Greg Solano, the co-founder of the NFT project Yuga Labs, revealed recently that the launch of the persistent world for the Otherside metaverse is set to take place in 2023.
The Persistent World is a term used for a virtual world that is designed to develop itself internally without the participation or involvement of a user.
Launch of Persistent World in 2023
In an interview with the individual behind CryptoPunk #6529, which was published on YouTube, Greg revealed that users will commence using the Otherside metaverse in 2023.
The metaverse will still be under development over time. The co-founder, however, noted that users will continue to use the interface while it is being developed.
“Unlike a lot of different games where you get a trailer and then four years later, you get the game, [the development of Otherside is] something that needs to be done in an iterative way where people can join, experience things along the way, and give feedback, and properly influence the creation of the platform itself,” he said.
What is the Otherside Metaverse?
The Otherside metaverse is a virtual world that bolsters online gaming. It was built by Yuga Labs, after raising $450 million in a funding round in March. Its creators intend to unite users across several NFT projects, including its native NFT collection, Bored Ape Yacht Club (BAYC).
In May, Coinfomania reported that the team behind the project raised $300 million from the initial sale of an NFT collection called Otherdeed, which is tied to the Otherside metaverse. Owning Otherdeed NFTs gives users the ability to claim land parcels in the metaverse.
At the time of the sale, the Otherdeed NFTs were bought using the project’s native token, ApeCoin.
SEC Probes BAYC Over Unregistered Offerings
Earlier this month, it was revealed that the United States Securities and Exchange Commission (SEC) is investigating Yuga Labs over matters concerning its digital assets, such as ApeCoin and certain NFTs.
However, the alleged probe does not indicate that the project will be sued or fined by the regulatory agency.
