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How to Buy Otherside Metaverse Land (BAYC)

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How to Buy Otherside Metaverse Land (BAYC)

Want to jump straight to the answer? You need ApeCoin to buy The Otherside Land, which you can get today on Gemini.

Historically, real estate has been a sound investment. You can either hold it as an investment or develop it to raise its value or generate passive income.

“Buy land, they’re not making it anymore,” Mark Twain is quoted as saying. That statement is quite true — at least in the physical realm. But with the advent of virtual reality (VR) and blockchain technology, that’s changing. Now you can travel to beyond our physical world and into the metaverse.

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The term metaverse was coined in 1992 by science fiction writer Neal Stephenson in his novel “Snow Crash.” Snow Crash was a three-dimensional virtual space where humans as avatars could interact with each other. But in 1992, you could only read about this virtual world in a novel. 

Fast forward to 2003, when the virtual world Second Life was released, and to 2006, when the ROBLOX game was released. These two events ushered in a new age — the start of an era in which humans can interact in virtual worlds.

These early virtual worlds were an excellent start but lacked an essential element — the ability to have actual ownership of in-game purchased digital items, especially land. But thanks to blockchain technology and NFTs, the ability to buy virtual real estate has become a reality. 

There are numerous metaverse platforms available today. Among the most popular are Decentraland and The Sandbox. A new entrant into the metaverse platform field should be launched any day. This new platform will be based on the phenomenally successful Bored Ape Yacht Club (BAYC) NFT series.

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It’s no secret that Yuga Labs, the company that created BAYC, has been highly successful. It followed up its BAYC success with two additional releases — Bored Ape Kennel Club (BAKC) and Mutant Ape Yacht Club (MAYC) — that have had considerable success. And now, Yuga Labs has produced a trailer promoting the impending release of Otherside, a metaverse platform and MetaRPG (role-playing game). It’s a reasonably safe assumption that the upcoming Otherside land sale may prove very successful as well. See you on the Otherside!

Few details are available, but based on the trailer, the Otherside appears to be a multi-land metaverse. There seems to be a lava landscape, an ice landscape, a crystal landscape, a sand scene, a purple mystic landscape and a unique earth-like landscape. Yuga Labs partnered with Animoca Brands to build the Otherside metaverse. Animoca is also the developer of The Sandbox and several other blockchain-based games.

To stay up-to-date with everything regarding Otherside land, be sure to follow OthersideMeta on Twitter.

Brief History of The Otherside Metaverse

Even though the initial sale for the Otherside metaverse is on April 30th, 2022, these NFTs are actually “Otherdeeds.” This leads us to believe the actual land won’t be playable on release, and that there will likely be a land reveal later down the line. Aside from appearing to be a multi-land metaverse, an element hinted at in the trailer, the Otherside will support different NFTs. A submarine arrives near the end of the trailer, carrying the following NFTs: a Cryptopunk, Cryptoads, Mutant Ape Yacht Club, Meebits, World of Women and Cool Cats. The additional NFTs hint at interoperability.

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Yuga Labs introduced ApeCoin about a month ago, which will power the Otherside metaverse. Another in a long series of rewards was a big airdrop of ApeCoins to BAYC owners. The maximum and total supply are both set at 1 billion, with a current circulating supply of 277.5 million. Despite only being launched a few weeks ago, ApeCoin is already ranked in the top 30 cryptocurrencies by market capitalization.

Yuga Labs is also now attracting major investors. Andreessen Horowitz led a recent $450 million round of funding, along with Animoca Brands, FTX, Google and MoonPay. 

It’s still unknown what the perks of holding Otherside land may be. Holding Yuga Labs NFTs has proven lucrative in the past, so it is not hard to imagine that owning Otherside land will also come with valuable perks. 

Being a part of the Yuga Labs empire means that owning Otherside land comes with a lot of social capital. It has also been reported that the land itself will hold valuable items, from natural resources to rare artifacts and possibly even a Koda.

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What is a Koda? It could be the alien-looking being touring the Otherside with the Bored Ape. It’s rumored Kodas will be assigned to 10% of The Otherside land plots, and buyers who receive them may be able to sell this NFT separately.

How to Buy The Otherside Metaverse Land

Details on how to buy Otherside land are also limited. A new website, https://somethingisbrewing.xyz/ was used to verify consumers’ identities to be eligible for mint. If you missed this, your only option is to purchase the land on OpenSea after the release on April 30th. To use OpenSea, you’ll need a software wallet like Metamask and crypto to fund your wallet with. For more information on buying NFTs, checkout our in-depth guide.

