Otherside Metaverse Launch Questioned

70 🍉 Otherside Metaverse, Bancor V3, ENS Domain names, DaySlice solopreneurs.

• Otherside Metaverse Launch

• ICYMI: Bancor V3

• NEWS: ENS Domain Names + Wikipedia stops accepting Crypto

• Wednesday 5/4: A Conversation With ToyBoogers

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Otherside Launch

The highly anticipated Otherside Metaverse from Yuga Labs launched this weekend, creating all sorts of controversy around how the blockchain contract was established and released. The Ethereum network crashed and gas fees (the cost of transacting on Ethereum) rose astronomically to the tune of thousands of dollars causing users to lose their money on failed transactions. Yet, in the first 24 hours, Yuga Labs has generated over $561 million in “Otherdeed’s” NFT sales and hinted they may be launching their own chain. Was it a success or disaster? Depends who and what you ask:

First, from the Yuga Labs team:

Yuga Labs @yugalabs

We wanted to say a few words about the mint tonight. 🧵

And a thread from Garga, one of the Yuga founders:

Garga.eth @CryptoGarga

Needless to say tonight didn't go how anyone wanted it to. I want to say sorry to the apes, and to everyone else who eagerly looked to join into the project. It’s especially a sour moment since Otherside has been a passion project for so long.🧵

While prominent and respected blockchain builders shared views of a poorly handled and carelessly crafted drop:

Satvik Sethi @sxtvik

The way the drop was handled by Yuga Labs today was selfish and careless. The FOMO the team induced for this drop wiped out over $100M in liquidity from the market. This will no doubt hurt many smaller projects and thousands of artists who already struggle to stay afloat in Web3.

Our Take: Yuga Labs has been the gold standard in business and investing over the past year with everything they’ve created/touched appreciating massively.

Michael Rippe @MichaelRippe

Great thread from @yugalabs showcasing the thought/creation and plan for the Bored Apes. 2021 was forever the year of the Ape and business classes will be sharing the come up for future generations to study. Wildly impressive. #BAYC

Yuga Labs @yugalabs

A little a bit about us to start off the new year and what's coming. 🧵 1. What's the inspiration behind the name Yuga Labs? We're nerds, and Yuga is the name of a villain in Zelda whose ability is that he can turn himself and others into 2D art. Made sense for an NFT company.

The “Otherside” drop is the first time the company left themselves open to legitimate questioning and criticism, even from Bored Ape holders with regards to the execution. Even with an opportunity to question execution of the drop, the brand has shown their considerable dominance and potential with a massive influx of money and ecosystem expansion.

The question we are left with: Was it a carefully crafted plan in the short-term to execute a much larger long-term vision, i.e. creation of an exclusive Ape chain? Let us know in the comments.

In Case You Missed It

Bancor V3

Bancor Network is known as the original Decentralized Exchange and Protocol. Uniswap gets the credit, but it all started with Bancor. Late last year, the Bancor team began announcing version 3. Finally, this last week, the team rolled out V3 beta, with plans to fully launch V3 later this month. This is a massive accomplishment in DeFi, and V3 promises many great features, including immediate Impermanent Loss Protection on your staked tokens, up to 80% less in transaction fees and auto-compounding rewards, just to name a few. Here’s a great comprehensive thread about Bancor V3:

Aylo @alpha_pls

Bancor V3 might be a great next step for DeFi. Bancor has divided opinion over the years, but give me a chance, anon. @Bancor V3 🧵

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Ethereum domain names fueling latest NFT craze —Here’s Why

Key Takeaway: "In the past week, Ethereum domain name sales on OpenSea are up nearly 2,300%” (source: Kate Irwin)

Beeple: Next era of NFTs to focus on ‘Emotional Connection and Utility'

Key Takeaway: “It’s a sort of blend of the digital and physical world that I think you’re going to see a lot more of moving forward.” (source: Beeple)

Wikipedia to stop accepting crypto donations on environmental & other grounds

Key Takeaway: Change follows vote by Wikimedia community with 71.2% voting in favor of a proposal to stop accepting cryptocurrency.

Molly White @molly0xFFF

The Wikimedia Foundation has decided to stop accepting cryptocurrency donations. The decision was made based on a community request that the WMF no longer accept crypto donations, which came out of a three-month-long discussion that wrapped up earlier this month.

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A Conversation With 🎙 Web3 Radio

“A Conversation With” the podcast is on Apple iTunes & Spotify and growing weekly. Listen now to prominent guests share their web3 journeys and ideas empowering you to invest early.

investrly @investrly

.@tobylasso provides amazing resources empowering you to learn more about #NFTs. Subscribe to listen to the full podcast coming tomorrow: investrly.substack.com

In Episode 21 of “A Conversation With” podcast, we welcomed Toby Lasso, an NFT investor, project manager, and all around educator.

A Conversation With Live…

📆 Wednesday, 5/4 @ 7PM ET: Toy Boogers

This Wednesday, we welcome Toy Boogers, an NFT brand with several collections, a web3 community, and a developing universe with an animated series deal in development with TIME Studios. Join us this Wednesday to hear directly from them on A Conversation With!

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investrly is written weekly by Founder Michael Rippe, with edits and design by Chief Strategist Danny Bopp. Thank you for reading. Share this newsletter with a friend or colleague by slapping the button below and help us continue growing!