The launch and sale of the NFT land of Otherdeed was very similar to the journey Bored Ape took in the trailer for the new Otherside metaverse after drinking the potion: hysterical scenes on the blockchain with rollercoaster price changes and the near-collapse of the Ethereum network. But with all this, in less than half a year, the project confidently took its place among the best NFT collections, even before it was fully launched. Marvelous!
Why the start of sales caused such a crazy reaction from the community, who created the collection and what is the peculiarity of dynamic lands – read further in our article.
It is worth noting that in this article we are doing a detailed analysis of the Otherdeed for Otherside themselves, their features, attributes and sales. In addition, we have prepared an extensive review of the Metaverse itself in the “Otherside” article, in which you will learn about the launch features, their roadmap, and the functionality of the Metaverse itself.
- Official website: https://otherside.xyz/
- Twitter @OthersideMeta – more than 241K readers
- Discord @otherside – more than 133K members
- YouTube @YugaLabs – more than 13K subscribers
Otherdeed for Otherside in numbers
- Collection released April 30, 2022,
- A total of 200K lands in the collection, of which 100K are still blocked.
- Market capitalization reached 380.9K ETH (approximately $800 million),
- Sales exceeded 470K ETH (approximately $1.1 billion),
- The collection takes 5th place in the ranking of the best collections in terms of sales on the largest OpenSea marketplace.
- Due to the great interest, large-scale buying and minting of NFT, users paid more than $160 million of gas in the first day after launch. These are some of the highest gas fees in the history of the Ethereum network.
- The initial sale was for a fixed price of 305 ApeCoin (approximately $6,000 or 2.1 ETH).
- The first 55,000 NFTs were sold in a short time and brought in more than 300 million US dollars to the project team.
- Now the cheapest land costs 1.7 ETH, and the average sales fluctuate between 1.7-3 ETH.
- Out of 100,000 NFTs, only 3% are for sale, which is a good sign that all owners are not just speculators. They are not in a hurry to get rid of the earth, having received a small profit, but are waiting for the launch of the metaverse and are the followers of the project.
- The entire collection is distributed among slightly more than 34K unique crypto wallets, that is, there are approximately 3 tokens per wallet.
What is NFT Otherdeed for Otherside?
Otherdeeds for Otherside is a collection of 200,000 NFTs representing land ownership in the OtherSide metaverse. What is important is that these are dynamic NFTs and contain all game elements. Every Otherdeed comes with a set of resources, and some (very few) include Koda (more on that in a moment).
Instead of presenting a static image of a piece of land, Yuga Labs designed Otherdeeds to evolve with what users choose to do in the game. However, it is said that their true potential can only be unlocked with time. And this further exacerbates the mystery surrounding these digital stories.
Who created NFT Otherdeed for Otherside?
NFTs Otherdeed for Otherside was created by Yuga Labs. This is the team behind the well-known and successful collections Bored Ape Yacht Club, Mutant Ape Yacht Club.
Read our detailed review of this studio in the article Yuga Labs is the leading record company in the NFT market.
In the creation of the metaverse, such giants as partners are also partners:
- Animoca Brands, known for the metaverse projects The Sandbox and Axie Infinity,
- Improbable, one of the world’s premier metaverse and game companies.
What does the NFT Otherdeed for Otherside look like?
When choosing an NFT from this collection, please note the following information with your NFT in addition to the Otherdeed image:
- At the top, you will find the sediment icon, which indicates which sediment the Other Document contains.
- Below is the name of the country and, for clarity, the name of the sediment.
- The number of dots under the name indicates how rare this piece of land is.
- If there are Artifacts in your country, this is indicated under the country image.
- Here you can also find out if this piece of land is inhabited by a Koda.
Attributes and traits in a collection
The collection contains 28 different features, but, in fact, they can be grouped into 5 main features, which can be used to assess the value and uniqueness of a particular site.
- Resources (dynamic),
- Artifact (dynamic),
- Koda (dynamic).
Each NFT contains an Environment and a Sediment. Resources, artifacts, and Kodas are interchangeable traits that a story can have. By the way, Kodas and artifacts are the least common things that can be found on earth.
