August 20, 2022

POINT TRIAL

PORTAL GENERAL BLOG

“Otherside” Metaverse to be Built by Bored Apes Founders

1 min read

The founders of the renowned NFT project Bored Ape Yacht Club (BAYC) are contemplating launching their own metaverse gaming platform, Otherside.

The game will be built by their new start-up Yuga. Success for Otherside would mean a great deal to Yuga’s investors, who valued it at an unprecedented $4 billion at the seed stage.

However, it could also mean a great deal for the fundamental concept of web3 “ownership” when tech’s biggest players, led by Meta, are predicting a metaverse revolution.

Bored Apes co-founder Gordon Goner said, “We can build a city where thousands of people interact — this is like the level of Grand Theft Auto but in real-time with real players.”

Even though the Bored Apes NFT audience is still rather specialized, the Otherside launch is a significant accomplishment for the U.K.-based Improbable, which is creating the game. To fund its new “metaverse network,” M2, the business just secured $150 million at a $1 billion valuation. Five years ago, it staked $500 million on its multiplayer idea.

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