Scrap-metal billionaire Adam Weitsman bought 5,000 NFT in a direct deal with Yuga Labs

Billionaire Adam Weitsman has acquired 5,000 Otherside NFTs directly from Yuga Labs as a sign of long-term support for the gamified collection. The billionaire’s purchase comes as Yuga Labs looks to reinvent itself as the producer of the most valuable items.

In an X post Monday, Weitsman announced the purchase of 5,000 NFTs from Otherside collections, including Otherdeeds, Mega Kodas, and Weapon Kodas. The acquisition comes directly from items held by Yuga Labs in an OTC deal. 

Weitsman also plans to acquire more NFTs on the open market, putting trust in the Otherside ecosystem. 

Today is a special day for me.

I’m making a long-term investment in Otherside and acquiring over 5,000 Otherdeeds, Mega Kodas and Weapon Kodas direct from @yugalabs to continue building my collection. I have also committed to making a series of acquisitions on the open market… pic.twitter.com/I9HeQwNx5k

— Adam Weitsman (@AdamWeitsman) August 4, 2025

The co-founder of Yuga Labs Wylie Aronow praised the conviction of Weitsman for his readiness to expand his personal collection. 

“Grateful to have Adam double down as a partner and builder for this next phase of Otherside. No one better to have in our corner,” said Greg Solano, co-founder of Yuga Labs.

Weitsman will lock the NFT for years, betting on the long-term development of the Otherside metaverse. 

Yuga Labs focuses on Otherside after selling IP to top collections

Yuga Labs was in the process of rearranging its intellectual property, selling CryptoPunks and Moonbirds to third-party curators. The Otherside will be a new area of focus, as gaming and NFTs made a return in 2025. 

The purchase arrived just days after the Otherside metaverse opened to users and held its first Bubble event and virtual meetup. 

Yuga Labs owned 10,400 Otherside NFTs, essentially selling nearly half its holdings. Following the announcement, the Otherside collection increased its floor price to a one-month peak of 0.19 ETH. The Otherside collections are relatively minor compared to Punks and Bored Apes, but show a readiness to revive metaverse games and gamified NFTs. 

Otherside Meta aims to draw big collectors

The initial Otherside collections launched years before the expansion of the Yuga Labs metaverse. Some of the items were exclusive and extremely expensive to mint. 

The Otherside collections may expand in the future, with a large number of items. Yuga Labs aims to reach out to a large audience while also appealing to top whales and collectors. This time around, the collection may be better protected from mint snipers, who front-ran buyers during the original NFT creation.

Big collectors are making moves.

With Bubbles, Bathroom Blitz, and Otherside Outbreak releasing this month, people are starting to understand the potential of @OthersideMeta – community built experiences.

It's not just about what Yuga can make, the real story is about what… pic.twitter.com/xgaKvClRwZ

— figge (@mfigge) August 2, 2025

The current slow period for NFTs means Otherside items are traded by a few dozen participants at best. The collections are not inaccessible or rare, with more items and extensions coming in the next few months. Otherside aims to bring back real engagement and revive the 2021 rush to metaverse games. 

Otherdeeds characters and items are still not clearly linked to their in-game utility. The NFT collections may go through a value discovery period as the game progresses. 

In the future, the Otherside meta may start to reward players with crypto payments, reviving the play-to-earn model. For now, Yuga Labs draws in a few hundred players for its special events, similar to the early days of on-chain games. The attempt to revive NFT-based gaming after years of almost no activity may be a challenge, as some investors remain skeptical.

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