Below is a high level overview to the Bored Ape NFT ecosystem.
After Yuga’s gargantuan $450M seed round at $4B valuation led by a16z, Animoca Brands, LionTree etc., last year, it has become clear that Yuga Labs has an ambitious plan ahead to expand their brand and IP. The APE token launch in March and Otherside beta release in April of last year marked a significant turning point in the PFP playbook. These developments brought about a paradigm shift in the metaverse, offering a massively multiplayer gaming experience that seamlessly integrates avatars from other NFT projects. By allowing players to embody any web3 persona, Otherside immerses them in a whole new level of interaction and experience that truly redefines what a ‘Metaverse’ can be. With its UGC capabilities, Otherside offers an unprecedented level of player agency in shaping the world they inhabit and the experiences they have within it.
With the successful conclusion of Dookey Dash, the Bored Apes community is now entering the next phase of their interactive storytelling journey, aptly named ‘Lick the Toad’ and ‘The Summoning.’ This is expected to bring more puzzles and riddles for participants to solve, unlocking further phases and extending the Bored Ape lore. The success of this approach by Yuga Labs is likely to set a new industry standard in interactive storytelling, with many other projects likely to follow their playbook. As Yuga Labs continues to expand and unlock more experiences for mainstream participants, existing Bored Ape holders will likely remain at the center of it all.
In an upcoming report on PFPs, we will dive deeper into potential ecosystems that we believe can rival the Bored Apes in the future. While the Bored Apes have undoubtedly set a high standard, other PFP ecosystems are emerging and could potentially challenge the Bored Ape’s dominance through various means.
Stay tuned for more.