Yuga Labs has finally announced the Otherside land price and each plot will be selling at 305 $APE. Deemed as Otherdeeds, there will be a total of 55k land plots for purchase by KYC’d wallets in this round. In fact, there will be no Dutch Auction in the sale. On that note, the team has proposed another form of minting mechanics to combat gas wars.
Latest updates on the Otherside land sales and mint details
As tweeted by @OthersideMeta, “Dutch auctions are actually bulls**t”. And we couldn’t agree more. On top of that, the Otherside land NFTs now called Otherdeeds will be on sale for a flat price of 305 APEcoin (around $6,621 at the moment). Not to mention that there are only 55k plots of land for sale this round.
These few pieces of info are slightly different than those from the leaked Yuga Labs pitch deck. According to the pitch deck, there were supposed to be 100k plots of land in Otherside for sale in the first round, with each plot of land selling at an estimated price of 1 ETH (at around $2910). Based on the latest announcement, Otherdeeds will be 2.3x more expensive in terms of dollar value.
Other than that, Yuga Labs has ditched the Dutch Auction mechanism for the Otherside land sale. Why so? That’s because the team does not believe that this method can help negate gas wars in highly-anticipated mints. Instead, the team will conduct the NFT sale in waves.
The NFT sale will take place in waves
How it works is that during Wave 1, each KYC’d wallet can only mint up to 2 Otherdeed NFTs. Take note that this is per wallet basis, not per transaction. Once the gas returns to a reasonable level, the team will kickstart Wave 2, where each KYC’d wallet can mint up to 4 NFTs. This goes on in subsequent waves until all of the Otherside land plots are sold out.
According to Yuga Labs, this should help reduce the occurrence of gas wars. Also, the team will be updating the increase in the per-wallet limit on Otherside’s official Twitter and Discord channels tomorrow. So if you’re one of the anons trying to grab some land plots in Otherside, make sure you keep an eye out for any official updates.
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