Otherside Proposal

It is proposed that we take a modest investment position in Otherside by purchasing $20-$30K worth of high resource yielding deeds.

The governors have spent quite some time reviewing all we can find about Otherside (as have Fat Cats) although for different reasons. Otherside for Fat Cats presents an opportunity for an Embassy at the heart of the Swap which can be used to strengthen the Fat Cats brand as metaverse platforms are going to be the Web3 public square (akin to how Twitter is currently the Web2 public square for Crypto & NFTs).

We have always stated that we would heavily focus on tier one play to earn games instead of Metaverse platforms due to the fact that the global gamer player base is much more well established and therefore likely easier to onboard. That said we noted that social platforms like Minecraft & Robolox have indeed shown that social platforms who also prioritize tons of mini games ,and not just a do whatever you like approach like Second Life, have done very well.

Otherside is likely the first Metaverse to blur our definitions of Play to earn game and Metaverse because they have heavily gamified the land and have created a resource/mining based economy most akin to Illuvium Zero. in other words in Otherside resources mined from the land will be sold in Agoras (markets) and used to create buildings and the like. A lot more information has been made available here: https://otherside.xyz/

In addition to that the creators are Yuga Labs, the creators of Bored Ape Yacht Club who are undeniably the market leader in NFTs who have so far always delivered value to their holders. In addition to raising north of $300 million to build said Metaverse (which they appear to be doing at an extremely fast pace with the first demo scheduled for the end of July) have the respect of all the strong and active NFT communities; most of which have purchased land for embassies or the like. This is important as mass adoption will be critical and most of these same communities have told me they are terribly unimpressed with the Sandbox & NFT Worlds and so are awaiting a much higher graphic fidelity platform. Otherside is being built on Unreal Engine.

Lastly it should be noted that Fat Cats & Crown can work closely together here as Fat Cats has purchased a rare property very close to the central hub, the actual Bored Ape Yacht Club (image attached to the Discord post). Fat Cats location will allow us to create important synergies such as portals to each others land so that we can get our resources to the most important hub, branding benefits and so on.

Many in this DAO have expressed the desire for us to invest in at least one Metaverse platform in order to have a well diversified portfolio and to hedge our bets. I can think of no other Metaverse that comes close to our general investment standards: a proven team, a substantial war chest to keep building, beautiful graphics that can appeal to regular gamers and players of Second Life & Robolox, a high chance of success due to being a market leader and thus able to attract a large player base of NFT natives and a clearly conscious decision to heavily gamify their land not just with mini games like Sandbox but with a full resource based economy akin to Illuvium & Mirandus.