Metaverse and NFT: Controversies erupt during a Yuga Labs operation

The past week has seen the largest NFT sell-off ever. 55,000 plots of the Yuga Labs ode metaverse have been marketed for over $300 million. However, this has given rise to controversy.

A sale that caused controversy

In exchange for a sum of approximately $6,000, a buyer acquired an NFT otherdeed, which authenticated its ownership of a parcel of digital real estate in developer Yuga Labs’ new Otherside gaming environment. The plot of land gives its owners the possibility of create their own games and set up a digital art galleryamong other things.

Selling NFTs for the past week started around 9 p.m. and all NFT stock sold out. sold out in just 3 hours. Meanwhile, gas fees on the Ethereum (ETH) blockchain skyrocketed ($6,000). In addition, there was a strong influx on the network. Therefore, not only several investors could not obtain tokens otherdeedbut in addition they have lost ETH gas fees which were nevertheless considerable.

Many people who were unable to complete their purchase accused Yuga Labs of playing favouritism by favoring certain people to the detriment of others. They also said that the company wants to keep the “best lands for herself or for the owners of NFT Bored Ape Yacht Club.

In recent years, the metaverse sector has experienced strong popularity. What explains this? According to Thomas Perfumo, “the metaverse is still a theme relatively fresh in the cryptocurrency industry “.

“When Facebook rebranded itself as Meta in the second half of 2021, we saw a corresponding rise in the price of fungible assets associated with the metaverse, such as SAND and MANA. Before that, it was not a priority for most market players,” added the professional.

If the metaverse is becoming so popular that it appeals to millions of people around the world, including celebrities like Snopp Dogg, it is mainly because of its advantages: flexibility, flexibility, no limits to the imagination, etc. Besides, the metaverse offers a chance for people to fulfill dreams and escape the confines of the real world.

As the popularity of the metaverse expands, controversies continue to fuel the news. For example, for some investors, large corporations in the metaverse arena show favoritism by favoring some people over others.

Source : Cointelegraph

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Metaverse and NFT: Controversies erupt during a Yuga Labs operation


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