The NFT Bored Ape collection developer, Yuga Labs, recently held a digital parcels sale based on their metaverse. Labs have had its virtual project launched for months, with which it has raised some $320M, making it the most relevant offering in the NFT market. Even the project has been so shocking that its demand causes gas rates on Ethereum to rise.
Virtual commerce is waiting for the most relevant NFT project of the moment that promises to expand like never towards the metaverse. Users bought these digital parcels with ApeCoin, a native token that fans can purchase land and other elements within the virtual universe.
Labs Yuga’s Metaverse is the most relevant in the virtual market
Although the metaverse topic has been discussed for a long time, it was not until last year that Mark Zuckerberg, CEO of Facebook, announced his participation in the project, which generated popularity that has not ceased. Among the greatest exponents of the virtual universe is Labs Yuga, who has created a promising metaverse helped by his team.
Labs clarify that in its metaverse called “Otherside,” users used the ApeCoin token to purchase its 55000 digital lands. This announcement caused crypto to increase its value and demand among the highest fans.
Each Otherside land was priced at $5,800.
Experts in the NFT market talk about Otherdeed and ApeCoin
The head of the crypto company DeFiner, Wu Jason, believes that the Otherside project has generated chaos in the Ethereum network, referring to sales’ being so high it caused the increase in gas rates. Wu adds that ApeCoin transactions drive high demand, something he has never seen in other NFT projects.
According to reports, before the metaverse was launched, Labs wanted to open its sales in a Dutch scheme to avoid the congested Ethereum network. However, the plan did not work, forcing Labs to launch their ApeCoin tokens for Otherside on the world-renowned technology network. In the announcement about Otherside, the programmer apologizes for the congestion of operations in Ethereum and opens space for creating a dedicated blockchain.
Labs indicate there are limits on purchases in Otherside to prevent the problem from becoming bigger and bigger. The 55000 virtual lands were sold only last Saturday, and Labs maintains high expectations about the following auctions. The metaverse is expected to maintain its line of success and its manager complies with providing the support it needs.