Yuga Labs HT-MTL NFT is a hit; Earning over 5 million dollars in one day
- Yuga Lab’s latest NFTs can be used in future minigames.
- The company released Dookey Dash in January this year.
The recently launched HV-MTl (Heavy Metal) collection is the new hot item in the market as the collection tops the charts. The cluster is a set of 30,000 mechanized boxes. Eligible Sewer Pass NFT holders can “summon” these technology-powered boxes by burning their passes. They can also use the new set of Non Fungible Tokens (NFT) in upcoming mini-games from Yuga Labs.
Bored monkeys watching their Mechanized Bros?
According to CryptoSlam, a data aggregator, the HV-MTL NFT collection has amassed over $5 million in sales. Bored Ape Yacht Club (BAYC), another Yuga Labs NFT collection, surged nearly 105% in the last 24 hours. The company is currently working on “Otherside”, an upcoming metaverse game. “Otherdeeds,” the digital plots of land in the metaverse game, plunged nearly 24% in one day.
Yuga Labs released Dookey Dash in January which received a lot of attention worldwide. In popular culture since its release – Kyle Jackson, a YouTuber also known as Mongraal, who won a limited-time event and sold the NFT reward for $1.62 million. That NFT reward – Sewer Pass #21915 – instantly became the top-grossing token from the Sewer Pass collection. Also, the HV-MTL collection could give birth to another species (more likely a mechanized version) of Bored Apes.
A couple of weeks ago, the Bored Ape team shut down a limited-time event, Toad Mode, to look at the final results. To ensure fair play, those users who allegedly cheated while playing the game were eliminated from the scoring process. According to a Twitter thread, the scores will determine what kind of power sources they get.
All of these events can be connected to the Otherside metaverse. The game’s official release has not been announced yet, but it has been hinted that users may see the launch this year itself. They launched the “first tour” in July 2022 which attracted around 4,300 visitors. “The second trip” is planned for 25 March 2023.
The Metaverse sector is growing rapidly, and most of the popular games in this unique digital space have yet to become “mainstream”. Many confuse the metaverse as another game-to-earn (P2E) facilitator. Sure, P2E games are among the most popular parts of the virtual world, but the metaverse goes far beyond that.
CoinMarketCap data shows that the metaverse sector fell by around 5.1% in the last 24 hours. Currently, the sector has a market value of over $14 billion. ApeCoin (APE) remains the largest token in the space. MANA and SAND, native tokens in Decentraland and The Sandbox respectively, were down almost 1% in a day.
Metaverse has yet to reach many corners of the world given the inaccessibility of devices such as AR/VR headsets. Meanwhile, companies like Meta, Apple among others are doing their best to make this technology available to people.
Disclaimer
The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Anurag has been working as a founding writer for The Coin Republic since 2021. He likes to exercise his curiosity muscles and research deeply into a topic. Although he covers various aspects of the crypto industry, he is quite passionate about Web3, NFTs, Gaming and Metaverse, envisioning them as the future of the (digital) economy. A reader and writer at heart, he calls himself an “average guitar player” and a fun soccer player.
