Max E.Tue, Mar 22, 2022 1:01 PM
Yuga Labs Announces A New Project
On March 19, Yuga Labs published a video announcing the upcoming release of a new project under the name "Otherside" with its key components being trade, gaming and culture.
Yuga Labs announced the release date of “Otherside” – April 2022. Characters from the BAYC and MAYC collections, as well as CryptoPunks and Meebits, made an appearance in the video. Yuga Labs bought the licensing rights to Meebits a week ago.
The “See you on the other side in April” trailer talks about a project that uses the ApeCoin token, which was introduced on March 17. It is expected that 1 billion coins will be released, and that number will remain unchanged. 150 million APE as well as its derivative assets – MAYC and NAKC – will be distributed among the holders of BAYC NFTs. Token holders will be able to participate in the activities of the BAYC DAO and access exclusive services, promotions and products.
The announcement of “Otherside”, which took place shortly after the launch of ApeCoin, increased the excitement in connection with the plans of Yuga Labs projects to reach a new level. However, this did not help the price of the token grow: over the last 24 hours, it has fallen by 7.35%. The current price of the asset is $10.21.
According to the NFT marketplace OpenSea, over the past 7 days, the volume of trading in BAYC tokens has jumped by 375%. MAYC and NAKC grew by 314% and 861% respectively