In Brief:
- On Oct. 17, OpenSea placed Koda #7940, part of Yuga Labs’ Otherside (official site), into its Flagship Collection.
- The marketplace appears as the owner on the Koda’s OpenSea listing, which shows a last sale price of $2,098.18. OpenSea has not said how much it paid.
- The buy is part of OpenSea’s $1+ million program to acquire and hold NFTs it sees as culturally important.
The newest piece in OpenSea’s Flagship Collection, the NFT holdings the marketplace keeps for itself, is Koda #7940 from Otherside.
OpenSea announced the acquisition on X on Oct. 17 and described the token as “an original inhabitant of Otherside.”
Introducing the latest addition to OpenSea's Flagship Collection…
Koda #7940 from @OthersideMeta: an original inhabitant of Otherside. First found on Otherdeeds in 2022, Kodas drew collectors into the mysterious new world they guarded.
More below@OpenSeaView on X ↗
The post went on: “First found on Otherdeeds in 2022, Kodas drew collectors into the mysterious new world they guarded.”
The token
Koda #7940 is an Ethereum-based ERC-721 token. On its OpenSea item page, OpenSea is shown as the current holder, and the most recent sale is listed at $2,098.18.
The announcement gave no purchase price, and OpenSea hasn’t revealed the amount it paid. At the time the page was reviewed, the top standing offer for the token was $1,167.55, while the collection floor stood at $1,406.87.
According to the OpenSea collection page, the Otherside Koda floor was 0.579999 ETH. The page showed 8,326 tokens in total supply held by 3,227 owners, and $91,218.84 in trading volume across the prior seven days.
Around the time of the announcement, ETH was changing hands at $2,436.48, a 0.74% decline.
From Otherdeeds to a standalone collection
Kodas made their debut in 2022 as a trait on Otherdeed for Otherside, the land NFTs Yuga Labs sold to give buyers claims to plots within Otherside. Each Otherdeed has its own combination of environment and sediment; resources appear on some, artifacts on others. Only a very small number of them have a Koda roaming on them.
Yuga eventually split the creatures out into a dedicated Otherside Koda collection on Ethereum, launched in April 2023. In the collection’s description, Kodas are called “celestial beings that reside in Otherside,” beings whose origins remain poorly understood and whose magic and science keep Otherside running.
Owners of Otherside Koda NFTs are subject to a license that Yuga publishes at otherside.xyz/license/koda. The collection trades on OpenSea and Blur. OpenSea shows a 5% creator fee and about $54.2 million in all-time volume.
How the Flagship Collection works
The Flagship Collection is described by OpenSea as “a living museum of NFTs.” According to the company, it reflects a pledge of more than $1 million toward acquiring and celebrating digital art.
Purchases are chosen by a small internal committee that takes guidance from outside advisors. OpenSea said the committee considers “long-term cultural relevance” and seeks out works that “will stand the test of time.”
OpenSea has also set up trading safeguards for the program. Any committee member with a financial interest in a collection under review must recuse themselves. Knowledge of pending selections is limited to a small number of employees, and staff are barred from trading collections that are being considered or are slated for purchase until they are announced.
The company said it intends to keep its acquisitions for the long term, though it may sell in rare cases where it has “concerns with a project’s reputation or stability.”
OpenSea further noted that the purchases do “not constitute financial advice or an endorsement or recommendation.”