Otherdeed
Community anticipation builds for Otherside’s First Trip demo run
The Otherside, a gamified metaverse project associated with the Bored Ape Yacht Club, is scheduled to deploy a technical demonstration of the first stage of the Otherside roadmap on Sunday, July 17 at 4 pm UTC. The First Trip experience will be exclusively accessible to Otherdeed land owners, known as Voyagers, and has been described by the platform as a “celebration of what’s to come and an opportunity for Voyagers to gather, explore, and plan.” The company indicated that thousands of users could participate in the event, navigating through the curated arena of play that has been specifically designed for the test, as well as guinea-pigging the “3D, hi-res Voyager prototypes that can walk, run, jump and emote,” and a “private, tokengated live stream,” among other novel features...
Ethereum burning spikes to new high on Yuga Labs’ NFT hype
The burning rate of Ethereum has spiked to new all-time high (ATH) levels following the heavily anticipated sale of tokenized land plots in Yuga Labs’ upcoming Metaverse project the “Otherside.” Yuga Labs, the creators of the Bored Ape Yacht Club (BAYC), sold 55,000 virtual land nonfungible tokens (NFTs) dubbed “Otherdeeds” on Sunday. The overwhelming demand for the tokens saw Ethereum gas fees shoot up so high that a handful of users paid as high as 2.6 Ether (ETH), or $7,400 at the time of writing, to 5 ETH, or $14,270, just to get their transactions through. A base fee of ETH is burned during each transaction on the network following the implementation of the London hard fork, or EIP-1559 upgrade, last year. According to data compiled from Glassnode and Data Always, nearly 70,000 E...
