Yuga Labs Hit With Gas Fee Backlash…Again

By

2 weeks agoMon Feb 12 2024 09:24:23

Yuga-Labs-Hit-With-Gas-Fee-Backlash

Reading Time: 2 minutes

  • Yuga Labs faced criticism last week for high NFT minting fees in its Otherside metaverse
  • Users were disappointed to find that their ‘free’ gift came with a huge minting fee
  • The issue pertains to the Otherside still relying on Ethereum’s mainnet

Yuga Labs, the owner Bored Ape Yacht Club and CryptoPunks NFT collections, encountered criticism last week over high fees associated with minting NFTs in its Otherside metaverse. The controversy erupted when Yuga announced that players completing a mission in the Legends of the Mara game on Otherside could claim on-chain collectibles called “Loot” as rewards, only to find encounter excessive minting fees on the Ethereum blockchain. Yuga Labs has received criticism in the past over such matters, particularly when Otherside launched in May 2022.

When ‘Free’ Isn’t Free

Legends of the Mara players were taken aback by the huge gas fees incurred during the NFT, particularly since “Loot” was initially promoted as a free perk, leading to  Yuga Labs’ Chief Gaming Officer, Spencer Tucker, announcing that affected users could claim a free in-game perk called “Catalyst” as compensation.

However, this gesture failed to appease players, who argued that it didn’t tackle the underlying issues with Otherside’s reliance on Ethereum’s expensive mainnet for on-chain transactions when sidechains such as Optimism and Polygon are far cheaper alternatives and equally as reliable.

Will Yuga Labs Consider a Move Away?

In May 2022, a similar issue arose during the minting of virtual land deeds in Otherside, resulting in substantial transaction costs totaling $157 million and widespread frustration among users. This led to a community vote to move away from Ethereum, but the community voted to remain, leading to the issue raising its head again.

Following further backlash, Yuga’s co-founder, Greg Solano, announced the abandonment of the free Catalyst giveaway and committed to fully covering and reimbursing all gas fees incurred by Otherside players during NFT minting.

Concerns persist, however, among Otherside players regarding the platform’s dependence on Ethereum and its failure to explore more cost-effective alternatives, which surely now have to be strongly considered to avoid a repeat.

Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here

Related Posts
Saylor Sounds Alarm: MicroStrategy CEO Battles Deepfake YouTube Epidemic thumbnail

Saylor Sounds Alarm: MicroStrategy CEO Battles Deepfake YouTube Epidemic

A new form of cryptocurrency scam is proliferating across YouTube and social media using advanced artificial intelligence to impersonate and defraud victims. Security teams are struggling to keep up with the epidemic of deepfake crypto scam videos targeting high-profile figures like MicroStrategy’s Michael Saylor. Keypoints Michael Saylor’s security team takes down around 80 fake AI-generated
Read More
Elon Musk says Twitter is 'world's largest non-profit' thumbnail

Elon Musk says Twitter is ‘world’s largest non-profit’

Elon Musk bought Twitter last year. Photo: AFP / Olivier DOULIERY Tesla CEO Elon Musk, who purchased the microblogging platform Twitter last year, has now claimed that he has not been making any money from it.Musk made the revelation in a Twitter post, which has now gone viral on the internet. "Say what you want
Read More
P2E game Nyan Heroes aims to save 1 billion sheltered cats thumbnail

P2E game Nyan Heroes aims to save 1 billion sheltered cats

Cat-themed play-to-earn (P2E) nonfungible token (NFT) game Nyan Heroes is aiming to save 1 billion cats from euthanization in animal shelters across the United States.Nyan Heroes is an upcoming NFT battle royal shooter-style game built on the Solana blockchain that will enable players to compete with each other using NFTs depicting animated cats that are…
Read More
Cuál era la relación de la hermana de los Nule con Mauricio Leal thumbnail

Cuál era la relación de la hermana de los Nule con Mauricio Leal

Mauricio Leal peluquería.Noticias RCN POR: enero 20 de 2022 - 12:38 p. m. 2022-01-20 2022-01-20 De manera paralela a la investigación para esclarecer el homicidio del estilista Mauricio Leal y su mamá se adelanta un proceso judicial por presunto lavado de activos y enriquecimiento ilícito.La Fiscalía verifica los pagos que recibió Leal en los últimos dos…
Read More
Most Americans are willing to pay more at the pump for Ukraine thumbnail

Most Americans are willing to pay more at the pump for Ukraine

US president Joe Biden banned Russian oil imports on March 8 in response to Russia’s Ukraine invasion. The move will likely push gasoline prices to new highs, but most Americans are willing to pay them, according to a new Quinnipiac University national poll.Overall, 71% of Americans supported a ban on Russian oil even if it…
Read More
Index Of News
Total
0
Share