Lands can be one of 29 environment types: Swamp, Glacier, Barrens, Molten, Thornwood, Shards, Biolum, Sands, Ruins, Sulfuric Water, Wastelands, Mystic, Weldan, Spiers, Malva, Crimson, Jungle, Plague, Bone, Crystal , Sky, Shadow, Mycelium, Obsidian, Silt, Glitter, Botanical, Acid, Chaos. They are ordered from least rare (Swamp) (7%) to most rare (Chaos) (0.11%).
There are 5 types of sediment or soil layers on which NFT Otherdeeds for Otherside can be built. These are also the levels in which the Earths are classified.
- Biogenic swamp – 10000,
- Chemical goo – 20000,
- Rainbow atmos – 22000,
- Cosmic dream – 23000,
- Infinite expansion – 25000.
Sediment in this list are also registered by their distance from the very center of the metaverse:
- That is, in the very center are Biogenic swamp, and, accordingly, the most expensive.
- And on the outskirts are Cosmic dream and Infinite expansion. Accordingly, they are much cheaper than those who are higher.
You will realize that your plot of land also contains the necessary replenishing resources that you can collect, use or sell over time. Moreover, 4 types of resources are allocated in 4 cardinal directions:
- Southern (from Moldium, Whisper to Dimensional, Stonecrop),
- Northern (from Psychosilk, Petrified to Sporicite, Fragmentia),
- Western (from Nether, Psychosilk to Dimensional, Fragmentia),
- Eastern (from Bonestone, Nether to Galactica, Stonecrop).
On the very image of the land in the characteristics, you can see 4 types of resources, but it is not necessary that your site contains all 4 types.
But what is more important is the type of your resources:
- Anima (research),
- Ore (metal),
- Shard (stone),
- Root (tree).
It is not yet known exactly how various resources will be used, but one thing is clear – this is a very important component of the land that determines its use.
21% of NFTs from the entire collection possess various artifacts, i.e. valuable treasures and tools. The capabilities of some artifacts are not entirely clear at this stage of unlocking the OtherSide (for example, what can be done with the slimy eyeball?). Gradually, the purpose, function and value of the artifacts will become clear. Although Yuga Labs did not specify the exact role of the Artifacts, it can be assumed that they will be the keys to future gameplay.
There are 74 different artifacts:
- the most common of which are Ancient Coin (1%), Banana peel (0.9%), Rugged Ax (0.9%),
- The rarest of them are 9 pieces 1 to 1. Some of them are: Sword of Chosen, Pandora’s Box, Mystery Potion, Mirror Mirror.
Kodas live in Otherside. These are some kind of alien figures that seem harmless so far and can be useful on your earth.
- From the entire collection, Kodas live in 10,000 lands.
- And among them, only 99 pieces are mega Kodas, the rarest Kodas with sophisticated weapons and elegant clothes.
- All Kodas have Eyes, Head, Core traits;
- Only 30% of all Kodas have no clothes,
- 31% of Kodas have weapons.
We do not know why they brought us here or their relationship to this land. If you happen to meet Koda, tread carefully.Yuga Labs said
These are the creatures that, according to Yuga Labs, “took us to the Otherside.” What’s more, the narrative around Koda is deliberately vague, as users aren’t supposed to know exactly who they are or why they exist – other than that, they have a connection to the Otherside.
Where is your NFT Otherdeed in The metaverse Otherside?
If you click “Explore” on the official website, you will see a realistic map of The Otherside, which contains various Otherdeeds.
The center of this world is, of course, the Bored Yacht Club itself. Each land is numbered. For example, if you have NFT Otherdeed #12, then you are practically neighbors of Bored Ape Yacht Club.
So, let’s look at the distribution of the entire stock of tokens in the initial distribution.
In total, the project has 200,000 NFTs in the mint:
1. 100,000 minted at launch.
• 55,000 NFTs were publicly traded for 305 APEs (about $6,000 at the time of sale) and sold out within 159 minutes (about $300 million at the time). There was a bit of a lottery here, as the sale resulted in buyers getting different rarities and distances from the center of the earth on Rainbow Atmos, Cosmic Dream, and Infinite Expanse.
• 10,000 has been allocated to BAYC holders as an airdrop. It is noteworthy that they got the most central lands on the Biogenic swamp.
• 20,000 has been allocated to MAYC holders across the swamp at Chemical goo.
