On Saturday, a new NFT collection was launched and the demand for the project broke the Ethereum blockchain.
The new NFT collection is provided by the renowned developer Yuga Labs, known for creating the very popular Bored Ape YachtClub NFT project. Yuga Labs has released a new NFT collection featuring 100,000 land certificates for the next Bored Ape Metaverse.other side“Because .BoredApe is the most popular NFT, land certificate drops from Yuga Labs were expected to be of great interest, but soon developers and users looking to buy a parcel are Ethereum. I found out that there is a very high demand for blockchain.
Users trying to buy land faced exorbitant gas charges, forcing many users to pay thousands of dollars for failed transactions. especially, CNET report Ethereum Network is “Unstable for hours“Following the launch of the NFT collection, Yuga Labs used a Twitter account to announce the developers.”I’m sorry to turn off the Ethereum light for a while“.
For strangers, you will be charged for gas to execute transactions on the Ethereum network. This is basically a variable charge determined by the burden on the network while executing the transaction. Gas prices typically range from $ 10 to $ 100, but rose to $ 7,000 during the decline in NFTs. According to CNET, one user spent $ 44,000 on gas to buy two plots of otherside land, costing $ 5,846 per plot of land.