The new Bored Ape Yacht Club metaverse mint, ‘The Otherside,’ is just days away, and the chatter is palpable. While it’s on the heels of the highly anticipated Ragnarok Meta – currently the top traded NFT project in OpenSea over the past day – there’s plenty of excitement to go around regarding the Bored Ape metaverse play.
Meanwhile, a new report from a bevy of federal bodies across the globe says that money laundering and fraud via NFTs is a pain point that needs to be addressed in the space.
The Nightly Mint
Latest Mint: Otherside Hype
Headed to mint this weekend is ‘The Otherside,’ and the speculation alone can pull you into a dozen different directions into how things could play out.
The key points you need to know? Yuga Labs, owners of arguably the three biggest NFT projects on the market, are releasing land plots around the BAYC project – and Yuga has the desire to build an NFT media empire; this could likely be the first step in that attempt. The Otherside drops on Saturday and will cost roughly 605 APE per plot.
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The new BAYC 'Otherside' property will be available for purchase solely via the APE token. | Source: APE-USD on TradingView.com
New Report Regarding Fraud & Laundering
A new report from the IRS released today highlights a release from the Joint Chiefs of Global Tax Enforcement (or J5) and is titled “J5 NFT Marketplace Red Flag Indicators.” The report is hefty, but one bite-sized line that has gained traction across publications is this one:
“While the majority of cryptocurrency owners and those purchasing NFTs are doing so for righteous reasons, criminals look for any way to exploit new technologies. Cryptocurrencies and NFTs are not immune.”
The ‘Minty Fresh’ Take
There are plenty of Otherside takes floating around NFT Twitter this week, so here is one certainly worth considering from @osf_nft:
1. The NFT market is about to see the BIGGEST event yet in the next few days…here’s why 👇
— OSF (@osf_nft) April 28, 2022
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Featured image from Pexels, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.
