Thread by @0xPrismatic

Seeing some folks out there tout that Otherside Land will have a 10 - 15E floor. I think we should have realistic expectations of price once the initial hype dies down..

#notfinancialadvice

Yuga Labs has shown themselves to be excellent at brand building and biz dev, but building a metaverse requires a whole different level of execution capabilities. It's a very tough path to climb.

Companies like the Sandbox have been grinding away at it for years. Yuga is the new player here and has a lot to prove.

Doing valuation calculations of lands based on other metaverses like @TheSandboxGame is probably not the right mental model at this stage

Rather, I think about what someone would pay to be part of the BAYC ecosystem and do relative comparisons.

Mutant apes are at 40E each and get lots of love from Yuga labs in terms of airdrops and free value

It might be too much hopium to believe that Otherside land to sustain a 10 - 15E floor in the short term. There's a huge supply difference:

- MAYC 20k fixed supply
- Otherside land 100k now, 200k later this year, maybe more in the future

For someone who has funds, it would seem better to own a MAYC than 4 Otherside lands (if lands were to go to 10E).

Alternatively, this would imply that MAYC is undervalued and should be at ~60 - 80E (intuitively, no math formula here)

If Otherside lands stay at >10E, it goes counter to the thesis that the demand for lands comes from being a cheaper entry point for people who want into BAYC ecosystem.

Kennel Club is around 9 - 10E.

I think a significant portion of the price right now (7 ETH) includes the expected value of getting a rare land.

So there's probably going to be a post-reveal dip (as with most collections) and I would be watching that carefully. Reveal is set to occur within 24 hours.