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What Is Otherside: Everything To Know About the Bored Ape Metaverse

Published

10 months ago

October 26, 2022

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“See you on the otherside in April,” Yuga Labs tweeted on March 18, 2022. This caused a fire storm of activity by more than 1.8 million enthusiastic gamers watching the attached teaser trailer indicating that Bored Ape’s Metaverse debuted. But what exactly is Otherside? This is discussed in more detail below, along with the many ways Yuga Labs decided to take advantage of NFTs. Buckle Up-It’s going to be a wild ride!

What is the otherside? The other side is the 3D Metaverse, which seems to provide a game format for boring Ape NFT holders. Otherside was developed in collaboration with Animoca Brands and uses ApeCoin. 4,444 members of the boring Ape Yacht Club (BAYC) were invited to hang out on the other side at launch in April. This has been of great interest, especially since it was announced the day after Yuga Labs debuted ApeCoin (symbol: APE). ApeCoin is available in all major crypto exchanges and is reported to play a major role in the Bored Ape Metaverse.
Clear the Stage was a teaser trailer that showed the boring monkey fishing protagonist to the Doors’ “Break On Through” song. He initially catches a bottle labeled “Drink Me”. But when he does, the full text of the bottle becomes apparent as “Don’t drink me.”

This reference to Lewis Carroll’s Alice in Wonderland provides some information about what to expect from the boring monkey Metaverse. The ones that are up should be down and the ones that are big should be small. And all players need to be able to use these things to create the land they really want. If this sounds exciting to you, you are not alone. Go back to the
video and watch the boring monkey ecosystem warp and move to the other side for the next minute. The NFT hero smoking a cigar is then literally shaken off in a wild flight across the BAYC Metaverse. The trailer features a number of NFT characters such as Bored Ape, CryptoPunks, Mutant Apes, The Meebits, Cool Cats, CrypToadz, World of Women, and Nouns.

So, what`s the purpose of all of this? Yuga Labs intends their Bored Ape metaverse to be an MMORPG that will connect the broader NFT universe. In other words, this seems to be a huge hint from Yuga Labs that now might be the time to get into NFTs if you haven’t done so yet.
What Do We Know About Otherside? There isn’t much that is officially known about Otherside. Fortunately, a recent pitch deck leak has filled in many missing details. It’s possible that some of what follows won’t end up in the BAYC metaverse, but the odds are high that the majority of it is correct.

One of the defining parts of Otherside is how Bored Ape plans to monetize it. Not only will ApeCoin be the ingame currency but they’re also planning the sale of land tokens. The good news is that land and customizable NFT avatars can be purchased with ApeCoin. So, if you’ve already invested in ApeCoin, you’re good to go! If not, now may be the time to invest.
According to the pitch deck, Bored Ape indicates that “We want to build something that expands the universe of the BAYC, but also invites the larger NFT community (and those priced out of BAYC membership) to join.” This has understandably made fans of NFTs pretty excited, especially when you consider that the ground floor price to join the BAYC is currently around $300,000.

Partnerships and Memberships

The partnership between Bored Ape and Animoca Brands will possibly provide integration with The Sandbox. For those who don’t know, The Sandbox is a mobile game that was initially released on May 15, 2012, by the mobile games studio Pixowl. When Pixowl was acquired by Animoca Brands in 2018, they used The Sandbox’s name to launch a blockchainbased 3D open world game.

Since then, sandboxes have made a name for themselves by selling virtual lots to players. They also got celebrities to promote the game by giving virtual lands to Snoop Dogg and Ritchie Hortin. All of this led to the creation of the Sandbox Metaverse, which is now the alpha version. One player paid an estimated $ 449,766 to become a virtual neighbor of Snoop Dogg.
Does the boring monkey ecosystem do the same? It seems likely. After all, Justin Bieber has a crying monkey NFT that cost him $ 1.3 million. Other prominent fans of Bored Ape NFT include Jimmy Fallon, Paris Hilton, Eminem, Mark Cuban and Shaquille O’Neal. There are rumors that Elon Musk recently bought a Bored Ape NFT, even though he was openly ridiculing the NFT.

Increased interest and rising prices

How much do people are willing to pay to become a virtual neighbor of Justin Bieber and others? Only time is known, but it’s certainly part of the $ 356 million Yuga Labs that wants to raise between two separate land sales in 2022. The Bored Ape ecosystem seems ready to welcome a large number of people. And you can be assured that celebrities are playing their part. Even before the BAYC Metaverse was announced, the Bored Ape NFT collection had sold over $ 1 billion. As the Bored Ape Metaverse is about to be released, these irreplaceable tokens are ready to be redeemed for a much higher amount.

