The largest and most anticipated NFT mint of all-time happened Saturday night with the launch of Otherdeed for Otherside from Yuga Labs. The NFTs are tied to Otherside, a metaverse being built by the parent company of Bored Ape Yacht Club. The mint didn’t go as smoothly as planned and has Ethereum (CRYPTO: ETH) founder Vitalik Buterin chiming in.
What Happened: Large demand for Otherdeed led to high gas fees for the NFTs, costing users thousands of dollars to mint an NFT that came at a cost of 305 ApeCoin (CRYPTO: APE), or less than $6,000. Many suffered failed transactions, meaning they paid a gas fee and did not get their NFT.
“This has been the largest NFT mint in history by several multiples, and yet the gas used during the mint shows that demand far exceeded anyone’s wildest expectations,” Yuga Labs tweeted.
Many on Twitter pointed out that over $150 million in Ethereum was burned for the mint, which led to the popular cryptocurrency trending on Twitter during portions of Saturday night.
Yuga Labs shared in …
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