Thursday, July 10, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Yuga Labs’ Otherside NFT Sales Break $310M

by Jacob Oliver
May 1, 2022
in Cryptocurrency
Reading Time: 3 mins read
A A
0
Home Cryptocurrency
Share on FacebookShare on Twitter


Key Takeaways

  • Yuga Labs’ Otherside Metaverse issued its first NFT drop final evening to wild success.
  • Charging 305 APE tokens for every of 55,000 Otherdeeds, Yuga Labs introduced in additional than $310 million.
  • The value of ApeCoin retraced within the wake of the sale, nonetheless, bringing Yuga’s earnings right down to $287 million at press time.

Share this text

A brand new Metaverse by Bored Ape Yacht Membership creator Yuga Labs has taken the digital world by storm, bringing in additional than $310 million in its hotly-anticipated NFT drop this weekend.

Break On By means of

On Saturday, Apr. 30, Yuga Labs minted its first spherical of Otherdeeds NFTs, making 55,000 NFTs out there to pre-approved wallets. At 305 APE apiece—which traded for slightly below $20 on the time of the mint—the drop introduced in over $310 million into Yuga’s coffers.

It’s broadly assumed that the Otherdeed NFTs will signify land within the Otherside Metaverse. Otherdeeds might be bought solely in ApeCoin (APE) and, till lately, what their precise worth could be was unknown. This predictably drove up the value of APE over the weeks main as much as the mint.

Otherside is a extremely anticipated Metaverse world set to include the model imaging of assorted high-profile NFT favorites, most notably Bored Ape Yacht Membership, but additionally Meebits, Cool Cats, CryptoPunks, and extra. The mission is developed by Yuga Labs in partnership with Animoca Manufacturers, the Hong Kong-based enterprise capital firm behind the favored however nonetheless unreleased Metaverse sport, The Sandbox.

Otherdeed NFTs offered for a flat worth, although there had initially been plans to launch the mission by way of Dutch public sale. This plan was in the end deserted, nonetheless, in an effort to keep away from “a gasoline warfare of historic proportions” throughout what was anticipated to be one of many largest NFT mints in historical past. The mint consumed over $177 million in gasoline charges, and there was such demand for the NFTs that, at one level, Etherscan crashed.

Solely those that pre-registered earlier than Apr. 1, which included present process KYC necessities, have been eligible to take part within the mint. The deeds may solely be bought with ApeCoin (APE), which was launched in March by ApeCoin DAO—a company that isn’t affiliated with Yuga Labs, in accordance with feedback Yuga Labs gave to Crypto Briefing final month.

ApeCoin has slumped within the wake of the sale, nonetheless, drawing right down to underneath $17 and erasing greater than $23 million from Yuga’s earnings inside the first few hours after the drop.

On the time of writing, Otherdeeds have been buying and selling on OpenSea at a ground worth of seven.5 ETH.

Disclosure: On the time of writing, the writer of this piece owned ETH and a number of other different cryptocurrencies. 

Share this text

The data on or accessed via this web site is obtained from impartial sources we consider to be correct and dependable, however Decentral Media, Inc. makes no illustration or guarantee as to the timeliness, completeness, or accuracy of any info on or accessed via this web site. Decentral Media, Inc. just isn’t an funding advisor. We don’t give personalised funding recommendation or different monetary recommendation. The data on this web site is topic to vary with out discover. Some or the entire info on this web site might turn out to be outdated, or it might be or turn out to be incomplete or inaccurate. We might, however are usually not obligated to, replace any outdated, incomplete, or inaccurate info.

You need to by no means make an funding determination on an ICO, IEO, or different funding primarily based on the data on this web site, and it is best to by no means interpret or in any other case depend on any of the data on this web site as funding recommendation. We strongly advocate that you just seek the advice of a licensed funding advisor or different certified monetary skilled in case you are searching for funding recommendation on an ICO, IEO, or different funding. We don’t settle for compensation in any kind for analyzing or reporting on any ICO, IEO, cryptocurrency, forex, tokenized gross sales, securities, or commodities.

