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Jafrin Ahmed
May 5, 2022
by Jafrin Ahmed

Yuga Labs Refunds Gas Fees for Failed BAYC LAND Sale

Yuga labs refunded gas fees otherdeed
Yuga Labs, the company behind the popular NFT collection Bored Ape Yacht Club (BAYC) has refunded the gas fees of everyone who failed to mint an Otherdeed non-fungible token (NFT) because of technical problems.

Failed Gas Fees Returned for Failed Otherdeed NFT Mint

In a Twitter thread, Yuga Labs announced on reimbursing the transaction costs or gas fees to those who were unable to buy digital land on the company's upcoming metaverse, “Otherside,” which netted the company $320 million in sales over the weekend.

“We have refunded gas fees to everyone who made a transaction that failed due to network conditions caused by the mint. The fees have been sent back to the wallets used for the initial transaction,” Yuga Labs said in the thread.

According to data from Etherscan, the company spent a total of 90.57 ETH worth $265,000 at current prices on roughly 640 refunds. The largest individual refund was 2.6 ETH worth roughly $7,500.

Yuga tapped MultiSender to redistribute the funds, a dapp that does not require wallets to interact with or confirm a contract before receiving a payment.

Largest NFT Mint in History

Yuga Labs’ land sale of “Otherdeeds,” metaverse, was the largest NFT mint in history. The highly anticipated mint shook the Ethereum blockchain so bad that it pushed gas fees to record high. Some even paid thousands of dollars for an NFT which they never received.

Following the sale, the company later tweeted last weekend that it was working on refunding money from those with failed transactions.

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Yuga Labs Otherdeed Otherdeed LAND BAYC LAND Otherdeed Metaverse Yuga Labs Refunds Gas Fees
Yuga Labs Refunds Gas Fees for Failed BAYC LAND Sale
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

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