Grammy-winning producer Timbaland just announced his support to Yuga Lab’s MMORPG metaverse called “Otherside”. In his tweet, he said: “Excited to announce my investment in @yugalabs, the #Web3 company behind the biggest #NFT brands in the world in @BoredApeYC, @cryptopunks, and more.”
“As entire industries evolve to the early stages of the #Metaverse, decentralized ownership & a new world of digital art, we will continue to lead the way toward full artistic and music creator independence”, Timbaland added.
About Timbaland
Aside from being a producer, Timbaland is also the founder of the Beatclub. The platform is a marketplace that connects the music creator community with record labels, music publishers, film & tv, brands, content creators, and independent artists. Among the club’s members are J Cole, Tainy, and Justin Timberlake.
With his investment in Yuga Labs and interest in its upcoming metaverse, does this mean we’ll be having Beatclub’s artists on the “Otherside”? Will we see their works as NFTs? We are yet to find out.
Increasing Investments and Collaborations with Yuga Labs Recently
Just recently, Yuga released Apecoin and acquired CryptoPunks and Meebits. Due to that, the company has been in the NFT space spotlight for a while. The hype is only fueled by their “Otherside” video teaser on Twitter. This caused many NFT projects to announce their partnership with the Bored Ape Yacht Club developers.
Last week, nWayPlay said they are in a collaboration with BAYC. The decentralized marketplace will incorporate ApeCoin in their new play-to-earn game. Animoca Brands also released an announcement on March 17 that their P2E game incorporates ApeCoin.
Ultimately, Yuga Labs raised $450 million in funding yesterday. The NFT developers are now at a $4 Billion valuation! The co-founders said they will use the money to create their own NFT empire. In addition, they said their Web3 space “Otherside” will be a world where NFT projects can collaborate.
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This article is educational material.
As always, make your own research prior to making any kind of investment.