See full phrases and situations.





Source link

Tags: 310MBreakLabsNFTOthersidesalesYuga
Previous Post

Warren Buffett Says Markets Have Become a ‘Gambling Parlor’ : stocks

Next Post

Hollywood actress Jolie visits Lviv, trip interrupted by sirens By Reuters

Related Posts

Trump Administration Imposes 50% Tariff on Brazilian Imports

Trump Administration Imposes 50% Tariff on Brazilian Imports

by Sergio Goschenko
July 10, 2025
0

Trump famous that the brand new 50% tariff on Brazilian imports was justified as a result of unfair remedy of...

NFT Sales Hit .82B in H1 2025 as Market Cools

NFT Sales Hit $2.82B in H1 2025 as Market Cools

by Cointelegraph By Ezra Reguerra
July 10, 2025
0

World non-fungible token gross sales volumes reached $2.82 billion within the first half of 2025, exhibiting a small lower of...

Tether Moves 80 Tons Of Gold Offshore

Tether Moves 80 Tons Of Gold Offshore

by Christian Encila
July 10, 2025
0

Trusted Editorial content material, reviewed by main trade consultants and seasoned editors. Advert Disclosure Tether, the corporate behind the USDT...

VC Firm Ego Death Capital Closes 0M Fund to Back Bitcoin-Based Projects

VC Firm Ego Death Capital Closes $100M Fund to Back Bitcoin-Based Projects

by Sneha Agrawal
July 10, 2025
0

Ego Demise:- In an enormous enhance for the growing Bitcoin DeFi, the VC agency Ego demise capital has raised $100M...

Ben ‘BitBoy’ Armstrong faces six charges for harassing phone calls, released after arrest

Ben ‘BitBoy’ Armstrong faces six charges for harassing phone calls, released after arrest

by Vivian Nguyen
July 10, 2025
0

Key Takeaways Ben 'BitBoy' Armstrong has been booked on six counts of harassing telephone calls in Cherokee County, Georgia. The...

Rex-Osprey spot Solana ETF doubles cumulative inflows to M on July 8

Rex-Osprey spot Solana ETF doubles cumulative inflows to $41M on July 8

by Gino Matos
July 9, 2025
0

The primary US-listed spot Solana exchange-traded fund (ETF) acquired $21 million of internet inflows on July 8, lifting its operating...

Next Post
Hollywood actress Jolie visits Lviv, trip interrupted by sirens By Reuters

Hollywood actress Jolie visits Lviv, trip interrupted by sirens By Reuters

Hold or Sell, Maxing Out on Mortgages, and Investor FOMO

Hold or Sell, Maxing Out on Mortgages, and Investor FOMO

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trump Administration Imposes 50% Tariff on Brazilian Imports

Trump Administration Imposes 50% Tariff on Brazilian Imports

July 10, 2025
TCS Q1 Results: Profit rises 6%, margins beat estimates; EBIT flat QoQ

TCS Q1 Results: Profit rises 6%, margins beat estimates; EBIT flat QoQ

July 10, 2025
Eight killed in overnight Sudanese paramilitary attack: Civilian bunker bombed; health workers targeted

Eight killed in overnight Sudanese paramilitary attack: Civilian bunker bombed; health workers targeted

July 10, 2025
NFT Sales Hit .82B in H1 2025 as Market Cools

NFT Sales Hit $2.82B in H1 2025 as Market Cools

July 10, 2025
Why So Many Women Feel Pain During Their C-Sections

Why So Many Women Feel Pain During Their C-Sections

July 10, 2025
Hundreds of migrants moved from Crete to Greek mainland as island struggles with Libya arrivals

Hundreds of migrants moved from Crete to Greek mainland as island struggles with Libya arrivals

July 10, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Trump Administration Imposes 50% Tariff on Brazilian Imports

TCS Q1 Results: Profit rises 6%, margins beat estimates; EBIT flat QoQ

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In