The main goal of the Bored Ape metaverse is to build an overarching platform where ingame skins and minigames can be developed. This could provide a lot of value to Bored Ape NFT holders, who will soon be able to explore everything the BAYC metaverse has to offer. If the Bored Ape ecosystem becomes a proven commodity, it has the potential to become a much bigger environment than other similar virtual spaces.
For instance, one existing metaverse, Decentraland, has had many growing pains. As of 2021, there were only around 1,600 users, and many of these may no longer be active. Despite Decentraland raising $ 26 million in its first coin offering in 2017, the 3D Metaverse has been widely criticized for its long load times and poor moderation. If the Bored Ape Metaverse turned its attention to the blunder of Decentraland’s 3D release, they may have taken steps to make the product better accepted. It is now well known that properties cannot be simply placed in virtual space to achieve them. This means that the BAYC Metaverse needs to provide something of true value in order to keep users logged in.

What to expect

I don’t know exactly what it’s worth, but the teaser trailer alone has hope. The Bored Ape ecosystem seems to offer players a wide range of customizable virtual land options as long as they are willing to shell out ApeCoin. If you’re hesitant to buy a NFT, Bored Ape’s Metaverse may be just right. It’s okay to buy ApeCoin, which has been doing great things lately. This shows consumer confidence in the adoption of the BAYC Metaverse. There is also news that
Yuga Labs has mediated a large deal with Larva Labs. As we now know, this will give the BAYC metaverse access to The Meebits and CryptoPunks NFTs, which used to be owned by Larva Labs. When the deal was announced, a new valuation of Bored Ape came out that placed them at a whopping $5 billion.

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What is Baby AGI: A Comprehensive Guide For Beginners

Published

12 hours ago

August 15, 2023

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Artificial Intelligence (AI), an omnipresent force subtly weaving through the fabric of modern life, has ushered in a new era of innovation and automation. From virtual assistants like Siri and Alexa to the sophisticated recommendation engines driving platforms like Netflix and Amazon, AI’s impact is unmistakable. A groundbreaking stride in AI’s evolution is the emergence of Baby Artificial General Intelligence (AGI), an advancement poised to reshape our existence by automating a diverse spectrum of tasks. This article delves into the essence of Baby AGI, its mechanics, and the boundless vistas it opens for application.

Introducing Baby AGI: Pioneering Autonomy and Efficiency

Laying the foundation for an era of self-sustaining AI, Baby AGI is a groundbreaking autonomous agent meticulously crafted using the Python programming language in tandem with the OpenAI and Pinecone APIs. This innovative entity possesses the prowess to independently initiate and execute tasks, effectively revolutionizing workflow dynamics. Much akin to its human counterparts, Baby AGI demonstrates the capacity to learn, comprehend, and execute tasks spanning a myriad of domains, distinguishing itself from the narrower confines of specialized AI.

Exploring Baby AGI’s Boundless Potential

While the infancy of Baby AGI’s journey is undeniable, the scope of its applications is nothing short of prodigious. From crafting literary marvels to orchestrating intricate travel plans, Baby AGI promises the ability to undertake tasks demanding a human-like grasp of context and nuance. Crucially, it is imperative to grasp that Baby AGI doesn’t supersede human intellect; rather, it serves as an invaluable tool for task automation, driving productivity gains across domains.

Embarking on the Journey: Navigating the Prerequisites

Utilizing Baby AGI mandates a trifecta of essentials:

Adequate Hardware: While specific hardware prerequisites remain nebulous, a computer boasting a minimum of 4GB RAM is advised to ensure seamless operations. Optimal hardware guarantees expedient task execution.
API Key Activation: Empowering Baby AGI necessitates procuring API keys from OpenAI and Pinecone. This entails simple steps for key generation.
- OpenAI API Key Generation:
  - Access platform.openai.com, then log in or establish an account.
  - Click the profile icon, selecting “View API Keys.”
  - Create a new secret key with a designated name.
- Pinecone API Key Generation:
  - Visit pinecone.io and access your account or create a new one.
  - Navigate to “API Keys” on the left-hand side, then proceed to generate a new API key.
Stable Connectivity: Unlike offline AI tools, Baby AGI thrives on an unwavering internet connection, underscoring the need for dependable connectivity.

A Comprehensive Guide to Harnessing Baby AGI’s Potential

The journey commences by embracing the steps outlined below:

Step 1: Python Installation

Begin by installing Python, an essential programming language requisite for executing Baby AGI. Visit python.org, acquire the latest version of Python, and follow platform-specific installation guidelines.

Step 2: Acquiring Baby AGI Files

Through your terminal (Mac/Linux) or Command Prompt (Windows), input “git clone https://github.com/yoheinakajima/babyagi.git” and press Enter. This directive triggers the download of imperative Baby AGI components from the designated GitHub repository.

