Business

Yuga Labs’ Otherdeeds NFT mint is sparking a community backlash

blank

The aftermath of Otherdeeds’ Nonfungible Token (NFT) Mint is rife with angry community members taking to Twitter to voice their grievances over Yuga Labs’ handling of the event.

The launch of Otherdeeds NFTs received massive support from the community, sale off almost immediately after falling. Due to high demand, the launch greatly inflated Ethereum gas fees, resulting in users having to pay from 2.6 Ether (ETH) up to 5 ETH to complete their transactions.

However, many community members were unhappy with the event. According to Twitter user RandomGuyonct, several users have speculated that the coin was “planned to fail” to allow the group to promote launching its own blockchain, as the team mentioned a chain migration in a tweet about the event.

Aside from that, Twitter user Mark Beylin accused Yuga Labs of “showing their true colors” and stated that he had ended all monkey-related NFT investments. Beylin too warned others assume that the people behind Yuga Labs are “bad actors”.

Some users who failed to complete their transactions claim having lost their ETH in the process. However, Yuga Labs promised refund lost gas fees from the failed transactions.

Twitter user CryptoFinally too claims that Yuga Labs gave better land to members of the Bored Ape Yacht Club (BAYC) than to those who were not members of the group. “Non-BAYCs who want to volunteer paid for far crappy land, BAYCS got the only land worthwhile,” they wrote.

Related: ApeCoin Slips 40% in 3 Days Despite Otherside’s Metaverse Land Sale – Here’s Why

Otherdeed NFT’s decline has also propelled Ethereum’s burn rate to a new all-time high. Data from Glassnode and Data Always showed that nearly 70,000 ETH was burned on the day of minting.

Cointelegraph reached out to Yuga Labs for comments but received no response.