Yuga Labs to reimburse users for transaction fees on failed Otherdeed NFT purchases.
Yuga Labs, the visionary behind the Bored Ape Yacht Club and the Otherside world, is refunding users who faced financial losses during unsuccessful attempts to mint Otherdeed NFTs amid a gas war frenzy.
Over $157 million in Ethereum was burned This tumultuous minting event involved 100,000 Otherdeed NFTs, sparking outrage among the NFT community as many faced hefty gas fees without successfully minting, with some even seeing gas prices surpass the NFT price itself (305 ApeCoin, approximately $5,800).
Following the disruptions during the mint, Yuga Labs pledged to refund gas fees to affected users. As reported, an impressive total of over 90.5 ETH (around $250,000) has already been reimbursed. Etherscan We've processed refunds for gas fees to all users affected by transaction failures caused by network issues during the mint. The fees have been credited back to the wallets used for the initial transactions. Here’s a guide on locating your refund… 🧵
A sharp decline of around 40% followed the fruitless mint and the dissatisfaction directed at Yuga Labs. record – $467 million in trading volume on May 1.
Yuga Labs has apologized We’re offering users with KYC-verified wallets a renewed opportunity to mint Otherside’s land without needing to battle against crypto whales that inflated gas fees during the initial mint.
The ApeCoin price dropped $34 million is currently secured in the AkuDreams contract, and users are in the process of receiving their refunds.
Some unhappy BAYC fans started a petition Improbable gives fans a sneak peek into the forthcoming Otherside experience.
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