The Yuga Labs digital land sale this weekend, a mass-mint of new NFTs that temporarily clogged the Ethereum blockchain, is not just making money for the company behind the new set of images that may figure in a future digital service. Other parties are also doing rather well from the effort.
News coverage from the “Otherdeeds” mint points to massive volumes. Decrypt wrote that “OpenSea set a new one-day record for Ethereum NFT trading on Sunday with $476 million,” with the publication adding that “much” of the sum came from Otherdeed activity.
The rush of activity to collect what many hope will be incredibly valuable pieces of digital land — cartoon images of land, in effect, with slight variations — was immensely profitable for Yuga Labs, which took in an estimated $320 million from the event. The overall pace of activity driven by the mint was in fact so large that it led to a simply massive amount of ethe …
