Largest NFT mint ever: Making sense of Yuga Lab’s ‘virtual’ land bonanza
Bored Ape creator Yuga’s Otherdeed launch was the largest NFT mint ever, but are metaverse communities turning into gated communities? Last week, 55,000 parcels of “virtual land” were sold on the Ethereum blockchain for more than $300 million, the largest nonfungible token (NFT) mint ever. It wasn’t without controversy. In return for shelling out close to $6,000, a purchaser received an Otherdeed NFT, which authenticates that buyer’s ownership of a patch of digital real estate in developer Yuga Labs’ new Otherside game environment. What can you do with a plot of virtual ground? Well, you....
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On Saturday, the creators of Bored Ape Yacht Club (BAYC), Yuga Labs, revealed the Otherside metaverse virtual land sale which turned out to be one of the largest non-fungible token (NFT) mints to date. The Otherside metaverse virtual land sale raised close to $320 million by selling 55,000 parcels of Otherside land. Otherside Metaverse Sees $320 Million Raised, Ether Fees Spike, Etherscan Crashes The Otherside metaverse virtual land sale took place on Saturday, and a great deal of people purchased Ethereum-based NFTs dubbed “Otherdeeds.” Demand for the Otherside metaverse....
ApeCoin DAO board member Yat Siu said that there is currently "no discussion" regarding an exclusive chain for APE. ApeCoin (APE) announced its integration with Ethereum (ETH) sidechain Polygon after the recent Yuga Labs’ Otherdeeds nonfungible token (NFT) minting incident that led to speculation on a new chain for APE.One of the world's largest Web3 ecosystems, @0xPolygon now supports ApeCoin making it available for 19,000+ dApps and games across the board! https://t.co/vUoGTAfqkl— ApeCoin (@apecoin) May 2, 2022 On Sunday, Yuga Labs, the creators of the Bored Ape Yacht Club NFT....
While the Otherdeed NFTs could be minted only in APE, it also required ETH for gas fees. While the community was witness to the largest NFT mint yet, Ethereum (ETH) gas prices rose to unprecedented levels, in addition to users experiencing failed transactions due to blockchain bottlenecks.Bored Ape Yacht Club creator Yuga Labs launched a sale of Otherdeed non-fungible tokens (NFTs) that represents digital land deeds on their new venture, the Otherside metaverse. With each piece of land selling at 305 ApeCoin (APE) or nearly $5,800 at the time of the sale, Yuga Labs made $319 million after....
Floor prices for some of the most popular NFT collections are slipping to their lowest levels in over a week, including the top-traded Otherdeed for Otherside Metaverse land. The contentious Otherdeed for Otherside nonfungible token (NFT) floor price has dropped below its mint price to 2.45 ETH worth about $5,713 as other major collections are also getting hit.The Otherdeed for Otherside collection from Yuga Labs, makers of the Bored Ape Yacht Club (BAYC) collection, was a highly anticipated NFT mint for land in their upcoming Metaverse platform. Users paid for the land with 20 Apecoin....
It has now been a couple of months since Yuga Labs’ had essentially “broken” Etherscan due to the high demand generated by its Otherside mint. As such, there have been discussions on how such an entity could mitigate the type of problems that arose during its legendary mint. For the answer to this, there have […]