The Otherside metaverse project has sold all 55,000 existing Otherdeed land NFTs within three hours of the start of the public sale. According to Otherside’s official Twitter account, investors collected all NFTs with the ApeCoin cryptocurrency alone.
The price of the mint was 305 ApeCoin, which at the time of mint was equivalent to approximately $5800. Meanwhile, buyers had to pass Know Your Customer (KYC) verification and pre-verified their crypto wallet on the project’s website.
NFTs offer buyers the popular Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) will grant rights to claim land in the Otherside metaverse, a blockchain-based virtual world developed by Yuga Labs, creator of NFT collections. After the Mint, BAYC and MAYC owners will also be able to request free land for a 21-day period.
More than 27,000 users have purchased 55,000 available Otherdeed NFTs, with a total of 100,000 printed. The remaining 45,000 will be airdropped to existing BAYC and MAYC NFT holders.
Gas War Has Happened
On the other hand, Otherdeed mint has caused gas fees on the Ethereum blockchain to rise to 8,000 GWEI according to Etherscan block explorer data. This resulted from the gas war: a situation in which many Ethereum users are trying to buy NFT at the same time and bidding more than each other using the network’s transaction fees. Such proposals can result in increased fees on the blockchain, as they do today.
On Twitter, Ethereum developer Foobar criticized Yuga Labs for writing a smart contract that wasn’t optimized for gas wars.
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