeds as part of the Season 2 launch.

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Yuga Labs CEO, Daniel Alegre, spoke candidly about his experience and the future of Yuga Labs ecosystem components, hinting at big changes and new initiatives while admitting flaws. 

The Deets

• Bored Apes: Major club with global presence emphasized with events like ApeFest in Hong Kong and list of partners. 
• CryptoPunks: Yuga's intensified efforts in elevating the stature and art collector appeal of CryptoPunks.
• Meebits: Transition to Otherside for a dynamic ownership experience.
• Otherside: Rapidly expanding development with help of partners. 

The Bulk

Yuga Labs CEO, Daniel Alegre, provided a detailed overview of his time at Yuga Labs and shared a snapshot of before and after for some of the biggest components of the Yuga Labs ecosystem.

For the Bored Ape Yacht Club, Yuga is still going global. A highlight of this strategy is the upcoming ApeFest which will be held in HongKong. This event is a testament to Yuga's commitment to its global community, ensuring they're part of something epic.When it comes to Made By Apes, Alegre mentioned that a handful of key businesses would be showcased during ApeFest, hinting at potential collaborations or features that the community should anticipate.

The CryptoPunks relationship with Yuga Labs has seen its challenges. However, Alegre detailed how Yuga has been working diligently to enhance the brand's recognition and stature. This includes collaborations with top-tier museums and strong community support measures.

Meebits has faced hurdles from a business standpoint, but Yuga Labs is innovating solutions. By integrating Meebits into Otherside and evolving them into a more interactive experience, Yuga aims to rejuvenate the brand and bolster its community engagement.

Otherside, Yuga Labs metaverse, will see rapid changes. With partnerships and acquisitions like Hadean, Big Rhino, and Roar Studios, Yuga Labs is determined to accelerate Otherside's evolution, aiming to meet the high expectations set by the community.

Lastly, on the gaming front, Yuga Labs acknowledges past shortcomings and is eager to learn and innovate further in this space. Specifically Alegre called out the fun and excitement of Dookey Dash, but acknowledged expectations have not been met for HV-MTL. 

🎤Founder Feedback

🔜 What's Next?

With the extensive plans for each component of the Yuga ecosystem, the community should brace for a flurry of announcements, collaborations, and innovative experiences in the coming months.

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Polygon Labs co-founder Sandeep Nailwal proposed the implementation of a dedicated zk-L2 "ApeChain" to be built in conjunction with Polygon Labs in a formal AIP via the ApeCoin DAO forum.

The Deets

• New Chain, ApeChain: Developed using Polygon CDK, focusing on ease and modularity.
• Collaboration: Involves ecosystem collaboration with Polygon Labs.
• Development Fund: A separate fund from ApeCoin DAO's treasury to fuel the growth of ApeCoin-related projects and ApeChain-associated public services.
• Migration Need: ApeCoin migration to its own chain was anticipated 18 months earlier by Yuga Labs.

The Bulk

Polygon Labs is hoping to create a unique dedicated zk-L2 in collaboration with ApeCoin DAO. 

By having its very own chain, ApeCoin DAO aims to address scaling issues, ensuring that all affiliated projects and experiences have a dedicated and efficient space to operate. This could, in turn, attract more users and facilitate a wide range of value generation, including assets, content, and data.

In fact, Yuga Labs itself called for the potential of its own chain shortly after the expensive Otherside mint. 

The value propositions being put forward by this collaboration are promising: heightened security, reduced fees, high customizability, instant withdrawals, and shared liquidity, to name a few. 

🎤 Founder Feedback

📊 By the Numbers

Polygon is seeking $200,000 annually to help with implementation and future growth. 

🔜 What's Next?

The proposal is just entering the formal AIP process. Assuming it is approved through the beginning stages, it will be assigned an official AIP and moved to a DAO vote. 

🎬 Take Action

You can dive deeper into the proposal here. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.

In its latest play test, Yuga Labs invited Meebits holders to use their Meebit avatars in the Otherside for the first time. 

The Deets

• Concept Art Peek: Play-testers in Berlin experienced new concept art from the Otherside team.
• Meebit Avatars: Completely rebuilt and optimized avatars specially crafted for Otherside.
• Meetropolis Introduction: A novel island in Otherside where nature combines with voxel elements.
• Community Involvement: Participants provided crucial feedback and celebrated with Meebits-themed refreshments.

The Bulk

During a special play-test event in Berlin, a select group comprising 40 Meebits and Voyagers were introduced to several groundbreaking concepts being developed by the Otherside team. The group was treated to exclusive glimpses of the latest concept art which provided insights into the visual direction Otherside is pursuing.

Among the unveilings was Meetropolis, a newly crafted island located within Otherside with inspiration from Meebits. 

📊 By the Numbers

The Meebits floor price is up 9% in the last week to 0.98 ETH. 

🔜 What's Next

A full play test trailer is expected to better showcase the Meebits Otherside adventure. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Yuga Labs announced an investment in spatial computing firm Hadean to enhance 3D experiences on a global scale.

The Deets

• Partnership Strengthened: Building on recent technical and commercial agreements, Yuga Labs deepens ties with Hadean.
• Mass Concurrency: Hadean will aid Yuga Labs in achieving high-scale 3D experiences by addressing concurrency challenges.
• Investment for Otherside: Yuga's investment is focused on the evolution of Otherside.
• A Shared Vision: Both companies emphasize their commitment to enhancing interactive and immersive experiences in the digital world.

The Bulk

Yuga Labs announced a strategic investment in Hadean, a company specialized in spatial computing. The move comes after the pair announced a strategic partnership in Sept. to push the Otherside forward. 

Yuga Labs CEO, Daniel Alegre, emphasized the capabilities of Hadean, stating its technology and know-how in creating immersive cross-industry experiences is unmatched. He believes in a shared vision to harness the interactive capabilities of Otherside.

🎤Founder Feedback

🔜What's Next?

With strengthened ties between Yuga Labs and Hadean, the web3 may be able to expect immersive virtual experiences coming to the Otherside metaverse. 

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Metaverse startup, Improbable, reported an 85% reduction in losses, crediting its intensified focus on creating metaverse experiences, according to a report from CNBC. 

The Deets

• Improbable's revenue improved to $95 million. 
• The company cut its fiscal losses by 85%. 
• CEO Herman Narula told CNBC it was Improbable's "best financial year" yet. 
• Advancements in AI enabled the firm to produce more with smaller team. 

The Bulk 

Improbable made significant strides in 2022 by shifting its attention towards the metaverse, most notably in collaboration with Yuga Labs and the development of the Otherside Metaverse.

In line with its metaverse vision, Improbable introduced MSquared - designed to be a collection of interoperable web3 metaverses. Thanks to a separate funding round, MSquared raised $150 million. Unlike traditional platforms, MSquared offers cloud streaming accessibility, eliminating the need for software downloads. This innovative approach has garnered attention from significant names, like Major League Baseball (MLB), resulting in partnerships for unique virtual experiences.

🎤 Founder Feedback

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