Bored Ape Yacht Club has broken the blockchain

The new NFT collection from the popular group Bored Ape Yacht Club went online last weekend. This was so popular that its blockchain was broken. You buy these NFTs with Ethereum and they all hit that crypto so hard the blockchain can no longer handle it.

Bored Monkeys Yacht Club

Saturday night it happened: the launch of the new Bored Ape Yacht Club non-fungible tokens. This time it was mostly a sneak preview of the metaverse being built by the folks behind the monkeys, Yuga Labs. The NFTs were 100,000 land permits for that metaverse, which is called Otherside. Everyone wanted it and that caused Ethereum to shake to its very foundations.

While that worked great for the people behind Bored Ape Yacht Club, it’s less fun for many people who had problems with their Ethereum transactions. Some people have invested thousands of dollars in transaction fees, but those transactions never got off the ground. For hours it was not possible to use Ethereum, because there were so many people working on it at the same time that the blockchain could no longer handle the workload.

broken block chain

Bales, because it’s not the first time last week that Bored Ape was less positive in the news. Earlier that week there was a hack and many people together lost millions of euros. In short, the reputation of the blockchain does not improve due to all the activities surrounding this popular NFT. Blockchain should run like a train, but on the other hand: even an extreme amount of computing power has a limit, of course.

The hype on Otherside is huge, as is the hype around the monkeys at the Bored Ape Yacht Club. The first we saw of him also looks very good. The folks at Yuga Labs also have a lot of money to invest, though selling 200,000 pieces of land will also help. In any case, the preview you gave looks beautiful:

monopoly for adults

That land is seen as a good investment. Think of it like Monopoly. Once you have placed a hotel on the Kalverstraat, it will be very expensive for people to land on your square. People like to have land on Otherside, because if there are people who want to open a store on it, for example, you can make a lot of money as an owner, just like in the real world with people who own and rent. real estate.

For Bored Ape Yacht Club, it’s not just about sales: It sold 100,000 pieces of land on Saturday and will add another 100,000 in the coming months for people who make a significant contribution to the development of Otherside. On Saturday, 55,000 plots were sold, because as is known in the NFT world, a lot is also given away. 45,000 pieces of land were given out on Saturday to people who already own a Bored Ape or a Mutant Ape: these are previous NFTs from the Bored Ape Yacht Club.

The most famous NFT collection

Now that monkey club is also the most famous NFT collection out there. Now it costs about 350,000 euros to become a member of the club, because it is only done by buying a non-fungible token from such a monkey. So you don’t necessarily just get a picture of a monkey and your proof of ownership, you also get access to a club where you can sometimes get rich just by being a member. You see it now with the NFTs being given away for Otherside – that’s not an uncommon way to work at the Bored Ape Yacht Club.

By the way, a piece of land in Otherside wasn’t as expensive as the average monkey. You paid about 5,000 euros for it. Did you not arrive on time and still wanted to buy a piece of land at OpenSea? Then you are much worse: now they cost around 20,000 euros (!).

Laura Jenny

When he’s not writing, he’s traveling through the wonderful world of entertainment or somewhere interesting in the real world. Mario is the man of his life, …

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