This weekend, an NFT collector purchased land from Yuga Labs’ Otherside metaverse for 625 ETH, or approximately $1.6 million at the time of the event. This investor also becomes the owner of a unique artifact from the game, namely the potion featured in the game’s trailer.
Record price for Otherside metaverse
On Sunday, non-fungible token (NFT) collector n0b0dy.eth bought a piece of land in the Otherside metaverse for ETH 625, or about $1.6 million when the deal was done. This is the largest sale to date for the Yuga Labs virtual world.
At the launch mint on the night of May 1, the original buyer was able to obtain this land and a second one for a total of 610 ApeCoin (APE) and 2,029 ETH, or $16-17,000 at the time. The sale of land number 59,906 thus yielded a very substantial profit.
Thanks to its purchase, n0b0dy.eth also becomes the owner of a unique artefact from the Otherside metaverse, namely the potion that is drunk by the Bored Ape in the trailer that unveiled the game to the general public:
Finally got my Mystery Potion https://t. co/PcZUgMZMo8@othersidemeta nfts NFTCommmunity OtherdeedforOtherside X2Y2
– n0b0dy. eth (@nobody_vault) May 8, 2022
While the sale of the land had been talked about, due to the congestion and fees it had generated on the Ethereum blockchain (ETH), it is understandable that part of the community has consented to such an investment in view of the potential benefits.
As a reminder, the transaction fees were so high that 71,718.34 ETH were burned on May 1.
Popularity maintained despite market
While the cryptocurrency market is not at its best, announcements around metavers continue to pour in regularly. The latest being Dubai’s financial watchdog joining the virtual world of The Sandbox, as well as the Vatican launching an NFT collection in the metaverse.
On the subject of NFTs, the announcement of the moment remains Meta, which has just made official the integration of these on its social network Instagram.
Regarding Yuga Labs, the studio that created Otherside, the company announced last week that it would be refunding the fees for the transactions that failed during the sale of its land:
We have refunded gas fees to everyone who made a transaction that failed due to network conditions caused by the mint. The fees have been sent back to the wallets used for the initial transaction. Here’s how to find your refund…
– Yuga Labs (@yugalabs) May 4, 2022
While this metaverse is still young, the popularity of Yuga Labs owned collections such as Bored Ape Yatch Club (BAYC) and CryptoPunks is giving it a strong start. However, everything is still to be built and it is too early to say if it will be able to attract as many people as its competitors The Sandbox or Decentraland.
