‘Otherside’ of the Bored Ape Yacht Club Causes Ethereum Crash

The bored Ape Yacht Club sold its first NFT on April 23rd, 2021, when it first started minting its signature NFTs.

The sale was so popular that Yuga Labs, the creator of the bored ape NFTs, sold out within 12 hours, selling 10,000 NFTs at .08 Ethereum (ETH). 

Bored Ape Yacht Club Causes Ethereum Crash

Ground Floor Investment If you’re new to the NFT investment scene, it’s easy to get overwhelmed by the idea that a digital product can cost hundreds of thousands or even millions of dollars. The exciting aspect of NFTs is that they can be extremely scarce and exceedingly costly.

Ethereum Crashes-Yuga Labs Apologizes With the bored ape yacht club party came a hustle to buy Ethereum and lots of it. The buyout was so massive that Ethereum became nonfunctional for a while.

Deeds for ‘Otherside’ Land Yuga Labs created 95,000 property deeds for their ‘Otherside’ Metaverse, 45,000 were set aside for BAYC (Bored Ape Yacht Club) and MAYC (Mutant Ape Yacht Club) owners-who will have a 21 day period in which to purchase their ‘other deeds.’

More Than Just Digital Monopoly Money It’s easy to look at NFTs and cryptocurrency and think it’s a bit like play-acting, but when you dig under the surface, it’s a lot more sophisticated, and people are planning.

With the massive success of the BAYC’s ‘Otherside’ property and NFT collection sales, there’s no doubt that other NFT collection creators will be looking at duplicating what Yuga Labs has accomplished.  

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