Yuga Labs HT-MTL NFT is a Hit; Grosses Over $5M in a Day

• Yuga Labs latest NFTs can be used in future minigames.
• The company released Dookey Dash in January this year.

Recently launched HV-MTl (Heavy Metal) collection is the new hot stuff in the market as the collection tops charts. The cluster is a set of 30,000 mechanized boxes. Eligible Sewer Pass NFT holders can ‘summon’ these tech-driven boxes by burning their passes. Also, they can use the new set of Non Fungible Tokens (NFTs) in upcoming minigames by Yuga Labs.

Are Bored Apes Looking at their Mechanized Bros?

According to CryptoSlam, a data aggregator, the HV-MTL NFT collection has gathered over $5 million in sales. Bored Ape Yacht Club (BAYC), another Yuga Labs NFT collection, rose by almost 105% in the past 24 hours. The company is currently working on ‘Otherside,’ an upcoming metaverse game. ‘Otherdeeds,’ the digital land plots in the metaverse game, plunged by almost 24% in a day.

Yuga Labs released Dookey Dash in January which garnered a lot of attention across the globe. In popular culture since its the 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 highest grossing token from the Sewer Pass collection. Moreover, the HV-MTL collection may give birth to another species (more likely a mechanized version) of Bored Apes.

A couple of weeks ago, the Bored Ape team closed a limited time event, Toad Mode, to review the final scores. To ensure fairplay, those users who allegedly cheated while playing the game were eliminated from the scoring process. According to a Twitter thread, the scores will determine the nature of power sources they’ll get.

All these events may connect to the Otherside metaverse. The game’s official release has not been announced yet, but it has been suggested that users may see the launch this year itself. They released the ‘first trip’ in July 2022 which attracted around 4,300 visitors. The ‘second trip’ is scheduled on March 25, 2023.

The metaverse sector is growing rapidly and most of the popular games on this unique digital space are yet to go “mainstream.” Many confuse the metaverse as a another facilitator of play-to-earn (P2E) games. Sure, P2E gaming is among the most popular sections of the virtual world, but the metaverse goes way beyond that.

CoinMarketCap data shows the metaverse sector fell by around 5.1% in the past 24 hours. Currently the sector holds a market capitalization at over $14 billion. ApeCoin (APE) remains the biggest token in the space. MANA and SAND, native tokens in Decentraland and The Sandbox respectively, were down by almost 1% in a day.

Metaverse is yet to reach many corners of the world given the inaccessibility to devices like AR/VR headsets. In the meantime, companies like Meta, Apple among others are doing their best to make this technology available to people.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.