A metaverse filled with NFTs of monkeys, punks and cats

Bored monkeys, pixelated people with mohawks and cute kittens: this is what the new metaverse of what is probably the most expensive members club in the world could soon look like.

The company behind Bored Ape Yacht Club (BAYC), Yuga Laboratoriesreleased the trailer on March 19 for what appears to be a virtual world that brings together the eponymous Bored Apes with a host of other popular NFT collections.

The short video not only shows a bored monkey, but also animated specimens from the collections Mutant Ape Yacht Club, Cool Cats, CryptoPunks, CrypToadz, Meebits, Names and Women’s world.

The project is called Other side (in German: Other Side) and should be available from April.

BAYC bubble inflates

It wasn’t until March 17 that BAYC launched with an Ethereum token called ApeCoin (APE). It is “a culture, gaming and commerce token designed to power a decentralized community at the cutting edge of Web 3.0,” wrote the official Twitter account for the new token. The Member Club Coin is not Yuga Labs, but the ApeCoin DAO. The token is intended to give BAYC members certain preferential rights.

While the APE soared almost vertically after the issue, the initial hype has since flattened again. The token is currently trading at $10.53, a correction of 4.1% on a daily basis.

Along with the ApeCoin announcement, game developers and venture capitalists got in touch Animoca brands in word. The company explained on Twitter that it will also incorporate ApeCoin into a “secret project” the investment firm is working on with BAYC. However, Animoca Brands is best known for its involvement in the NFT and Metaverse sectors and has participated in well-known projects such as The Sandbox or OpenSea.

Waiting post the Hong Kong-based company also posted the above trailer on Twitter. So, putting two and one together, it’s safe to assume that the new BAYC Metaverse project will be endorsed by Animoca Brands. Moreover, the new ApeCoin (APE) could act as a native token of the virtual world.

Is it art or can it disappear?

Although hypes are part of the process by which new industry sectors are formed, one still needs to think carefully about the core value of a project.

Ultimately, the hypes may also subside. Stars like Eminem, Justin Bieber or Heidi Klum belong to one or the other virtual club. The phenomenon of classic real-world celebrity hotspots, which change every few weeks, can possibly also be transferred to virtual member clubs here.

So it’s more complicated than the amusing pictures of little monkeys suggest. While in movies it is usually enough to be introduced to a code word to access exclusive clubs, in this case entry costs “only” a small JPEG – but with a correspondingly higher price that it is currently at least 99.99 ETH (around US$291,000).

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