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Otherside Koda separation, Vessel claiming now open! Participation rate is less than 30%, free airdrop not claimed

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Otherside Koda separation, Vessel claiming now open! Participation rate is less than 30%, free airdrop not claimed

Yuga Labs announced at the end of March that they will be launching the 2D strategy game "Legends of the Mara," where users can explore the world of Otherside. Today, the airdrop related to the game has officially begun, allowing Otherside landowners to claim the meteorite fragment "Vessel" and separate the guardian Koda from the land.

Otherside Vessel Claim and Koda Separation Open Today

Officials state that claiming Vessel and separating Koda are both indefinite processes, but it is recommended to perform these actions on a computer browser.

Regardless of the operation, holders need to destroy the held Otherside land Otherdeed. For each destroyed Otherdeed, a Vessel NFT will be obtained. There are three different types of Vessel, each with unique functions.

Furthermore, if the original Otherdeed contains Koda, upon destruction, Koda will be separated to become an independent Koda NFT. After the destruction of Otherdeed, an additional Otherdeed Expanded NFT will be provided by the officials, resembling the appearance of the destroyed Otherdeed and can be used in future games.

This means that after the initial destruction of Otherdeed, a maximum of three additional NFTs, Vessel, Koda, and Otherdeed Expanded, can be obtained, each belonging to an independent NFT series.

In addition, the destruction of Otherdeed will generate a cornerstone fragment, which will be added to the metadada of Otherdeed Expanded as proof of participation in the activity.

Low Participation in Otherside Activities, Losing Business with No Takers

Although the future development of Otherside is promising, holders of Otherdeed have not been very active in participating in this activity, with the issue seeming to lie in the price of NFTs.

The total quantity of original Otherdeed is 100,000, with the current lowest market price being about 1.63 ETH. However, when the lowest market prices of Vessel and Otherdeed Expanded are added together, it is only 1.45 0.35ETH + 1.1 ETH.

In other words, this is a losing business, resulting in a loss of 0.18 ETH if executed, hence only around 17,600 Vessel airdrops have been claimed, with an execution rate of only 17.6%. However, if one considers themselves chosen, they can still claim the Vessel airdrop, as the rarest Vessel is priced at about 0.67 ETH, potentially making a small profit of 0.14 ETH with luck.

Furthermore, there are a total of 10,000 Otherdeed containing Koda, with the lowest price being 12 ETH, facing a similar situation. Since the separated Koda has a minimum price of 10.45 ETH, when combined with the prices of Vessel and Otherdeed Expanded, the total value is about 11.9 ETH, slightly lower than the original value.

Perhaps with the price of Otherdeed containing Koda being several times that of regular Otherdeed, holders are hesitant to act without clarifying the opportunity cost of this behavior, resulting in only around 2,350 Koda being separated, with an execution rate of only 23.5%.

Nevertheless, with continuous updates from Yuga Labs recently, significantly driving up the trading volume of related NFTs, and earning royalties, even with a relatively low participation rate in the activity, Yuga Labs is still making a substantial profit.

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