In brief

  • Bored Ape Yacht Club creator Yuga Labs launched NFT land deeds on Saturday for Otherside, a metaverse game.
  • The record-breaking sale has drawn ample criticism for the sale format, smart contract code, and Yuga’s response after soaring Ethereum gas fees.

Saturday’s launch of NFT virtual land deeds for Yuga Labs’ Otherside—an upcoming metaverse game based on the Bored Ape Yacht Club—was the largest NFT drop to date, and it has thus far yielded over $900 million to date in total sales volume. But it wasn’t all smooth sailing.

Yuga Labs offered up 55,000 Ethereum NFT “Otherdeeds” that represent digital terrain in the game, and the frenzied attempt by approved buyers to snap up the valuable NFTs drove up the Ethereum network’s gas fees to startling levels.

Some users spent thousands of dollars on fees to push through their transactions during the “minting” process, which refers to how new NFTs are created and sold. All told, buyers collectively spent about $180 million worth of ETH solely on fees during the sale. It made Ethereum incredibly expensive for anyone to use at the time, and led to a lot of bickering and griping among NFT owners on social media.

Unsurprisingly, many prominent Bored Ape Yacht Club collectors are upset about Yuga Labs’ approach to the Otherside mint, not to mention the company’s response to the fallout.

In a lengthy thread posted on Sunday, Bored Ape NFT holder ap3father reckoned with his allegiance to the community and personal gains from the project, but also disappointment with the format of the sale and…

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