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How much money was wasted on bored ape's NFT sale?

One cryptocurrency advocate noticed that from just the Bored Ape's NFT sale, approximately $100 million were wasted during the first hour of the "land" sale in gas fees alone. As mentioned earlier, transactions can often fail when the Ethereum network is facing unusually high traffic.

Is the bored apes Yacht Club selling virtual land?

The creator of the popular Bored Apes Yacht Club collection of NFTs launched a sale of virtual land. Eddie van der Walt reports. Source: Bloomberg

What is a gas fee on Ethereum?

A gas fee is the cost associated with a transaction on the Ethereum blockchain. Fees typically increase as the network gets more congested because it becomes more work to process a transaction. Such a large volume of transactions during the Otherdeed mint caused gas fees to soar.

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