EVERYTHING IS TOKEN: Yuga Labs Give The Web3 World Its First Look At The Complete Tokenization Of Otherside!

Everything will be token around the swamp soon, and $Ape is the coin of the realm.

As Yuga Labs gets ready to roll out its first always on Otherside experience this July, the team gave everyone a look at how the metaverse will eventually be filled with tokens and collectibles that literally live onchain.

 

Late last week, Yuga Labs gave the Web3 world a major update on Otherside, announcing new experiences, new tools, and a glimpse at what’s to come, like the tokenization of its highly anticipated metaverse.

“Otherside is a new kind of blockchain platform,” Yuga Labs explained. “When you interact with an object, like a token, you’ll actually be interacting and collecting onchain. Otherside supports ERC-20, ERC-1155, ERC-721 and a few other standards, which means tokens, items, and quests are all seamless onchain transactions. Everything runs on ApeChain - $APE is the coin of the realm.”

 

According to Yuga Labs CEO Garga, the team decided over a year and a half ago to make as much of Otherside as possible fully onchain, minimizing its reliance on databases to create a truly Web3 metaverse.

“It’s one thing to create a metaverse or a virtual like Otherside there are web2 versions of that. But to create one that can reward people and where people can launch and build crypto native primitives from within it that’s where these starts be something really super special,” Garga said on Meet at the Clubhouse on Friday. “I think the idea of people getting to utilize tokens and NFTs as collectibles and rewards for their own ODK experiences and also for us to use them in our own kind of mainline stuff, I think that’s what gets me most excited. Cause that’s where I see us doing something…There will be emergent behaviors and gameplay where I don’t know what the end state looks like…And that’s the best place to be when you’re building a platform.”

 

As Apes, Voyagers, gamers, and more wait to break on through to the Otherside and start collecting tokens, Garga got everyone’s minds racing with an idea that blends this tech with some nostalgic vibes.

“Can't wait until somebody builds a multiplayer Sonic on Otherside where we all run around grabbing real tokies,” Garga tweeted. “The Otherside fair/skill-based token launch.”

 

Other Apes and $Apes quickly took to the timeline to speculate about how this in game token collecting experience could impact minting and buying tokens.

“People are going to be able to launch PumpFun type things where its an experience and then they drop a token and everyone has to rush into that game,” Yuga Labs’ IllaDaProducer said on Friday’s Meet At The Clubhouse space. “It’s on the timeline and everyone’s like oh my God there’s a token drop… Then you can only collect X amount for a certain time period, then you just run around and grab as much treasure as you fucking want, and that’s the new token launch mechanic! That’s going to set the timeline on fire.”

The Bored Ape Gazette will continue to follow the tokenization of Otherside and will let you know when you can start seamlessly launching and collecting coins and more in the metaverse. Stay tuned for updates!