Just when you thought ridiculous Ethereum gas fees are kind of thing from the past, the network makes a sharp U-turn. This time an average fee surpassed the $450 mark in a moment, making it impossible to buy low-costed non-fungible tokens (NFTs).
However, that surge didn't stop enthusiasts from buying digital collectibles as the network registered some really weird deals. This time, someone paid over $3,870 in fees to buy a $275 NFT from the Goat Soup by Andy Milonakis collection.
You've read it right. Someone spent almost $4,000 to buy a pixelized picture of a goat. And, apparently, it wasn't the only case as many other "lucky guys" also spent thousands of dollars for relatively cheap NFTs.Although there's no evidence of what could've led to this pump, some say the long-awaited Bored Ape Yacht Club "Otherside" metaverse land sale might have affected fees as their rate depends on demand. Over the weekend, the Otherside NFT collection registered almost 61,000 ETH of trading volume (over $170 million).
According to reports, Yuga Labs, the firm behind Bored Apes Yacht Club, is set to sell over $300 million worth of virtual land plots through... you guessed it — APE.
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