$320 million of OtherDeeds for Buyers NFT sales were underwater.
Credit: Yuga Labs
Many initial purchasers of OtherDeeds, the virtual land that provoked a buying frenzy this past weekend and led to elevated transaction fees
Credit: Yuga Labs
Yuga Labs, creator of popular Bored Apes Yacht Club collection of nonfungible tokens, helped raise approximately $320 million
Credit: Yuga Labs
Each buyer paid approximately $5,800 per NFT, plus additional amounts ranging from $6,000 in transaction costs or gas fees to 4.21 Ether at current valuation levels.
Credit: Yuga Labs
Buyers, in the past, could possibly spend as few as 3.6 ether for these NFTs on OpenSea, the world's leading NFT exchange.
Credit: Yuga Labs
Many possible buyers of NFTs selling their digital goods at that price could lose $1,700 per transaction.
Credit: Yuga Labs
Trading volume for OtherDeeds is down 68% since 6 may 2022 compared to the previous day, when it accounted for the most trade volumes
Credit: Yuga Labs
A certain plot of land is an Other deed. Some parcels consist of mountains and brooks, whereas others appear to be composed of gems.
Credit: Yuga Labs
The land will be used moderately in the upcoming Otherside metaverse game.
Credit: Yuga Labs