Home
What's new
Latest activity
Authors
Store
Latest reviews
Search products
Forums
New posts
Search forums
What's new
New posts
New listings
New products
New profile posts
Latest activity
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
Cart
Cart
Loading…
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Search titles only
By:
Menu
Log in
Register
Navigation
Install the app
Install
More options
Change style
Contact us
Close Menu
Forums
SVTPerformance's Chain of Restaurants
Road Side Pub
BITCOIN
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Weather Man" data-source="post: 16767383" data-attributes="member: 137766"><p><h3><a href="https://seekingalpha.com/news/3829903-bored-apes-metaverse-land-auction-crashes-ethereum-raises-320m?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">Bored Apes metaverse land auction crashes Ethereum, raises $320M</a></h3><p>May 02, 2022 7:34 AM ET</p><p>Virtual land related to Yuga Labs' metaverse project, Otherside, was in such high demand during an auction on Saturday this that it disrupted the Ethereum blockchain and sent transaction fees soaring.</p><p>Yuga Labs, the creator of Bored Apes Yacht Club non-fungible tokens, raised $320M of cryptocurrency in the largest offering of its kind, Bloomberg <a href="https://www.bloomberg.com/news/articles/2022-05-01/bored-ape-metaverse-frenzy-raises-millions-disrupts-ethereum?sref=aQsCj4Jg" target="_blank">reported</a>. The auction only accepted ApeCoin (<a href="https://seekingalpha.com/symbol/APE-USD" target="_blank">APE-USD</a>) for bids on the virtual land.</p><p>Late Saturday night, the company<a href="https://twitter.com/yugalabs/status/1520612364839661568" target="_blank"> said </a>it was aware of failed transactions due to the large demand "being forced" through the Ethereum block chain," and that it would refund the "gas", or transaction fees, of those whose transactions failed.</p><p>On Saturday, each plot cost ~$5,800 based on ApeCoin's (<a href="https://seekingalpha.com/symbol/APE-USD" target="_blank">APE-USD</a>) price of $19, plus transaction costs in ether (<a href="https://seekingalpha.com/symbol/ETH-USD" target="_blank">ETH-USD</a>). The transaction fees for each Otherdeed, the NFT minted in the metaverse project, reached ~$6,000, or 2 ether (<a href="https://seekingalpha.com/symbol/ETH-USD" target="_blank">ETH-USD</a>) in fees to mint, exceeding the price of the deed itself, Bloomberg said, citing data from Etherscan.</p><p>"It seems abundantly clear that ApeCoin will need to migrate to its own chain in order to properly scale," Yuga Labs <a href="https://twitter.com/yugalabs/status/1520612362986078208" target="_blank">said</a> on a tweet. "We'd like to encourage the DAO to start thinking in this direction."</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16767383, member: 137766"] [HEADING=2][URL='https://seekingalpha.com/news/3829903-bored-apes-metaverse-land-auction-crashes-ethereum-raises-320m?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']Bored Apes metaverse land auction crashes Ethereum, raises $320M[/URL][/HEADING] May 02, 2022 7:34 AM ET Virtual land related to Yuga Labs' metaverse project, Otherside, was in such high demand during an auction on Saturday this that it disrupted the Ethereum blockchain and sent transaction fees soaring. Yuga Labs, the creator of Bored Apes Yacht Club non-fungible tokens, raised $320M of cryptocurrency in the largest offering of its kind, Bloomberg [URL='https://www.bloomberg.com/news/articles/2022-05-01/bored-ape-metaverse-frenzy-raises-millions-disrupts-ethereum?sref=aQsCj4Jg']reported[/URL]. The auction only accepted ApeCoin ([URL='https://seekingalpha.com/symbol/APE-USD']APE-USD[/URL]) for bids on the virtual land. Late Saturday night, the company[URL='https://twitter.com/yugalabs/status/1520612364839661568'] said [/URL]it was aware of failed transactions due to the large demand "being forced" through the Ethereum block chain," and that it would refund the "gas", or transaction fees, of those whose transactions failed. On Saturday, each plot cost ~$5,800 based on ApeCoin's ([URL='https://seekingalpha.com/symbol/APE-USD']APE-USD[/URL]) price of $19, plus transaction costs in ether ([URL='https://seekingalpha.com/symbol/ETH-USD']ETH-USD[/URL]). The transaction fees for each Otherdeed, the NFT minted in the metaverse project, reached ~$6,000, or 2 ether ([URL='https://seekingalpha.com/symbol/ETH-USD']ETH-USD[/URL]) in fees to mint, exceeding the price of the deed itself, Bloomberg said, citing data from Etherscan. "It seems abundantly clear that ApeCoin will need to migrate to its own chain in order to properly scale," Yuga Labs [URL='https://twitter.com/yugalabs/status/1520612362986078208']said[/URL] on a tweet. "We'd like to encourage the DAO to start thinking in this direction." [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
SVTPerformance's Chain of Restaurants
Road Side Pub
BITCOIN
Top