On Saturday, April 30th, Yuga Labs, the creator of the wildly popular Bored Apes Yacht Club (BAYC) NFT collection, launched land sales for its metaverse project – the ‘Otherside’.

The Top-Trending Collection of NFTs is Otherdeeds

The sale saw Yuga Labs raise $320 million–the largest amount ever raised via NFT sales, even leading to disruptions on the network and causing gas fees to spike up to $14,000 per transaction.

The sale frenzy has made ‘Otherdeeds‘ the top trending asset across multiple platforms. CoinGecko reports that Otherdeeds is the leader in NFT sales with 19,535 Ethereum (or $55.7 Million) traded within the past 24 hours.

Underwater, Otherdeed owners fall

Although it was recently launched and is a highly-regarded NFT collection, data from the chain suggests that Many Otherdeed NFT users have fallen underwater as a result of falling prices.

Within the last 24 hour, the floor price for Otherdeeds has decreased from 3.99 ETH and as much as 4.21 Ethereum at its peak to 3.39ETH by the time of writing.

Yuga Labs community members that had originally purchased NFTs were unhappy about the difficulties faced during launch.

Flipside

• DappRadar says Otherdeeds continues to be the most traded NFT Collection over the last 24 hour, despite a drop in its price.

Why you should care

Otherdeeds faces a difficult task in regaining trust and excitement among its users due to the current NFT market.

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