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BAYC’s Otherdeeds Land Mint raises etherium gas prices, etherscan crashes

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Remember the time when BAYC said that there would be no Dutch auction to sell otherdeeds land? According to the team, the purpose was to avoid a gas war during the mint. Apparently, the opposite happened when the mining took place on April 30 at 9 pm ET.

When the 1st wave of sales begins, the price of etherium gas rises almost instantly through the roof. Guess what? Many fans have reported that they have had to pay at least 2.26 ETH per gas (about $ 6,200 at that time) To mint 2 plots of other work. That’s about the same as a plot of land worth $ 6,621 two days ago.

Gas tape 2.26 ETH? !! Okay, this board app can’t take it either. Credit: Yug Labs.

BAYC fans eat bananas after paying high Ethereum gas fees on Mint Otherdeeds NFTs land

One thing is for sure, the sale of Adardids land was a huge success for BAYC. According to Watcher Guru, BAYC pocketed $ 245 million in revenue from high-profile sales 2 hours after launch. That’s more than half of the estimated $ 455 million in revenue if it has to go through both rounds of land sales this year.

Although fans had to pay high gas fees for the mint, many of them were grateful that their mint was a success. “2.7 ETH in gas was the least painful transaction I have ever made,” said Gruossome, a fan who successfully created 2 otherdeed plots in the 1st wave of sales.

In fact, landowners have already listed their other works for sale on OpenSea. Currently, the collection is being traded at 7.89 ETH (about $ 21,900 per plot). In view of the above scenario, landowners may be sitting at 125% profit on the value of the dollar. Not a bad trade even if you have a high gas fee thorn out right?

What can we do to avoid high gas fees at future NFT mills in Ethereum?

Otherdeeds দেখেiamarkdev, co-founder of NFT World, has some suggestions, seeing the high gas prices during the NFT minutes. One of them is that the devs of Yuga Labs could have avoided using ERC721Enumerable in the smart deal. According to him, this would significantly reduce gas consumption by 60% to 70% per transaction.

In addition, @iamarkdev also offers to use the ERC721A agreement to help reduce gas fees. This is because, in an ERC721A contract, you can mint multiple NFT at the same cost as a single NFT mint.

What were Yuga Labs’ comments about the high gas fees?

Of course, Yug Labs acknowledged that the team did not expect such overwhelming demand for the Ordnance NFT until they saw the gas fee skyrocket through the roof. In fact, there were moments when the etherscan crashed due to the large size of the mint.

In fact, the team commented that ApeCoin may be needed Moved to his own blockchain, To scale properly. On top of that, the team would like to “encourage” the DAO to consider this proposal.

Finally, the team is also aware that some users have encountered failed transactions during the mint. If you are one of the victims, you can contact Yuga Labs to get your gas fee refunded.

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