Soon an ApeCoins Avalanche? – Launched in February 2021, Yuga Labs has become the most influential company in the ecosystem NFT. Indeed, it is the origin of 3 sets the most traded, namely Bored Apes, Mutant Apes and Otherdeeds virtual lands. Originally launched on Ethereum, all these collections and the ApeCoin could well set sail on the blockchain Avalanche.
Launch of Otherdeeds: Ethereum questioned
On April 30, Yuga Labs has put on sale a new collection of NFTs called “ Otherdeeds ». In fact, these are virtual plots of land, which will make up the Otherside metaverse currently in development.
As usual, this sale took place on the blockchain Ethereum (ETH), already hosting the various Yuga Labs collections. However, the demand was such that the sale pushed the network to its limits. For once, this led to a insane increase transaction fees.
Within a few hours, the transaction fees on Ethereum have climbed until reaching 8,000 gwei. Transaction fees were such that some buyers found themselves paying between $4,000 and $10,000 costs of mint.
Following the chaos generated by the sale, Yuga Labs even went so far as reimburse the costs users who have seen their transactions fail due to network contions.
This misadventure generated many rumors on a potential desire to migrate Yuga Labs projects to another blockchain. After having them refutedYuga Labs has suddenly changed its tone.
Indeed, on May 1, Yuga Labs prompted the DAO controlling ApeCoin to consider migrating to another blockchain than Ethereum.
“ It seems quite clear that ApeCoin will need to migrate to its own blockchain in order to scale properly. We would like to encourage the DAO to start thinking in this direction. »
Published by Yuga Labs
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Avalanche: ApeCoin’s base?
Following this announcement, most layer 1 blockchains are trying to attract Yuga Labs and its multi-billion dollar ecosystem.
On May 24, the blockchain Avalanche struck hard by proposing that the metaverse other side developed by Yuga Labs is based on a Avalanche Subnet.
“ We propose that the ApeCoin DAO launch Otherside on an Avalanche Subnet to support future community growth through fast transaction processing, higher throughput, greater evolution and lower gas costs. »
The comments under the Avalanche proposal do not allow to identify a clear opinion from the community. Indeed, some Internet users seem in favor of the launch of Otherside on an Avalanche Subnet. At the same time, others want Yuga Labs to stay in the Ethereum ecosystem, promoting a migration to a second-layer solution.
For their part, neither Yuga Labs nor the DAO of ApeCoin have, for the moment, taken part in the debate.
As if the BAYC, MAYC and other iconic Yuga Labs collections weren’t enough, the studio recently acquired the intellectual property collections CryptoPunks and Meebits.
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