Yuga Labs apologises after sale of virtual land overwhelms Ethereum
by Alex Hern from Technology | The Guardian on (#5YTA7)
Cryptocurrency smothered by congestion due to high demand for plots of land in multiplayer game Otherside
A multi-billion dollar cryptocurrency company has apologised to users after its sale of metaverse land" sparked a frenzy that temporarily overwhelmed the Ethereum cryptocurrency.
Yuga Labs, the company behind the Bored Ape NFTs beloved of Jimmy Fallon and Paris Hilton, announced the sale of its latest tokens - representing plots of land in a forthcoming multiplayer game called Otherside - on Sunday. A total of 55,000 plots were sold, at a flat price of 305 ApeCoin (a currency created by Yuga), which is worth about 4,500 at current exchange rates.
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