However, a leaked BAYC investor roadmap shows two land sales. The first was slated for March, but was rescheduled for sometime in April. Then a second land sale is expected sometime in August.

        Image Credit: Yuga Labs

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Step 1: Open an online account.

1 Minute Review

Gemini is a cryptocurrency exchange and custodian that offers investors access to over 100 coins and tokens. Founded in the US, Gemini is expanding globally, in particular into Europe and Asia. Offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x.

Gemini is 1 of the only brokers with multiple platform options based on skill level. New investors will love the streamlined interface of Gemini’s mobile and web apps, while advanced investors might appreciate all the tools that come with ActiveTrader. 

In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft. Learn more about what Gemini can do for you in our review.

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Best For

  • New investors looking for a simple mobile and web app
  • Day traders looking to use technical analysis tools
  • Users looking for a 1-stop-shop to buy, sell and store all of their cryptos

Pros

  • Easy and quick signups — can get started in as little as a 5 minutes
  • Multitude of platforms to accommodate traders of all skill levels
  • Hot wallets include insurance to protect your from theft and hacking attempts

Cons

  • Charges both a commission and a convenience fee for users buying and selling through the desktop or mobile app

To purchase Otherside land, you will need ApeCoin (CRYPTO: APE). If you don’t already have an account with a cryptocurrency exchange, you’ll need to create one. Coinbase, Gemini and Crypto.com are great exchanges with easy-to-use trading platforms. Note that secondary sales may occur in Ether, so you may need to invest in Ethereum if you’re not minting Otherdeeds.

All three exchanges make it relatively simple to register an account. To pass KYC, follow the instructions and input the relevant information. Following that, you must link a bank account or debit card.

Step 2: Buy or download a wallet. 

Now that you’ve opened an account, you’ll need a good wallet. The wallet must be able to connect to the BAYC website or OpenSea to facilitate purchases. Avoid storing huge amounts of cryptocurrency or NFTs on exchanges. Keeping huge quantities of crypto on exchanges puts you at risk of loss because of an exchange hack.

Best Software Wallet: MetaMask

MetaMask is one of the best software wallets around. It’s available as a browser extension and a mobile app and is easy to download and set up.

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Go to the MetaMask website, click on “Download,” and select your browser. Then click install and follow the on-screen instructions. Avoid storing significant amounts of crypto or NFTs in MetaMask because it is a hot storage wallet. You should buy a cold storage wallet like the Ledger described below for long-term storage.

Best Hardware Wallet: Ledger

buy now securely through Ledger Hardware Wallet’s website

1 Minute Review

Launched in 2014, Ledger has transformed into a fast-paced, growing company developing infrastructure and security solutions for cryptocurrencies as well as blockchain applications for companies and individuals. Born in Paris, the company has since expanded to more than 130 employees in France and San Francisco.

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With 1,500,000 Ledger wallets already sold in 165 countries, the company aims at securing the new disruptive class of crypto assets. Ledger has developed a distinctive operating system called BOLOS, which it integrates to a secure chip for its line of wallets. So far, Ledger takes pride in being the only market player to provide this technology.

Best For

  • ERC-20 tokens
  • All experience levels

Pros

  • Easy to set up and use
  • Supports more than 1,500 different digital assets
  • Tamper proof
  • Portable
  • Long-lasting battery
  • Bluetooth connectivity features

One of the best hardware wallets on the market is Ledger, which offers two models: the Nano S and the Nano X. The Nano S is cheaper; however, it does not hold as many apps as the Nano X. The Nano X also has Bluetooth capabilities, allowing it to be used with the Ledger Live mobile software. Using either Nano model in conjunction with Ledger Live provides complete control over your digital assets.

For security, both wallets rely on an industry-leading secure element chip. The secure element chip is the same as the one used in credit cards and passports. It offers the highest level of security available for a chip. Regardless of the Ledger model you choose, you can be confident that your crypto assets are well protected.

Before buying land, you must first send your APE to your MetaMask wallet. You need your ETH public address from your MetaMask wallet to complete the transfer. The address is located near the top of the MetaMask pop-up window.

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Next, go to your exchange, look for your APE, and click “Withdraw.” Typically, a transfer pop-up window or a transfer page will open. Then, copy the ETH address from your MetaMask wallet and paste it into the “Send to address” field on your exchange’s transfer window or page.

It is a good idea to double or triple-check your ETH address before making the transfer. At the very least, double-check the first and final four characters. Even if you are copying the address, this is recommended. After all, if you make a mistake, there is no way to recover your crypto. ApeCoin uses an ETH address, as it’s an Ethereum-based cryptocurrency.

