The Otherside metacomplex project sold out all available 55,000 NFT Otherdeed land plots within three hours of the start of public bidding.
The remaining 45,000 NFTs are included in the giveaway for existing token holders from the Bored Ape Yacht Club and Mutant Ape Yacht Club collections.
The price per token was 305 ApeCoin (APE). In total, the company managed to raise 16.7 million APEs ($317 million). This was a record public offering by NFT.
Users had to go through mandatory KYC verification in order to buy the tokens.
According to Etherscan, the sale of Otherdeed tokens caused the Ethereum blockchain gas fee to skyrocket to 8,000 GWEI.
“Clearly, ApeCoin needs to move to its own blockchain to scale properly. We urge DAO to start thinking in that direction,” Yuga Labs said.
The development team has promised to offset the gas costs.