Web3 Watch: Yuga Labs demos ‘Otherside’ metaverse, users left with mixed feelings

Plus, Telegram pledges to share ad revenue and dog-related coins see renewed interest

article-image

Yuga Labs and Adobe Stock modified by Blockworks

share

Yuga Labs did a test of its Bored Apes-themed Otherside Metaverse for a handful of NFT holders this week.

The metaverse is designed for players to “decide their fun,” meaning that there is little guidance and players themselves must control their own experiences. Following the launch, users left with mixed reviews of their metaverse escapade. 

It is important to note that the Otherside Metaverse is not a “finished product being launched,” meaning the project is still a work in progress.

Read more: The investor’s guide to the metaverse

The point was made in a review by a user that goes by the pseudonym white-house.eth. They said in an X post that their experience in Otherside felt more like a proof of concept than tens of millions of dollars and two years of work. 

Loading Tweet..

Another player that goes by the pseudonym jpegflippa said they were “underwhelmed” by their experience.

Loading Tweet..

Despite this, a user by the name of ThePilot.x on X, wrote that the experience had exceeded his expectations.

“Every single part of the APES COME HOME experience was SO much better than I was expecting,” ThePilot.x wrote. “Both my kids played too, one who usually only plays Fortnite, and one who usually only plays Roblox, and they LOVED IT.”

The user added that they were blown away by the graphics and small details in the game, which made the overall experience “ethereal.”

The launch of Otherside Metaverse comes just a week following an exec shakeup at Yuga Labs, where Greg Solano replaced former Activision exec Daniel Alegra as CEO of the company. 

Read More: Web3 Watch: Yuga Labs’ tumultuous week

Despite mixed reviews and internal politics, the floor price for Apes spiked this week and is currently sitting at 21.99 ETH (approximately $74,449).

Telegram gears up for crypto revenue sharing

Telegram CEO Pavel Durov has revealed that channel owners on Telegram can now start receiving financial rewards for their work.

“In March, the Telegram Ad Platform will officially open to all advertisers in nearly a hundred new countries. Channel owners in these countries will start receiving 50% of any revenue that Telegram makes from displaying ads in their channels,” Durov wrote.

Durov added that they will be exclusively using the TON blockchain to ensure ad payments and withdrawals are “fast and secure.”

Following this announcement, the price of toncoin, TON blockchain’s native token, has increased by almost 30%. It is currently trading at $2.70.

One interesting stat:

  • Dog-themed coins saw their market capitalization jump 30% to over $30 billion on Wednesday, according to CoinGecko.

Also of note:

  • The NFT card game Parallel entered Open Beta.
  • Solana game MixMob received stormtrooper license.
  • VanEck released NFT marketplace “SegMint GmbH.”

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (6).png

Research

In recent months, a number of highly accretive developments were implemented across the protocol to improve fee capture, expand product functionality, and ultimately drive value accrual to the RUNE token, with more upgrades on the immediate horizon. These developments include hiking the minimum swap fee parameter to increase revenue, adding a Burn System Income Lever to reduce the RUNE supply, the addition of COSM-WASM smart contracting and IBC to enable an application layer, new chain integrations, and more.

article-image

Former IRS agent and Binance executive Tigran Gambaryan will remain imprisoned in Nigeria’s Kuje prison

article-image

When Permissionless III wraps on Friday, there will be 26 days left until the 2024 presidential election

article-image

Plus, an update from the ground in Salt Lake City at Permissionless III

article-image

The US regulator accused the crypto market-making firm of acting as an unregistered dealer

article-image

Customers can pay merchants in USDC or USDP on Ethereum, Solana, and Polygon, while US-based merchants are paid in dollars