Another word of advice is to pay close attention to the transfer or gas fees. These can be pretty high, especially when the network is busy. If you’re minting the collection, be sure to have a few hundred dollars in ETH set aside for these fees. Depending on network traffic, it should only take five to 10 minutes for the transfer to be confirmed.

Step 4: Make your purchase.

The process of purchasing from the BAYC website so far is not clear. Although, typically, you would first connect your MetaMask wallet. It’s possible that you may be able to choose which type of land you want to purchase. Then there should be a “Mint” button to click on and then sign the transaction in your MetaMask wallet. 

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Bonus section: While most NFTs are sold in ETH, The Otherside land sale will be in ApeCoin (CRYPTO: APE). Stay tuned for an announcement from Yuga Labs to know whether you’ll need ETH or APE to purchase this metaverse land.

Current Crypto Prices

The overall crypto market still seems to be in a bearish to neutral state. Bitcoin (CRYPTO: BTC) has been ranging from the upper $30,000 level to the upper $40,000 level for about two months. The overall crypto market still follows Bitcoin’s lead.

Purchasing land on The Otherside is a highly speculative venture. However, based on Yuga Labs’ previous performance, there should be a significant amount of built-in value. The BAYC community is well known for its exclusivity ands valuable perks. 

The same may be true for Otherside land owners; however, a lot will depend on what perks land ownership comes with. This could be an opportunity for those priced out of the BAYC and MAYC to become a part of the Yuga Labs ecosystem.

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analysis group

Report: The Metaverse Might Contribute $320 Billion To Latam’s GDP In The Next 10 Years

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Report: The Metaverse Might Contribute $320 Billion To Latam’s GDP In The Next 10 Years

A new report indicates that the metaverse might be a significant factor in the growth of economies in Latam and the world in the coming decade. The study, issued by Analysis Group, estimates that Latam might benefit from a surge of $320 billion or an approximate 5% of its GDP, in the next 10 years. This is the biggest percentage share of GDP of the regions in the study’s projection.

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Analysis Group’s Metaverse Report

The metaverse is becoming a subject of intense focus in crypto and business at large, and many companies are already projecting the impact that it might have in several countries and areas in the future. In a recent report titled “The Potential Global Economic Impact of the Metaverse” issued by international economic consulting firm Analysis Group, the opportunities that the emergence of the metaverse could open in the next ten years are examined, assuming “adoption begins in 2022.”.

In the document, the researchers compare the rise of the metaverse with mobile technologies and examine the growth as if this new technology were to evolve in a similar way. This industry was selected “because of similarities to the metaverse in the way it combined existing and nascent innovations to fundamentally alter global technological and economic landscapes.”

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Major Latam Growth and GDP Estimates

According to the report, the metaverse and its related activities have the potential of representing 5% of the GDP of Latam in the tenth year after adoption begins (2022), contributing $320 billion to the economies of the area. The report also projects that the growth in Latam will be the biggest percentage-wise, while the APAC region would have the biggest growth volume-wise, representing more than $1 trillion of its GDP.

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Globally, the study estimates that the metaverse will generate $3.01 trillion, becoming more than 2% of the GDP of the world ten years from now. Per the report, this growth will only happen if the sector reaches its expected potential, having “far-reaching applications, with the potential to transform a wide range of economic sectors such as education, health care, manufacturing, job training, communications, entertainment, and retail.”

Other companies have also predicted the possible impact of this new activity and the economic opportunity it will present for different industries in the future. Grayscale, one of the leading cryptocurrency asset managers, estimated that the metaverse might become a $1 trillion business opportunity in the future. Goldman Sachs also predicts the metaverse will be an $8 trillion opportunity. JPMorgan has stated that this $1 trillion market “will likely infiltrate every sector.”

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What do you think about Analysis Group’s metaverse report? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Ariva

Ariva Celebrates 1st Year Anniversary With Impressive Achievements In The Blockchain Industry

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Ariva Celebrates 1st Year Anniversary With Impressive Achievements In The Blockchain Industry

press release

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PRESS RELEASE. Ariva, a next-generation tourism & travel blockchain protocol, celebrated the first anniversary of its launch on May 25, 2022. This development marks an impressive milestone for the blockchain project that has taken the tourism sector by storm in recent months.

Ariva launches reward program to celebrate 1st anniversary

Ariva has announced a giveaway campaign to celebrate the first birthday that will reward users with different prizes. This includes a limited collection of its Arivaman NFT to 6 winners, $30 million ARV tokens to 30 participants and $6k BUSD to six winners.

