Selling NFTs could cost you $1,700 per transaction
After the initial exhilaration, many owners of Otherdeeds, the virtual land that spurred last week’s purchasing frenzy and sent Ethereum transaction costs surging, have found themselves submerged.
Yuga Labs assisted in the $320 million auctions of Ethereum-based NFT Otherdeeds on Saturday, making it the largest of its kind.
Otherdeeds trading volume is down 68% from the previous day
At current rates, each buyer paid $5,800 for the NFT plus $600 in transaction expenses or gas fees, for a total of about 4.21 ether.
“I believe Otherdeeds’ sale was unsuccessful, resulting in a negative reaction from users. It will be interesting to see if he can regain people’s trust and passion, “said Aaron Brown, a crypto investor.
Despite becoming the best-selling NFT collection in 24 hours, Otherdeeds’ trading volume fell 68 percent on Tuesday, according to DappRadar, and the number of merchants was half.
Each otherdeed gives you a piece of land with mountains and streams, while others are made up of gem-like stones. Earth is expected to have a role in the future Otherside metaverse.