Step 3: Package Installation

Within the downloaded directory, execute “pip install -r requirements.txt” in the terminal or Command Prompt. This single command orchestrates the installation of essential packages, forming the bedrock of Baby AGI’s operational architecture.

Step 4: Configuration Precision

Upon successful package installation, locate and rename the “.env.example” file to “.env”. This configuration file is instrumental in establishing the operational context for Baby AGI.

Step 5: Enabling API Integration

Edit the renamed “.env” file using a text editor to input your OpenAI and Pinecone API keys. These keys imbue Baby AGI with the prowess to interact with external services, accentuating its capabilities.

Step 6: Igniting Baby AGI

Within your terminal or Command Prompt, input “python babyagi.py” and hit Enter. This catalyst sets Baby AGI in motion, ushering in its active presence and potential for interaction.

Step 7: Catalyzing Interaction

Elevate Baby AGI’s prowess by offering input that encapsulates your AI agent’s designation, the focal domain, and the inaugural task you seek to delegate. This framework defines its mission, enabling adept execution guided by your specifications.

A Glimpse of Baby AGI in Action

Illustrating Baby AGI’s potential, envision a scenario where it functions as a cyber insurance underwriter, identifying vulnerabilities primed for cyber insurance claims. Tasked with grasping cyber insurance nuances and dissecting potential linked.com issues, Baby AGI exemplifies task automation at its zenith.

Navigating Current Usage and Future Trajectories

Though yet to infiltrate commercial applications, Baby AGI captivates researchers and pioneers. Yohei Nakajima’s Baby AGI project harnesses machine learning and reinforcement learning, mirroring human growth patterns. Foreseeing the dawn of advanced educational tools and more sophisticated chatbots, the path forward entails overcoming challenges of safety and ethics.

Concluding Remark

Baby AGI crystallizes the zenith of AI evolution, steering us towards the realization of AI agents mirroring human cognition. Pioneering the realm of task automation, this nascent marvel harbors potent potential. Though in its infancy, Baby AGI pledges to empower and reshape the landscape of productivity.

(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of Forbes.)

Guides

What is Wrapped?

Published

5 months ago

March 28, 2023

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Wrapped is a term used in the cryptocurrency industry to refer to a digital asset that represents another asset or currency on a different blockchain. This allows users to trade or use assets on one blockchain, while still retaining the value of the asset on its original blockchain.

For example, the Wrapped Bitcoin (WBTC) is an ERC-20 token that represents Bitcoin (BTC) on the Ethereum blockchain. When a user wraps their BTC into WBTC, they receive an equivalent amount of WBTC on the Ethereum blockchain. This allows them to use BTC in Ethereum-based decentralized applications (dapps) or trade BTC on Ethereum-based decentralized exchanges (DEXs) without needing to transfer the actual BTC to the Ethereum blockchain.

The process of wrapping an asset involves locking the original asset on its blockchain and minting an equivalent amount of the wrapped asset on another blockchain. The wrapped asset is then pegged to the original asset’s value, usually through the use of a smart contract. When a user wants to redeem their wrapped asset for the original asset, the wrapped asset is burned, and the original asset is released back to the user.

Wrapped assets are useful because they allow for interoperability between different blockchains and can increase liquidity and trading volumes for certain assets. They can also enable new use cases for assets that were previously restricted to a specific blockchain.

In addition to WBTC, there are many other wrapped assets, including Wrapped Ether (WETH), Wrapped Litecoin (WLTC), and many others.

Guides

What is Wash Trading?

Published

5 months ago

March 28, 2023

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Wash trading is a practice that involves buying and selling a cryptocurrency asset for the purpose of creating the impression of greater market activity and trading volume than actually exists. It involves a trader simultaneously buying and selling the same asset to manipulate the price and create a false sense of demand and liquidity.

In the context of cryptocurrencies, wash trading is a fraudulent activity that can deceive investors and traders into thinking that a particular asset is more popular and valuable than it really is. This can lead to an artificial price increase, which can be exploited by the traders involved in the wash trading scheme.

Wash trading is typically used by unscrupulous traders and market manipulators who want to artificially inflate trading volumes or prices to attract other investors or traders to buy the asset. It is also sometimes used to manipulate prices to trigger stop-loss orders or liquidations, which can cause panic selling and create opportunities for the wash traders to profit.

Wash trading is illegal in traditional financial markets, and many jurisdictions have laws against it. In the crypto industry, some exchanges and regulators have taken steps to crack down on wash trading, including implementing monitoring tools to detect and prevent it.

Investors and traders should be cautious of assets with unusually high trading volumes, as they may be subject to wash trading. It’s important to do your own research and use reliable sources of information before investing in any cryptocurrency.