Thread by @TraderWisdom

1/ Unless you are living under a rock, you've probably heard about Yuga Labs raising over $300 million in their #NFT sale, but did you know that the mint costed over $150 million in tx fees alone?

I compiled a list of some interesting facts about the sale that'll blow your mind.

2/ Yuga Labs - the creators of #BAYC and #MAYC - have just completed the largest NFT sale in the history of crypto/NFT.

The sale was so large that it crashed etherscan & sparked a never-seen before on-chain gas war.

3/ First, for those who don't know -

Yuga Labs is the company behind $3 billion Bored Ape Yacht Club (BAYC) collection.

But they didn't just stop there;

After BAYC, they launched "Bored Ape Kennel Club (BAKC)" and "Mutant Ape Yacht Club (MAYC)" - both were instant successes.

4/ On March 11, 2022, Yuga Labs expanded its NFT ecosystem by acquiring CryptoPunks and Meebits.

Soon after they launched $APE coin which is currency sitting at ~4B valuation per CoinMarketCap.

Now back to their recent NFT sale of #OtherSide #OtherDeeds

5/ So what exactly is #OtherSide?

OtherSide is a gamified, interoperable metaverse currently being developed by the Yuga Labs.

🔥55K NFTs were available for sale to pre-approved wallets.
💵Max 2 NFTs mints/wallet was allowed.
🎉Each NFT was priced at ~305 APE.

Now some stats

6/ Total ~28,746 users participated in the mint

🎉 ~2492 minted 1 land.
🎁 ~26,254 wallets minted 2 lands
💵 The first #NFT was minted at 14688876 block and last was minted at 14689597

The public sale was over in ~100 minutes and Yuga Labs raised over ~$300M.

7/ ~14,735 TXs failed for various reasons costing ~$4M in wasted gas fees

1⃣ ~10,517 (~71%) TXs failed cz users sent TXs prematurely.

2⃣ ~1748 (~11%) txs failed cz users tried minting either after the sale was over or when there weren't enough NFTs left to mint.

8/ As everyone rushed to mint the #OtherDeed NFT, there was a massive gas war on chain, and gas prices skyrocketed from

~50 GWEI to ~3000 GWEI

in a matter of minutes.

9/ On an average, each user spent over ~$2460 just in GAS fees with some users spending as much as ~$45,000 to mint

e.g. account tanked.eth
paid
~44,408.84 or ~16 ETH
to mint 2 #OtherDeeds #NFTs

etherscan.io/tx/0x426405a3c…

Here's another one -

Spent 7.256 (~20,196.50) to mint

etherscan.io/tx/0x4c4c95502…

10/ You'd be shocked to know that over

~$148,967,324

was paid just in GAS fee to mint these 55K NFTs.

That's ~150M just in the gas fees to mint.

The #OtherDeed collection is now live on OpenSea, having done over 47,200 ETH transactions in just a few hours.

that's ~$132M in transactions generating over ~$3.27M for #OpenSea in tx fees.

opensea.io/collection/oth…