Did Yuga labs clog the Ethereum mainnet?

Source: Yuga Labs. Yuga Labs, the startup behind the Bored Ape Yacht Club (BAYC) that's valued at $4 billion, had its highly anticipated Otherside metaverse mint on Saturday night, clogging the Ethereum mainnet and sending gas prices to shocking heights.

What happened to Yuga labs?

Yuga Labs, the web3 company behind the Bored Ape Yacht Club, disrupted the entire Ethereum blockchain as a flood of users rushed to purchase NFTs representing virtual plots of land in its upcoming metaverse project, Otherside.

What is Yuga labs' Otherside?

In March, Yuga Labs raised $450 million in funding to build the Otherside, a decentralized metaverse with elements of gamification. While it’s supposed to encompass Yuga Lab’s NFT brands, such as the newly-acquired CryptoPunks and Meebits, the company has goals to extend support to NFTs from other entities.

How much money has Yuga Labs made from 'otherdeed' NFTS?

In less than 24 hours, Yuga Labs has generated more than $561 million from just the Otherside’s “Otherdeed” NFT sales. NFTs are unique blockchain tokens that signify ownership of a digital or physical asset. In the case of Otherdeeds, each is meant to be “the key to claiming land in Otherside,” Yuga Labs’ upcoming metaverse game.