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.