• 15,000 for the Yuga team and other project developers on Rainbow Atmos, Cosmic Dream, and Infinite Expanse.
2. 100,000 will be rewarded to Otherdeed holders based on their contribution during the testing phase of the game.
With Otherdeed, you can participate in the prototyping, demos, and tests that shape the final game design and experience.Here is an excerpt taken from their website
Contributions from Otherdeed holders are likely to be simple tasks that don’t require any development knowledge, but will help the team with beta testing, early feedback, etc.
First sales of NFT Otherdeeds for Otherside
This global project made a lot of noise at the very start – at the primary sales. Let’s talk about this in more detail.
Start of sales of Otherdeed for Otherside
At the Otherdeed sale, despite being a huge sales success, a few things went very badly. At the end of March, it was announced that the sale would take place on April 30th. And payment will be made only in ApeCoin, the native currency of Yuga Labs.
In addition, in order to participate in the sale, you must first complete the KYC procedure (this is a customer identification procedure to prevent fraud and bots).
The first 55,000 The Otherdeeds were sold at a fixed price of 305 ApeCoin (approximately $6,000). Not a bad amount, but that didn’t stop anyone.
If you look at the numbers, without looking at everything that is happening around, it looks pretty impressive. NFTs were sold in a short time and brought in about $300 million.
Crazy gas fees at the start of sales
Due to high demand, users tried to outbid each other to “jump the line”. This led to a spike in gas fees, with one user paying up to $44,000 in gas to mint just two tokens.
Because the Ethereum Blockchain structure allows miners to pay whether or not a transaction went through, there have been instances of users paying up to thousands of dollars for gas only to find out that their transactions were not logged on the network.
However, Yuga Labs acknowledged the bottleneck and posted a tweet saying they would refund the gas to those affected. They also apologized for “turning off the lights on Ethereum”. The team also acknowledged that they will eventually have to move to their own network in order to scale properly.
Why is NFT Otherdeed for Otherside so popular and expensive?
- At least one reason is explained only by the name of the team of creators. Now everything that Yuga Labs releases will automatically be very popular, expensive and high-status in the community.
- NFTs Otherdeed are the key to the promising metaverse being created by the best minds and brands in the market. From the technological and marketing side, they have no equal today. And their storytelling keeps the entire community in suspense, suspense and intrigue. And the whole paradox is that the project is still under development, and they have already made a lot of noise.
- Unlike lands in other metaverses, where the cost depends only on the area, location and neighborhood, here are unique interactive developments. That is, the presence of artifacts, resources, deposits make each site truly unique. Therefore, everyone wants to buy a piece of land more interesting, unusual and unique. After all, until now no one knows how all the features and attributes will manifest themselves in the future.
- The uniqueness is that Otherdeeds are dynamic NFTs. This means that the traits of the token can be changed depending on what you are doing in the game. Having interchangeable traits means you will be able to add/remove resources from your land, creating a secondary market for each individual item.
In fact, it cannot be said here that NFT Otherdeeds is popular. The popular metaverse is Otherside, which, by the way, hasn’t even launched for multiplayer yet.
What rights do owners of Otherdeed for Otherside have?
Another important point in the metaverse is the ownership of the virtual earth.
Owning an NFT Otherdeed gives you the right to trade it, which is crucial in the market.
However, Otherdeed does not grant the owner rights to any image or intellectual property related to NFT. Otherside’s license agreement also serves as a milestone for its own ecosystem. The license agreement does not allow any owner to profit from NFTs of other creators. For now, Otherdeeds serve personal and non-commercial display purposes in a virtual gallery.
Yuga Labs unusually describe future plans with their inherent mystery. We write about this in detail in our article «Otherside».
In March, Yuga Labs also released a trailer showing a brief introductory storyline featuring various blue-chip projects.
Thus, the project ecosystem is presented in the form of successful collections that will be integrated into the metaverse:
- Bored Ape Yacht Club,
- Mutant Ape Yacht Club,
- Bored Ape Kennel Club,
- World of Women,
- Cool Cats.
What exactly is the role of each hero and what will be the difference between the collections in the metaverse itself – there is no information yet. But the trailer released by Yuga Labs
How much does Otherdeed for Otherside cost?
