- Yuga Labs, the creators of popular NFT
collections like BAYC, recently invited around 40 NFT owners and fans to experience their metaverse project, ‘Otherside’.
- Participants were able to control avatars based on their owned NFTs for the first time during this event.
- Yuga Labs plans to develop 10,000 characters from the Bored Ape Yacht Club collection into playable avatars within the metaverse.
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Yuga Labs, renowned for their NFT collections, recently hosted an event where participants could interact with their metaverse project, ‘Otherside’, using avatars based on their owned NFTs. The company plans to expand this feature to include 10,000 characters from the Bored Ape Yacht Club collection.
Immersive Experience in the Metaverse
At the event held in Los Angeles, attendees had the unique opportunity to manipulate avatars derived from their owned NFTs. This marked a significant milestone in the integration of NFTs into the metaverse, offering a more personalized and immersive experience. Yuga Labs has ambitious plans to extend this feature to include 10,000 characters from the Bored Ape Yacht Club collection, thereby providing a wide array of avatar options for users.
Exploring the Virtual World
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During the event, guests were also able to explore an island within the metaverse, accompanied by a guide. They could run, dance, and fly around a virtual playground, offering a glimpse into the potential of this digital world. The island, spanning approximately 2.4 square kilometers, is designed to function as a virtual clubhouse for the Bored Ape community, illustrating the potential of community spaces in Web3.
Commercial Use of NFTs
Yuga Labs grants NFT owners the rights to their digital art pieces and the ability to use them for commercial purposes. This has led to various applications of BAYC characters in the music industry and beyond. For instance, renowned music producer Timbaland established an entertainment platform themed around BAYC characters in 2021, demonstrating the commercial potential of NFTs.
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Yuga Labs’ event marks a significant step forward in the integration of NFTs into the metaverse. By allowing users to control avatars based on their owned NFTs, the company is enhancing the immersive experience within the digital world. With plans to expand this feature, Yuga Labs is paving the way for a more personalized and engaging metaverse experience.