By: Economic & Finance Report
Saturday, April 30, 2022, Yuga Labs (creator of Bored Apes Yacht Club) launched their sale of their metaverse land. The company was able to attain $320 million in capital/funding from their initial sale. The $320 million was in cryptocurrency. It is being heralded the biggest offering of this magnitude.
The magnitude caused Ethereum to shut down and have soaring prices. People were trying to attian $55,000 worth of parcel deeds. Each of the plots of virtual land, cost a buyer approx. $6k ($6,000) to purchase. The Yuga Labs virtual land sale caused one of the highest spikes of transaction fee purchase on the Ethereum network and in cryptocurrency history. -SB
Image Source: Yahoo Finance