Unchained Should Yuga Labs Have Charged More For Its Otherside NFTs? - Ep.349
May 6, 2022
Eric Golden, host of Web3 Breakdowns and owner of Bored Ape Yacht Club NFT #7560, dives into the whirlwind of the Otherdeed NFT drop, which burned over $150 million Ethereum. He discusses the controversial choice of a fixed minting price over a Dutch auction and the chaotic KYC requirements. Golden shares his insights on the gas war that ensued and critiques Yuga Labs' communication and responses. He believes Otherside doesn't need its own chain and is optimistic about Yuga Labs' plans for a metaverse game, amidst the buzz surrounding Kodas and their high trading values.
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Episode notes
Gas War on Otherdeed Mint
- Otherdeed mint saw massive demand exceeding supply, leading to a gas war.
- Users paid high gas fees to prioritize their transactions, exceeding the NFT price itself.
KYC Requirement for Otherdeed
- Yuga Labs required KYC for the Otherdeed mint, unlike previous projects.
- This raised concerns and speculation within the Web3 community, especially regarding identity in Web3.
Fixed Price vs. Dutch Auction
- Yuga Labs switched from a Dutch auction to a fixed price for Otherdeed mint.
- This fueled demand and gas wars as users competed to secure limited NFTs.
