Major Whale Move: Billionaire Adam Weitsman Locks in 5,000 Otherside NFTs as Yuga Labs Doubles Down on Gaming

Scrap-metal billionaire Adam Weitsman just made a statement with his wallet. In a direct OTC deal with Yuga Labs, Weitsman secured 5,000 NFTs spanning Otherdeeds, Mega Kodas, and Weapon Kodas—signaling serious conviction in the Otherside metaverse’s long-term trajectory. The acquisition marks a turning point for both the collector and Yuga Labs’ broader strategic pivot toward gaming-focused digital assets.

The Deal That Turned Heads

Weitsman didn’t go hunting on secondary markets. Instead, he negotiated directly with Yuga Labs, purchasing nearly half of the studio’s remaining Otherside holdings in a single transaction. This wasn’t casual—the billionaire publicly committed to acquiring additional NFTs on open markets, cementing his bet on the Otherside ecosystem. “Today is a special day for me,” Weitsman announced on X, emphasizing this as a multi-year investment rather than a quick flip.

Yuga Labs’ co-founder Greg Solano responded with enthusiasm: “Grateful to have Adam double down as a partner and builder for this next phase of Otherside.” The sentiment reveals how critical such institutional-grade backing is for NFT projects struggling to regain relevance.

What This Means for the Otherside Ecosystem

The timing couldn’t be more strategic. Just days after the Otherside metaverse went live and hosted its first Bubble event, a high-profile billionaire drops millions into the collection. The floor price spiked to 0.19 ETH—a one-month peak—as traders took notice.

The broader context: Yuga Labs is in the middle of a strategic reset. The studio divested from CryptoPunks and Moonbirds, handing those IPs to third-party curators to focus entirely on Otherside. This consolidation suggests the studio believes gaming and metaverse mechanics—not static PFP collections—are where value creation happens in 2025.

Can Otherside Actually Revive NFT Gaming?

Here’s the skeptic’s take: the current NFT market moves at a crawl. Only a few dozen participants trade Otherside items on any given day. The collections aren’t scarce, and Yuga Labs plans to expand holdings further in coming months.

Yet the ambition is clear. Otherside launched with events like Bathroom Blitz and Outbreak, each drawing hundreds of players—reminiscent of early on-chain gaming. If Yuga Labs executes on its play-to-earn roadmap (crypto rewards for players), the narrative flips entirely. Otherdeeds and their companion items currently lack clear in-game utility, but that’s likely a feature, not a bug—allowing for value discovery as gameplay evolves.

Weitsman’s 5,000-NFT lock-in essentially bets that Yuga Labs can pull off what few studios have: revive metaverse gaming after years of dormancy. Whether that conviction pays off depends entirely on execution.

The real story: big money moves first, ecosystem sentiment follows.