NFT Mogul bets on Yuga Labs Otherdeeds metaverse with a shopping spree of well over $2 million.
Yuga labs Otherdeeds metaverse surging sales volumes last week, causing it to flip other prominent non-fungible token (NFT) collections in the process. Upon its launch, the virtual real estate NFT caused the demand for Ethereum Name Service(ENS) domains to increase while disrupting the Ethereum Network.
Otherdeed Activity Metrics. Source: Cryptoslam.io
According to Cryptoslam.io, the sales volume of the Otherdeed collection surged by over 400% on Thursday last week. Consequently, it was able to temporarily flip more illustrious collections like the Bored Ape Yacht club (BAYC) and crypto punks along the way.
NFT Collection Rankings by Sales Volume (24 hours). Source: Cryptoslam.io
Although briefly, the Otheredeed collection assumed the top rank among NFT collections with the hights 24-hour sales volume. The ENS, which has benefitted immensely from creating the Otherside metaverse, also ranked second, with sales volume spiking by almost 50%. The BAYC, also from the Yuga Labs, ranked fourth, while Immutaswap.io ranked third.
NFT Collection Rankings by Sales Volume (7 days). Source: Cryptoslam.io
However, over the past seven days, Otherdeeds performance has seen it rank third. y00ts mint t00b takes the first position while the BAYC collection comes in second.
NFT Collection Rankings by Sales Volume (30 days). Source: Cryptoslam.io
Meanwhile, the BAYC collection comes in first for sales volume across the previous thirty days. Sorare takes the second position, with Otherdeeds coming third. Mutant Ape Yacht Club (MAYC), another collection from Yuga Labs, sits fourth as the famous CryptoPunks collection rounds out the top five.
NFT Mogul Vis.Eth Bets On Otherdeeds and Yuga Labs
The spike in the sales volume of the Otherdeeds collection is closely linked with the recent shopping spree Vis.Eth went on. The NFT mogul, a member of the BAYC, made a splash by initially purchasing six high-end Otherdeeds on Thursday last week for 584 ETH ($958,800).
Following his initial purchase, Vis.Eth bought four more Otherdeeds worth 851 Eth ($1,395,000). This brought his total purchase worth over $2.3 million to ten. Interestingly, his buys are located centrally on the Otherside’s centre island, giving credence that location matters in Real estate, even in the virtual world.
Shortly after his shopping spree, Vis.Eth took to Twitter to explain his purchase. He revealed that he was bullish on otherdeeds and the Yuga labs team behind it. He further said he was betting on the team’s experience to ensure the gaming platform’s success.
Before that, Vis.Eth reiterated his excitement over his purchase to the BAYC community via the recently launched Bored Ape gazette. He highlighted that the Otherside metaverse presented a new world which he was ecstatic for. Also, he said he felt the prices for the centre islands were reasonable enough, so he added them to his long-term investment holdings. He said,
“The price for the centre island is reasonable at this moment, so I have add some to collection. It’s a long-time investment, not advic. Social Verse, I mean the Otherside metaverse, it’s not only a game, that’s a new world, web3 world. That’s my dream. I’m happy that Yuga make it happen.”
For Vis.Eth, making significant purchases is nothing new. As previously reported by the Bored Ape Gazette, Vis.Eth earlier this year spent 4500 Eth, or $9,000,000, on Otherdeeds. Additionally, last month, he also paid 777 Eth, or $1.5 million, for a gold-furred ape.
Do you think Vis.Eth’s faith in Yuga Labs and the Otherside metaverse is justified? Let us know your thoughts in the comments below.
Chris is a crypto enthusiast and a firm believer in the blockchain’s ability to create a new financial paradigm. Through writing, Chris hopes to expose the intricacies of this disruptive technology and how it is beneficial to Africans and developing countries. He aims to give readers a rational and unbiased outlook of the industry by equipping them with the necessary information to make enlightened investment decisions.
