The launch of the Otherdeeds virtual lands NFTs garnered massive support from the community, running out almost instantly upon release. Due to high demand, the launch caused the Ethereum network gas rates to rise considerably, which led users to pay from 2.6 Ether (ETH) to 5 ETH to complete their transactions.
However, many members of the community were unhappy with the event. According to Twitter user RandomGuyonct, several users have speculated that the mint was “planned to fail” so that the Yuga Labs team could announce the launch of its own blockchain network, as he mentioned a chain migration in a tweet because of the event.
We’re sorry for turning off the lights on Ethereum for a while. It seems abundantly clear that ApeCoin will need to migrate to its own chain in order to properly scale. We’d like to encourage the DAO to start thinking in this direction.
— Yuga Labs (@yugalabs) May 1, 2022
Aside from this, Twitter user Mark Beylin accused Yuga Labs of “showing their true colors” and stated that they had exited all Ape-related NFT investments. beylin too warned to others assuming that the people behind Yuga Labs are “bad actors”.
Just finished exiting all of my Ape related NFTs
now that Yuga has revealed their true colors, I can’t unsee it
with artists of the highest order
— Mark Beylin (@MarkBeylin) May 2, 2022
Twitter user CryptoFinally also he claimed that Yuga Labs gave members of the Bored Ape Yacht Club (BAYC) better land than non-members of the group. “Those who don’t own a BAYC NFT and wanted to participate paid for very bad land, the BAYC holders got the only land worth having,” they wrote.
Otherdeed’s NFT sale also pushed Ethereum’s burn rate to a new all-time high. Data from Glassnode and Data Always showed that nearly 70,000 ETH was burned on the day of the virtual land sale.
Cointelegraph reached out to Yuga Labs for comment but received no response.
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