ApeCoin Adds Polygon Support After NFT Minting Incident

ApeCoin Adds Polygon Support

ApeCoin has integrated with Polygon following the Yuga Lab’s ‘Otherdeed’ NFT land launch that was marred with high Ethereum gas fees.

Yuga Labs developers launched the minting of the Bored Ape Yacht Club NFT collection on Sunday for ‘Otherdeed’ NFT land.

The community received the NFT drop, making about $300 million in sales. The launch was met with congestion that caused the ETH gas fees to rise to 5 ETH.

The community members who did not manage to mint the NFTs despite paying the ether fees expressed their displeasure on Twitter, threatening to withdraw their APE tokens.

The events caused widespread speculation that the failure was staged to showcase the problem and announce the plan for a new chain for APE. ApeCoin DAO has since denied the claim.

The launch also caused the burning of 55,817.39 ETH, equivalent to $158 million, placing Otherdeed NFT at a new all-time high of 70,000 ETH.

Source: Twitter 

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