The Otherside Metaverse Project sold out all 55,000 other land NFTs available within 3 hours of public sale starting Saturday at 9pm.
According to the other side Official Twitter accountInvestors have scooped up all NFTs with an offering that only accepts ApeCoin cryptocurrencies.
The price of mint was 305 ApeCoin and was worth about $ 5,800 at the time of mint. It brought 16.7 million ApeCoins ($ 317 million) and became a record NFT mint. Mentha is a public offering where NFTs are sold through smart contracts on blockchains like Ethereum.
The buyer had to pass the Know Your Customer (KYC) verification and pre-approve the cryptocurrency wallet on the project website.
NFTs give buyers the right to claim land in the Otherside Metaverse. A blockchain-based virtual world developed by Yuga Labs, the creator of the popular Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFT collections.
After today’s mint, BAYC and MAYC owners can also claim free land for 21 days.
Over 27,000 users have purchased 55,000 available Otherdeed NFTs totaling 100,000 mint. The remaining 45,000 is included in the airdrops that are open to existing owners of BAYC and MAYCNFT.
As a long-awaited NFT release, Otherdeed Mentha has caused gas prices on the Ethereum blockchain to skyrocket to 8,000 GWEI per data from Etherscan Block Explorer.
this As a result of the gas war, many Ethereum users purchased NFTs at the same time and tried to use network transaction fees to overpriced each other. Such bids can spike blockchain prices, as they do today.
In the end, data on the chain revealed that the Otherdeed Gas War put up an additional $ 172 million transaction fee for individual buyers between $ 4,000 and $ 10,000. Many people complained that they couldn’t buy because of these high mint prices.
On Twitter, Ethereum developer Foobar Criticism Yuga Labs created a smart contract that wasn’t optimized for gas wars.
Comments on the Gas War, Yuga Labs Said The Metaverse on the other side may be moving from Ethereum to its own Layer 1 blockchain to improve scalability.