Yuga Labs, the startup behind the Bored Ape Yacht Club (BAYC), had its highly anticipated Otherside metaverse mint on Saturday night, clogging the Ethereum mainnet and sending gas prices to shocking heights. In the case of Otherdeeds, each is meant to be “the key to claiming land in Otherside,” Yuga Labs’ upcoming metaverse game.
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Yuga Labs sees $561m in Otherside Ethereum NFT sales within 24 hours
But Ethereum co-founder Vitalik Buterin has a different view. “Don’t think optimizing the contract would help,” he said of the Otherside mint. “Regardless of contract details, tx fee goes up until list price + tx fee = market price. If gas usage per purchase decreased 2x, the equilibrium gas price would have just been >12000 gwei instead of 6000.”
