The highest amount lost in gas fees was 5.369 ETH or roughly $16,000
Yuga Labs issued a refund of almost $5 million to customers’ to reimburse gas fees from failed transactions caused by the Otherside NFT land sale on April 30. Notably, a failed transaction resulted in no minting, leaving many unhappy customers who did not expect gas to reach such levels.
The Otherside land sale created unprecedented levels of hype in the NFT community, and therefore Yuga Labs created a KYC-gated sale. Despite the precautions, network congestion on Ethereum became so bad that people were paying upto $11,000 for one transaction. Some of these transactions failed due to network congestion, leaving customers empty-handed. Thankfully Yuga Labs stepped up to refund them. However, there are some criteria for being eligible.
Summary
- Yuga Labs Otherdeeds NFT land sale pushed Ethereum gas fees through the roof and caused 14,000 failed transactions, resulting in a loss of almost $5 million…
