In the wake of its chaotic metaverse land sale, Yuga Labs says it’s outgrown Ethereum. Should we have seen this coming? Source
Otherside and the Future of NFT Consolidation
Tag: NFT
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Yuga Labs’ Otherdeeds NFT mint triggers backlash from community
The aftermath of the Otherdeeds nonfungible token (NFT) mint is filled with disgruntled community members voicing their complaints on Twitter over Yuga Labs’ handling of the event. The launch of Otherdeeds NFTs gained massive support from the community, selling out almost instantly after it dropped. Because of the high demand, the launch drove Ethereum gas fees sharply higher, leading users to pay from 2.6 Ether (ETH) up to 5 ETH to complete their transactions. However, many community members were unhappy with the event. According to Twitter user RandomGuyonct, several users…
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Ukrainian Soccer Club Shakhtar to Raise Humanitarian Funds Through NFT Sale – Bitcoin News
Shakhtar Donetsk, a leading soccer team in Ukraine, will sell a collection of non-fungible tokens (NFTs). The club intends to auction several signed jerseys to raise funds for Ukrainian citizens affected by the ongoing war with Russia. FC Shakhtar Donetsk to Auction Digital Collectibles With Help From Binance Binance NFT, the marketplace for non-fungible tokens of the world’s leading crypto exchange, announced Friday the launch of an NFT collection of FC Shakhtar Donetsk, one of Ukraine’s top professional soccer clubs. Next week, Shakhtar will be auctioning nine signed jerseys from…
Ethereum burning spikes to new high on Yuga Labs’ NFT hype
The burning rate of Ethereum (ETH) has spiked to new all-time high (ATH) levels following the heavily anticipated sale of tokenized land plots in Yuga Labs’ upcoming Metaverse project the “Otherside.” Yuga Labs, the creators of the Bored Ape Yacht Club (BAYC) sold 55,000 virtual land NFTs dubbed “Otherdeeds” on May 1. The overwhelming demand for the tokens saw Ethereum gas fees shoot up so high that a handful of users paid as high as 2.6 ETH ($7,400) to 5 ETH ($14,270) just to get their transactions through. A base…
The Largest NFT Mint in History — Bored Ape’s Otherside Virtual Land Sale Raises $320 Million – Bitcoin News
On Saturday, the creators of Bored Ape Yacht Club (BAYC), Yuga Labs, revealed the Otherside metaverse virtual land sale which turned out to be one of the largest non-fungible token (NFT) mints to date. The Otherside metaverse virtual land sale raised close to $320 million by selling 55,000 parcels of Otherside land. Otherside Metaverse Sees $320 Million Raised, Ether Fees Spike, Etherscan Crashes The Otherside metaverse virtual land sale took place on Saturday, and a great deal of people purchased Ethereum-based NFTs dubbed “Otherdeeds.” Demand for the Otherside metaverse deeds…
Solana Goes Dark For 7 Hours as Bots Swarm ‘Candy Machine’ NFT Minting Tool
Other parts of the ecosystem quickly moved to bolster their defenses. At 11:36 p.m. EST, Metaplex, the key steward of Solana NFT infrastructure and one closely intertwined with Candy Machine, tweeted it would soon deploy a 0.01 SOL “botting penalty” to help NFT projects stanch excessive traffic. Source
Blockchain 102 and The Dark Side of Blockchain
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io By now most people have heard of, and to a degree: understood, the core principles of Bitcoin and proof-of-work based blockchains. But the past few years have brought us a larger universe of related technologies, inhabited by “crypto” enthusiasts. This talk will venture beyond the basic Bitcoin blockchain to explain more advanced (and/or simpler) projects, and skeptically evaluate their uses. Spoiler: There Are None. I will introduce a number of fascinating and intellectually engaging protocols and concepts, from Decentralized Finance (DeFi) to…
The One Solution That Could Eliminate NFT Fraud
An interview with REV3AL’s founders on building digital counterfeiting and copyrights fraud prevention tools. When it comes to the NFT industry, there’s hardly a single resolution to the industry-agnostic issues of digital fraud and counterfeiting. NFTs, digital IDs, copyright images and videos, and other forms of digital media can be easily duplicated and disseminated, making it tricky to find a solution to prevent different types of attacks. The REV3AL platform believes they have the all-in-one solution to prevent digital counterfeit and copyright fraud. Its solution aims to revolutionize interactions in…