Yuga Labs, the creator of Bored Ape Yacht Club, launched a sale on Saturday night of virtual land related to its metaverse project, Otherside. However, everything didn’t exactly go to plan.

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At 9 PM ET on Saturday, Yuga Labs sold NFTs called "Otherdeeds" to give buyers rights to claim plots of virtual land in its upcoming metaverse belonging to the Bored Ape Yacht Club ecosystem called “Otherside.”

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There were 55,000 Otherdeeds for sale, all of which could be bought with the project’s native token, ApeCoin. As anticipated, the Otherdeeds immediately sold out for 305 ApeCoin each (around $5,800), plus gas fees in Ether, which skyrocketed after the sale went live.

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While the drop brought in 16.7 million ApeCoin ($317 million), according to data from Etherscan, collectors buying Otherseed NFTs paid an additional 64,000 Ether in gas fees, totalling $179.3 million in the first 24 hours.

Hustler @0xHustler

I just paid $14k in gas to mint 4 Otherdeeds for Otherside. I’m going to go throw up now. @BoredApeYC

May 1st 2022

80 Retweets1,281 Likes

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“Yuga Labs’ virtual land sale has triggered one of the highest spikes in transaction fees on Ethereum,” said Jason Wu, founder of decentralized lending protocol DeFiner. “I have seen other NFT launches causing high gas fees, but this is definitely one of the highest.”

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Yuga Labs later apologized for the disaster, noting the mint was “so large that Etherscan crashed” and suggested that ApeCoin should be mitigated to its own blockchain to avoid similar issues in the future. The team also promised to reimburse gas fees for the thousands of users that experienced failed transactions.

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