Initially, on April 30, 2022, sales were carried out at a fixed price of 305 ApeCoin (about $6,000 or 2.1 ETH at that rate). As a result, all NFTs were sold out very quickly, and this provoked one of the largest gas wars in the Ethereum network.
To visualize the price dynamics, we made a cut at the average price for 1 NFT:
- in May 2022 – 9.3 ETH,
- in July 2022 – 6.7 ETH,
- in August 2022 – 5.1 ETH,
Now (October 2022) the minimum price is 1.7 ETH. On average, the latest sales are in the range of 1.7-3 ETH.
Most Expensive Otherdeed for Otherside Sales
- #33 sold on May 5, 2022 for a record 333.33 ETH ($916K at the time of purchase). The site is located on the Biogenic swamp in the very center of the metaverse, has rare resources and ooze, and Koda walks through it without clothes and with a rare type of eyes and head.
- #24 sold on May 3, 2022 for 333 ETH ($925K at the time of purchase). This is also the central site on the Biogenic swamp with rare resources and the Fire sale scroll artifact.
- #9 sold on May 2, 2022 for 300 ETH ($857K at the time). This is the center lot in the second row from the Bored Ape House. It’s also located on the Biogenic swamp, has two resource types, and a fairly rare Thornwood environment.
- #66 sold on May 5, 2022 for 290 ETH ($797K at the time). The earth is also located on the Biogenic swamp in the center with a rare artifact, two types of resources and an Environment in the form of Obsidian.
Where to buy NFT Otherdeed for Otherside?
Primary sales took place on the official website. NFTs Otherdeed for Otherside can now be purchased on many secondary marketplaces, including OpenSea, LooksRare, Rarible and Coinbase.
In the future, Otherside’s own trading platform will be the main center for buying/selling gaming assets. Apecoin will be the only currency used for transactions.
How to buy NFT Otherdeed for Otherside?
- Remember that initially you need to connect your crypto wallet with self-storage to the marketplace of your choice.
- Next, find the official collection using the search bar on the marketplace,
- Analyze and choose the NFT you want to buy; click on it and then on the “Buy” button.
- Or you can bet on the token you like. Make sure you leave enough ETH for gas or transaction fees. If the seller approves your bid, the deal goes through.
The future of the Otherdeed for Otherside
The purchase of Otherdeeds for Otherside is just the first step in the massive community acceptance of the new global metaverse. The best companies, the best minds and the best developments are already involved in its development. These NFTs keep many secrets, including because they are dynamic. And in general, the whole project is still shrouded in secrets and conjectures. Our team is also looking forward to the further development of an unusual and global interactive project. We are sure that this metaverse will still surprise us all.
Should you invest in NFT Otherdeed for Otherside?
Investing in NFT Otherdeeds for Otherside is a promising investment:
- Firstly, in this case, you are investing in big names of creators with an impressive portfolio. These are companies such as Yuga Labs, Animoca Brands, Improbable. The products of such companies will never depreciate.
- Secondly, there is less and less time left before the large-scale launch of the project, and no one understands the real application and value of each attribute and feature of the site. Therefore, you have the opportunity to purchase a unique and truly rare item.
- By purchasing NFT now, you can join the Voyager community. So, you can explore the metaverse and find vulnerabilities in it. And as a result of your study, there is a chance that you will get one of the 100,000 blocked lands, which at that time will cost even more.
When evaluating the best Otherdeed land to buy, investors should look at:
The rarity of each of these Otherdeeds is very important in determining the value (you can see the rarity in the characteristics on the marketplaces). For example, a weaponized Koda is less common than an unarmed Koda. When choosing a location, the investor can take into account not only the proximity to the center, but also the proximity to other sites owned by him.
In any case, do your own in-depth analysis and research when investing in NFTs, and then make your own decisions.
Otherdeed for Otherside NFT is not as exclusive as other collections in the BAYC ecosystem. But this is not the main thing here – the earth is the entrance ticket to the global metaverse, which is still being built by the famous Yuga Labs, Animoca Brands and Improbable. Yes, the process is not fast, but it is expected to be very exciting, innovative and revolutionary from a technical and strategic point of view.
So far, we can see for sure that the project team managed to drive everyone crazy even at the stage of primary sales, and now maintaining the interest of fans on Twitter. And how they further unfold the entire scenario – we will closely monitor.