- Otherside Meta to offer another limited mint of NFT for former holders.
- APE token staking expected at the end of October.
- Otherdeeds floor price slides to 1.7 ETH, game viewed as more affordable now.
Otherside Meta, the metaverse game built by Yuga Labs, is now reminding of itself with a new NFT mint. The game is also closely watched, for its promise to bring a gaming experience this October.
The new mint is a special perk for Otherdeed holders, with a 0.2 ETH price for all others.
Otherside Meta was created following the hype for Bored Ape Yacht Club (BAYC), one of the most high-profile NFT collections. While Apes have lost value, and some may never return to their peak valuations, the Web3 projects of Yuga Labs have a chance to continue growing.
Otherside Meta is currently at a stage where Habitat trading is still the leading activity. BAYC owners and Otherside Meta holders are also influencers in the NFT space, giving visibility to other collections.
Still around 90 users per day move Otherdeed NFT. The OTHR token, representing the in-game habitats, currently has 34,022 owners. In total, OTHR will have a max supply of 100K habitats, wrapped as Ethereum-based ERC-271 tokens, or NFT.
The Otherdeed holding may be meaningful within the game, as the tokens lost their floor price based on recent data. The Otherdeed floor price sank from a peak of 5 ETH to a current level of 1.7 ETH. This is still relatively high, but shows that NFT collections strongly rely on hype. OTHR is an asset that continues to encourage holding, which partially saves the collection from a slide to extremely low floor prices.
Additionally, Otherdeeds will grow over time, with only a third of the supply minted. The game will have to show the actual value of owning an Otherdeed for a habitat.
Otherside to Launch Staking in October
Apecoin (APE) was created as the main crypto asset in the Yuga Labs ecosystem. APE currently trades at $5.27 and is among the top 50 crypto assets, still retaining some of its value. APE staking may be open on Otherside Meta at the end of October.
APE has the advantage of being highly liquid, with multiple trading pairs and accessibility on Coinbase. This means that when built, Otherside Meta may have a much easier path to monetization compared to other gaming ecosystems.