Did Yuga labs clog the Ethereum mainnet?

Source: Yuga Labs. Yuga Labs, the startup behind the Bored Ape Yacht Club (BAYC) that's valued at $4 billion, had its highly anticipated Otherside metaverse mint on Saturday night, clogging the Ethereum mainnet and sending gas prices to shocking heights.

Is Otherside a Metaverse?

Now, it’s branching out into the virtual world, with the launch of Otherside, a metaverse platform from BAYC developers Yuga Labs. What is Bored Ape Yacht Club? Bored Ape Yacht Club (BAYC) is a collection of 10,000 ape-themed NFTs with unique traits and characteristics.

What is Yuga labs' Otherside?

In March, Yuga Labs raised $450 million in funding to build the Otherside, a decentralized metaverse with elements of gamification. While it’s supposed to encompass Yuga Lab’s NFT brands, such as the newly-acquired CryptoPunks and Meebits, the company has goals to extend support to NFTs from other entities.

How does Ethereum work?

Minting a token or making a transaction on Ethereum requires token creators or traders to pay a fee to those that order transactions on the network. Transaction fees go higher when the network becomes congested given more fees are needed to prioritize a transaction.