Yuga Labs plans to launch its Otherside Metaverse this month
Yuga Labs, BAYC's parent company, is set to drop their highly anticipated Otherside project on April 30 at 12 pm ET.
According to Yuga officials, this one-of-a-kind metaverse is an RPG that will work with all kinds of NFTs. Yuga Labs also launched Otherside's official Discord server, which has caused a stir on the platform. At present, the server has over 130K members.
Following the announcement, the price of $ApeCoin soared by 40%, reaching $21.61 at the time of writing.
Yuga Labs tweeted about the auction:
"BAYC/MAYC holders do not need to approve their wallets to claim — only to mint during the auction, you don’t have to pre-approve early — you can approve your wallet after the launch at 12pm ET, but doing it a few hours earlier will save you time and gas fees.”
Only members whose KYC was approved on Otherside's announcement website can participate in the upcoming mint. Apart from this, existing BAYC and MAYC holders can claim the NFT for up to 21 days without KYC approval. However, in order to mint during the auction, they also need to be KYC - verified.
Furthermore, the upcoming mint will only accept transactions in ApeCoin. Even so, some ETH will be required to cover gas costs.
The mint will be a Dutch auction, therefore ApeCoin price will decline over time. The team will announce the starting price for the Dutch auction later this week. In addition, Otherside will lock up all ApeCoin earned from the auction for a year.
There will be no surprises, pre-sales, or giveaways, so keep that in mind. With scammers on the rise, make sure to only get updates from Otherside's official pages.