Yuga Labs has finally announced Otherside’s lot price and each lot is selling for $305 APE. A total of 55,000 properties are considered otherdeeds in this round, which can be bought by KYC wallets. In fact, there will be no Dutch auction at the auction. With that in mind, the team proposed a different form of coin mechanic to combat gas wars.
Latest updates on otherside property sales and coinage details
As tweeted by @OthersideMeta, Dutch auctions are actually bulls**t. And we couldn’t agree more. In addition, the Otherside Land NFTs, now called Otherdeeds, will be available for sale at a flat price of 305 APEcoin (currently around $6,621). Not to mention that there are only 55,000 lots (55% of 100,000 lots) for public sale this round.
This bit of information differs slightly from that found in Yuga Labs’ leaked pitch deck. According to the pitch deck, 100,000 lots should be up for sale in Otherside in the first round, and each lot should have an estimated price of 1 ETH (at around $2910). Based on the latest announcement, Otherdeeds will be 2.3 times more expensive in terms of dollar value.
Apart from that, Yuga Labs has abandoned the Dutch auction in the land sale on the Other Side. Why so? That’s because the team doesn’t believe this method can help negate gas wars at highly anticipated mints. Instead, the team will conduct the NFT sale in waves.
The NFT sale happens in waves
How it works is that during wave 1 each KYC wallet can only mint up to 2 Otherdeed NFTs. Note that this is per wallet and not per transaction. Once the gas returns to reasonable levels, the team will launch Wave 2, where each KYC wallet can mint up to 4 NFTs. This continues in successive waves until all the lots on the other side are sold out.
According to Yuga Labs, this should help reduce the occurrence of gas wars. Also, tomorrow the team will update the increase in the per wallet limit on Otherside’s official Twitter and Discord channels. So if you’re one of the anons trying to snag some lots in Otherside, keep an eye out for official updates.