Yuga Labs, Bored Ape, are expecting to make a lot of money from the selling of lands on their metaverse project. The firm is introducing an auction of approximately 55,000 Non-fungible tokens (NFT) deeds of the land of Otherside, with a potential value of over $300 million.
Only addresses that have been KYC-approved will be eligible to mint during the auction, which starts today, April 30.
The expected revenue was calculated using the land price of 305 ApeCoin ($APE). At the current price of $23.94, that’s over $7,300, which means Yuga Labs and its partners will make nearly $400 million if all of the lands are claimed.
Ape Coins value has risen dramatically in recent days as a result of the announcement that it will be the purchase token. However, many people believe the price will fall following the sale.
Despite the fact that Otherside has yet to show what it has to offer in terms of gameplay, there are high hopes for it. It represents a potential for Yuga Labs to expand beyond its extremely exclusive Ape NFTs to build a broader platform for NFTs.
Other popular NFT collections, such as World of Women and Cool Cats, will be included into the site. This means that owners of those NFTs will be allowed to play as their own character in Otherside. However, there are still many unknowns.
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