Ariva has further revealed that participants will have to complete a series of events, including following Ariva on different social networks, voting on Coinmarketcap and filling out a reward form with their BSC address.

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Undoubtedly, one of Ariva’s most important birthday week events will be the launch of the alpha test of the Ariva Wonderland Metaverse project. In a surprise, the team announced that the test will be conducted in an open alpha test format and that a limited number of gamers from the committee will be selected for this unique experience.

Major achievements accomplished in 12 months

Ariva has achieved some noteworthy achievements since its launch due to its impressive concept and innovative products. It has an active community of more than 200,000 members on social media and is featured in 100+ tabloids globally.

Ariva has also enjoyed significant adoption of its token ARV with more than 220,000 holders. ARV has also been listed on 32+ exchanges and 10+ wallets showing the rapid growth of the utility token.

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Ariva has also hosted several events to foster the development and adoption of blockchain technology in the tourism industry. In recent months, it has also embarked on high profile partnerships with the World Tourism Forum Institute and Global Tourism Forum.

Ariva’s partner, the president of WTFi Bulut Bagci was also a keynote speaker at the FIS Dubai event in May 2022. Furthermore, Ariva has been able to embark on policy building with members of the European Parliament on how it can revolutionize the travel and tourism industry with blockchain technology.

A complete blockchain-based tourism ecosystem

As promised, the team also launched the Ariva.World crypto travel portal and Ariva.Finance payment gateway before his birthday. They also stated that the distribution of Ariva Pos Machines to hotels and travel agencies will begin in a short time.

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Merchants can also deploy Ariva.finance APIs on their stores to integrate crypto payment systems. Furthermore Ariva.Finance has been deployed into the first batch of Ariva POS machines that hotels and tourist centres have adopted. Ariva.World is a decentralized hub that enables tourists to connect with local and global tourism service providers.

Ariva recently launched Ariva Wonderland, a metaverse project that aims to introduce tourists to a world with limitless travel experiences.

More developments expected in the future

The Ariva team is not resting on their laurels and has partnered with Global Tourism Forum ahead of its leader’s summit set to take place in Washington DC on 24th June. It has also revealed plans to extend more features for the Ariva Wonderland metaverse and list ARV on more exchanges in the coming months.

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To learn by visiting the website https://ariva.digital/


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Argentinian Cryptocurrency Exchange Buenbit Announces Staff Layoffs

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Argentinian Cryptocurrency Exchange Buenbit Announces Staff Layoffs

Buenbit, an Argentinian cryptocurrency exchange, has announced a series of layoffs due to the downturn that traditional and crypto markets are currently facing. Buenbit’s co-founder and CEO, Federico Ogue, clarified that this move had nothing to do with the recent Terra ecosystem disaster and that from now on, the exchange would focus on keeping operations in countries where it already has an established presence.

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Buenbit Announces Layoffs

Buenbit, an Argentinian cryptocurrency exchange, has announced a change in its hiring strategy due to the recent downturn that the cryptocurrency and stock markets are facing. According to some reports, the company will be laying off almost half of its current workforce across the three countries where it operates, including some senior executives.

Federico Ogue, co-founder and CEO of the exchange, stated on social media that these changes were the consequence of the tech industry facing a review phase. Ogue stated:

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Given this new context, we decided to reduce our staff and pause our expansion plan to focus exclusively on operations in the countries where we are present today and maintain a self-sustaining and efficient structure.

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Furthermore, Ogue revealed that this move had nothing to do with the recent collapse of the Terra ecosystem, even though the exchange did offer Terra-related services as part of its investment portfolio. “It is a decision that we have been working on for months. It is an adjustment that is taking place throughout the startup industry,” he explained.

Expansion Plans Halted

This new strategy ends the expansion plans the company had revealed during its Series A financing round, which raised $11 million for this goal in July 2021. The company announced that its focus will be to maintain the same quality of operations in countries where it is already present.

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The company stated this was a proactive response to an upcoming problem, “in order to avoid, in the near future, the unnecessary exposure of the company to the dependence of raising a next round of investment, when the market numbers indicate that this is not the correct strategy to follow in the current context.”

Other exchanges have also announced changes in their hiring strategies due to the new direction of the global economic markets. Coinbase, a U.S.-based cryptocurrency exchange, recently noted it would slow down its hiring process to be in a better position during and after the current market downturn.

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What do you think about the layoffs announced by Buenbit? Tell us in the comments section below.

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Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Advertisement

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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