“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.

On March 16, 2022, the APE Foundation announced the launch of the ApeCoin token. ApeCoin is a currency for culture, gaming, and commerce that the community possesses and can grow, which is governed by the ApeCoin DAO. ApeCoin is controlled by the APE Foundation. APE is a cryptocurrency aimed at boosting the club’s community.

The NFT collection of the Bored Ape Yacht Club (BAYC) will accept ApeCoin as a token. Let’s not forget that the NFT collection of Bored Ape Yacht Club is one of the most valuable by market capitalization. Following its launch in 2021, BAYC by Yuga Labs swiftly earned a reputation, drawing the attention of celebrities such as Mark Cuban, Stephen Curry, Serena Williams, Eminem, Paris Hilton, and others. BAYC will use ApeCoin in its upcoming projects.

How ApeCoin (APE) Works

Each token holder in the ApeCoin DAO will have a vested interest in the organization’s growth. The DAO’s special council (the Board) will be made up of Web3 veterans, along with gaming and technology mind leaders . The Board is in charge of supervising DAO members’ choices. Alexis Ohanian (co-founder of Reddit; general partner and founder of Seven Seven Six), Amy Wu (head of ventures and gaming at FTX), Maaria Bajwa (principal at Sound Ventures), Yat Siu (co-founder and chairman of Animoca Brands), and Dean Steinbeck (president and general counsel at Horizen Labs) make up the initial Board.

ApeCoin will be used in the APE ecosystem as a utility token. Token holders can use the token to buy additional products and services, such as a play-to-earn game developed by BAYC and nWay. What’s more, Animoca Brands accepts ApeCoin in the Benji Bananas game. “Today we’re making the ‘Club’ greater with ApeCoin,” said Alexis Ohanian, a special council member of the ApeCoin DAO, about the release of APE. After that, Alexis Ohanian added: “Every day, Web3 is becoming more and more integrated into our art, music, and culture, and it all begins with community. This community, I believe, will grow, spread, partner, and disrupt in a massive way.”

Token Distribution of ApeCoin (APE) 

The ApeCoin DAO includes a one-of-a-kind NFT with a blue edition of the Bored Ape Yacht Club logo. This NFT transfers all intellectual property rights and privileges associated with the logo to the ApeCoin DAO, whose members can decide among themselves how to use the intellectual property. “The community has been desiring ApeCoin for a long time now,” said Nicole Muniz, CEO of Yuga Labs, “therefore we’re delighted to see it come to life through community ownership.” Yuga Labs will continue to create products and experiences that are full of new ideas and excitement.”

Moreover, Yat Siu, executive chairman and co-founder of Animoca Brands, stated: “Animoca Brands is pleased to tap into the excitement of the BAYC community and make APE purchases available right away in Benji Bananas Adventures,”. After saying that, Yat Siu added the following:”As a special council member of the ApeCoin DAO, I’m happy to have a front-row seat and to support the community as the gaming sector changes along with web3 innovation.”

APE is an ERC-20 token and will be able to be used in four different ways.

1- Governance: The governance token of ApeCoin Dao is APE. The holders of APE tokens have the right to participate in voting on governance decisions.

2- Assembling the way of payment: APE ecosystem has its own utility token, APE, that can be utilized to buy products, items, goods, and services.

3- Access: ApeCoin will also serve as a gate token, allowing users to gain access to particular areas of the ecosystem, such as events and unique games.

4- Incentivise:

By integrating APE into services, games, and other projects, ApeCoin can become a tool that can allow third-party developers to engage in the ecosystem.

Tokenomics of ApeCoin (APE)

The ApeCoin tokenomics haven’t been revealed to the public yet, but based on what is known so far, there will be a total quantity of 1 billion ApeCoin tokens. Their website has information about token distribution. The distribution of the airdrop will be determined by whether the NFT owner owns a Bored Ape or a Mutant Ape, as well as if the NFT is linked with a Bored Ape Kennel Club NFT.

The Token Price of ApeCoin (APE)

The price of ApeCoin on Binance is 7.80$ as of the time I am writing this article.

What exactly is ETH Gas?

The Ethereum network uses the Gwei as a unit of gas. Miners need gas to process transactions, which is one of the main differences that seperates Ethereum from other cryptocurrencies such as Bitcoin.

“How much gas you’ll need depends on the size of the contract you’re aiming to complete and how quickly you want to complete it.” The price usually reduces if you’re patient enough to wait for a transaction to finish. Both NFT art makers and collectors benefit from understanding this idea.

If we want to have a look at the technical side, Ethereum’s native currency, ether (ETH), is used to pay gas fees. Gas costs are expressed in Gwei, which is an ETH denomination — one Gwei equals 0.000000001 ETH (10-9 ETH). Instead of claiming that your gas costs 0.000000001 Ether, you may say that it costs 1 Gwei.

Why is there Gas?

The gas in Ethereum is a crucial regulator that prohibits spamming the network. All Ethereum computations push the security measure to its limit. Gas limits, which are paid for with each computational execution, have the mission to ensure that bad individuals do not exploit unsorted amounts of processing power to become de-facto coders on the Ethereum network and corrupt the future they worked hard for creating.

Why Gas is so important for NFT arts and artists?

Gas has two sides to it. When gas costs are rising, it is difficult for uprising artists to generate, mint, and even purchase other works. Some artists try to include the cost of gas into their paintings (which indicates that they are ready to lower the cost of their art, to make their art easier to buy.) This creates a catch-22 because the art’s perceived “worth” is reduced when collectors are deciding whether or not to spend 25-57 percent of the overall purchase price on gas. Artists aiming to build a reputation for themselves face a difficult situation in this regard. On the other hand, artists might overcharge while selling their work (paying higher marketplace and gas costs) in order to get their work published before they have built a reputation for themselves to be able to charge that much.

Overwhelming and Absurd NFT Gas Cases

We’ve seen gas costs exceed the cost of a piece of art being created in some cases, leaving artist in a very difficult situation to put their work online. Actually, making it impossible for the artist.

Solutions for NFT Gas

Allow the NFT Artists to have more power when their work is minted. Many marketplaces only let artists to create something at the very moment they click mint. Artists should be able to choose how long they want to wait for network congestion to clear before publishing. This is already implemented in NFTGateway (As far as I know). The painting isn’t minted until it has been bought during a drop. The art might not appear in wallets instantly, the transaction might take 24 hours. While we haven’t experienced such a long wait, we have seen up to two-hour waits for costly drops expectations.

The User receives back any unused gas

Finally, it’s essential to emphasize that not all transactions use the total gas supply. This should be better stated, and we’ll need to undertake further studies to find out what proportion of gas is returned on average. However, you’re essentially accepting to a maximum amount of gas fees that you’ll pay to complete the deal.