Rare Otherside Metaverse Land NFT Sells For 625 ETH on X2Y2

Otherdeed #59906 is the eighth rarest land plot from Yuga Labs’ Otherside metaverse project.
Image source: Yuga Labs

Quick take:

  • Otherdeed #59906 sold for a record $1.5 million on X2Y2 on Sunday.
  • The buyer of the virtual land is an avid NFT collector.
  • Otherdeeds is the highest-grossing NFT project to date.

Otherdeed #59906 sold for a record 625 ETH ($1.5 million) on new NFT marketplace X2Y2 on Sunday. The NFT is the eighth rarest land plot on Yuga Labs’ Otherside metaverse.

“N0b0dy.eth”, an avid NFT collector, bought the land plot from “brickandmorty.eth” who made a profit of $1.49 million, having spent 305 ApeCoin ($6000) to mint the NFT. 

According to data by “sealaunch” on Dune Analytics, the biggest volume of Otherdeeds secondary sales by platform is on OpenSea, which on April 30 announced that it is accepting ApeCoin for buying Otherside NFT. The fact that this record-breaking sale of a rare Otherdeed happened on two-month-old NFT marketplace X2Y2 comes as a surprise.

Yuga Labs began its much-anticipated Otherside NFT mint on Apr 30 and sold 55,000 Otherdeeds, the metaverse land NFTs, in three hours. The company generated more than $317 million from the NFT mint. Otherdeeds is the highest-grossing NFT project to date.

However, Yuga Labs came under fire as the high demand for the Otherdeeds resulted in a gas war that sent gas prices soaring to thousands of dollars per transaction. Over 64,000 ETH ($180 million) was burnt on gas fees during the mint.

Besides the initial 55,000 land plots available for minting, another 45,000 were unveiled. 10,000 were reserved for Bored Ape Yacht Club (BAYC) holders; 20,000 for Mutant Ape Yacht Club (MAYC) holders; and 15,000 for Yuga Labs and other project developers involved in creating Otherside. Both BAYC and MAYC holders can claim the same number of Otherdeeds as the number of Bored Apes they own.

A total of 200,000 Otherdeeds are in supply. The remaining 100,000 will be rewarded to Otherdeed holders who contribute to the development of Otherside.

According to The Block, the Otherdeed NFTs generated $833 million in primary and secondary sales within days of its launch.

On May 7, Otherdeed ranked second for the number of NFTs sold overall over the last seven days, according to X2Y2, while over 31.2K sales of ENS domains were sold from May 1 to May 7, taking the top spot for most NFTs sold. Otherdeed currently holds the top spot for NFT sales by seven-day volume.

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