The creators of Bored Ape Yacht Club have a lot to prove with their startup Yuga, a gaming platform called Otherside.
Few entertainment startups have had as much community pressure as they have on their first game. The NFT bull run, which made early Bored Apes holders and the project's founders very rich, also made a lot of enemies who decried NFTs as ponzi schemes. Many recent retail investors in the sector have lost a lot due to the recent crash in the price ofCryptocurrencies.
It is difficult for Yuga to maintain a community of NFT holders throughout the development of the otherside title. The startup has to reckon with skepticism of the gaming community surrounding NFTs, as well as transitioning from the exclusiveness of its expensive clubs to the mass appeal of an online game.
It would mean a lot to Yuga's VCs, who gave it an unheard of $4 billion seed stage valuation, but it could also mean a lot to the fundamental idea of web3 ownership.
The most interesting question will be if the other metaverses are open. Are they still open? The CEO of Yuga asked in an interview. Do you own yourself? That is the first question. Do you own the person?
There is a large amount of concurrent gaming in the First trip demo. The image was created by Yuga labs.
A large private demo of Otherside was held on Saturday, where 4,500 Yuga community members were able to log in at the same time. The users were all dressed up as multicolored robotavatars, with only a single Bored Ape in sight, and a very large one named "Curtis" guiding the thousands of users through the experience that showcased controls and brought users their first taste of the Otherside platform.
The demo went off without any issues. The experience was more interesting because there was a real person behind every one of them. The demo gave the social vibes of a small festival while moving from space to space with a lot of people on each side.
Users will be able to build and monetize experiences in the virtual world on virtual land that can be bought and sold if they choose to use Otherside.
It's one thing to put a lot of people into a space, but it's another to give them something worth doing. A 4,500 vs. 1 boss fight in Otherside was a very unique experience, but it is clear that this level of concurrent play can get chaotic very quickly, and could enable a new scale of experience that titles like Fall Guys scratched the surface of.
The image was created by Yuga labs.
It doesn't mean that outside developers building on the platform will be pushed to design everything for a concurrent audience of thousands.
She says that as a developer, you have the ability to build whatever makes sense in your world and whatever vision you can come up with. Unless you're invading on other people's rights, it's a free, open world.
When other games have been able to achieve huge audiences with smaller concurrent groups of players, Gordon Goner says their team is trying to build the "best metaverse possible."
Goner says that it's possible to build a city where thousands of people interact with each other.
The Otherside launch is a big win for the U.K. based Improbable, which is developing the title. Five years ago, the startup banked $500 million on its vision, and recently raised $150 million at a $1 billion value.
The fourth generation of technology started in Herman Narula's house. It has been a long time since evolution began. We have become the world's leading provider of Multiplayer Experiences.
The team is adamant that there are plenty of community tests ahead for Yuga NFT holders as they fine-tune and crowd source their vision. The community is iterating and co-developing the metaverse.
Many games have had the fortunes of major publishers tied up in their future success, but few have had the success of their actual players. Users have already invested in the future promise of Otherside. In a land sale for the game, the startup made over $300 million.
This sale preceded a large drop-off in the price of largely all Cryptocurrencies, hitting the native ApeCoin token that users paid for their land with, dragging it down nearly 90% from its pre-sale highs. Users spent around $5,800USD to mint an Otherdeed at launch and the floor price still sits around 30% below that price, leaving them hopeful that their investment will eventually pay off. A $450 million seed round was raised by the startup in March.
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The demo comes at a time when other so-called play-to-earn gaming titles have received criticism for their economic models. The full scope of Yuga's monetization plans for their network are still in development and the founders have yet to nail down timing for a wide public launch.
We are not seeing the sort of 50% rake that we are seeing in other places. Assets can be user generated, user owned, and moved off the platform.
The company's founders took shots at other metaverse platforms with high take rates, even though they didn't say the company's name. There is a tax on goods sold in-headset. It is possible that Yuga is hesitant to criticize the company directly due to the fact that virtual reality is going to be big for Otherside.
Users potentially losing the ability to access the platform via traditional app stores will likely be an adoption hurdle as hardware platforms continue to tightly control web browser capabilities.
This is really seeing as multi platform. Virtual reality is going to be an important platform for us. While there is likely going to be a local component to this where people are running a local version of the game and the world, you still want the link and you still want someone to be able to send a message out.
The article stated that Improbable had recently raised a down round, but it was actually a token sale for a new legal entity.
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