TORONTO (Barrio) – Yuga Labs, the creator of the popular Bored Apes Yacht Club collection of NFTs, launched a sale of virtual land related to its highly anticipated metaverse project called ‘Otherside’, raising about $320 million. Demand was so strong that activity related to the event caused problems in the Ethereum blockchain, sending transaction fees soaring.
Anticipation for the virtual land was so strong that they sold 55,000 plots for approximately $5,800 plus other transaction fees…. In 3 hours!
Not only are homes completely unaffordable in Toronto, but it appears that virtual land will be too. LOL SMH
Written by: Staff
Source: Bloomberg
