Rise of the (metaverse) of the Apes

The Bored Ape Yacht Club has once again captured headlines, this time for its metaverse project.

Renowned as one of the most iconic NFT projects, the Bored Ape Yacht Club initially gained prominence during the early NFT wave. As one of the pioneering NFT projects to appeal to a mainstream audience, it serves as a barometer for the broader acceptance and popularity of NFTs.

During its peak, Yuga Labs, the startup behind the project, boasted a valuation exceeding $4 billion. The project’s success even led music icons Eminem and Snoop Dogg to perform a concert as their Bored Ape personas in the metaverse.

However, the NFT market experienced a downturn last year, causing floor prices across various projects, including the Bored Ape Yacht Club, to plummet. Despite the setback, the project faced its own share of controversies, notably involving fans reporting vision damage due to lighting at an in-person conference.

Recently, an Otherside project called “Apes Come Home” was launched as a playtest for a broader metaverse project. Excitingly, Bored Ape Yacht Club NFT holders were granted a sneak peek, enabling them to navigate as a 3D version of their NFT within a digital clubhouse for dancing and movement. However, critics highlighted the absence of chat functions, preventing NFT holders from communicating with each other within the project.

Nevertheless, fans remain optimistic, believing that the exclusivity of such spaces will foster innovation and novel virtual operations. What are your thoughts? Would you want to be a part of it?

Leave a Comment

Your email address will not be published. Required fields are marked *