News Report
May 02, 2022

‘Otherdeed for Otherside’ hits OpenSea’s Top 10 in 24 Hours

‘Otherdeed for Otherside’ hits OpenSea’s Top 10 in 24 Hours

Last Saturday, on April 30, the Bored Ape Yacht Club’s Otherside project released a drop of digital land NFTs or Otherdeeds. The result? The company’s property token entered OpenSea’s Top 10 list almost instantly, taking the spot away from the popular gaming metaverse The Sandbox.

The collection currently ranks 8th in the all-time top NFT collections by OpenSea and has surpassed The Sandbox’s trading volume with 156,275 ETH. The Sandbox is left behind with 152,320 ETH in sales, and other collections below Otherdeed include Moonbirds, Meebits, Cool Cats, and Doodles.

The current floor price of an Otherdeed is 4.45 ETH (approximately $12,500).

The Otherdeed in the BAYC’s Otherside metaverse acts as a key to a spot of land in the new BAYC digital world. With the launch of the metaverse, the company sold a total of 100,000 deeds at a mint price of 305 ApeCoin (approximately $4,900), plus Ethereum fees to cover gas. There should be 200,000 Otherdeeds in Otherside, which means that the next 100,000 will be allocated in the coming months.

Otherdeeds are dynamic and the land changes according to the player and owner of the land. The landowners are also creators who will eventually shape the whole Otherside metaverse. As the project description notes, “each have a unique blend of environment and sediment — some with resources, some home to powerful artifacts.” 

Ten percent of Otherdeed owners will receive Kodas, celestial creatures which are a part of the metaverse. 

When the Otherside metaverse launched, $154 million (55,225 ETH) was burned during land minting because the contract had no gas optimizations. The founders of BAYC, Yuga Labs, have blamed Ethereum for the lost cash.

Due to harsh criticism against BAYC creators, ApeCoin has plummeted to $15.88. Its all-time high last week almost reached $27. In the last 24 hours, the token lost almost 10% of its value. The Otherdeeds project thus far is considered the largest NFT mint to date that led Etherscan to crash and cause users to lose millions in gas fees.

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In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

More articles
Agne Cimerman
Agne Cimerman

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

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