{"id":444262,"date":"2022-05-09T18:55:07","date_gmt":"2022-05-09T15:55:07","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/largest-nft-mint-ever-making-sense-of-yuga-labs-virtual-land-bonanza\/"},"modified":"2022-05-09T18:55:07","modified_gmt":"2022-05-09T15:55:07","slug":"largest-nft-mint-ever-making-sense-of-yuga-labs-virtual-land-bonanza","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/largest-nft-mint-ever-making-sense-of-yuga-labs-virtual-land-bonanza\/","title":{"rendered":"# Largest NFT mint ever: Making sense of Yuga Lab\u2019s \u2018virtual\u2019 land bonanza"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bf288f2e3a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bf288f2e3a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/largest-nft-mint-ever-making-sense-of-yuga-labs-virtual-land-bonanza\/#%E2%80%9D_Largest_NFT_mint_ever_Making_sense_of_Yuga_Labs_%E2%80%98virtual_land_bonanza_%E2%80%9C\" >&#8221; Largest NFT mint ever: Making sense of Yuga Lab\u2019s \u2018virtual\u2019 land bonanza &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/largest-nft-mint-ever-making-sense-of-yuga-labs-virtual-land-bonanza\/#The_Metaverse_shines_brightly\" >The Metaverse shines brightly<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/largest-nft-mint-ever-making-sense-of-yuga-labs-virtual-land-bonanza\/#Is_a_bubble_forming\" >Is a bubble forming?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/largest-nft-mint-ever-making-sense-of-yuga-labs-virtual-land-bonanza\/#Why_is_Ethereum_gas_so_expensive\" >Why is Ethereum gas so expensive?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/largest-nft-mint-ever-making-sense-of-yuga-labs-virtual-land-bonanza\/#Leaving_a_bad_taste\" >Leaving a bad taste<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/largest-nft-mint-ever-making-sense-of-yuga-labs-virtual-land-bonanza\/#A_betrayal_of_cryptos_roots\" >A betrayal of crypto\u2019s roots?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Largest_NFT_mint_ever_Making_sense_of_Yuga_Labs_%E2%80%98virtual_land_bonanza_%E2%80%9C\"><\/span>&#8221; Largest NFT mint ever: Making sense of Yuga Lab\u2019s \u2018virtual\u2019 land bonanza &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Last week, 55,000 parcels of \u201cvirtual land\u201d were sold on the Ethereum blockchain for more than $300 million, the largest nonfungible token (NFT) mint ever. It wasn\u2019t without controversy.\u00a0<\/p>\n<p>In return for shelling out close to $6,000, a purchaser received an Otherdeed NFT, which authenticates that buyer\u2019s ownership of a patch of digital real estate in developer Yuga Labs\u2019 new Otherside <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> environment. <\/p>\n<p>What can you do with a plot of virtual ground? Well, you can develop your own online games on it or build a digital art gallery, among other things. Moreover, you might expect a lot of online traffic driving your way because the Otherside \u201cworld\u201d is an extension of Yuga\u2019s popular Bored Ape Yacht Club (BAYC) NFT project. <\/p>\n<p>The sale began at 9:00 pm EDT on April 30, and the NFTs were sold out in about three hours. During that time, gas fees on the Ethereum blockchain soared \u2014 with eager customers sometimes needing thousands of dollars to complete a single transaction. That\u2019s above and beyond the cost of the land parcel. Hundreds of investors not only failed to secure an Otherdeed token, but they also lost their Ether (ETH) gas fees as well. The Ethereum blockchain even went dark for a time.<\/p>\n<p>Some charged Yuga Labs with favoritism in the process, saying, for instance, it had saved all the good \u201cland\u201d for itself or existing owners of Bored Ape Yacht Club NFTs. <\/p>\n<p>Others wondered what all this had to say about gaming and NFTs. If it cost $6,000 for a parcel, and as much as $6,000 in gas fees just to play, was it all becoming a playground for the very wealthy alone?<\/p>\n<p>The sale also raised questions about Ethereum\u2019s scalability \u2014 again \u2014 and the susceptibility of blockchain-based projects to manipulation and self dealing.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Metaverse_shines_brightly\"><\/span>The Metaverse shines brightly<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Still, even if the Yuga Labs sale didn\u2019t go entirely smoothly, shouldn\u2019t it still be celebrated as a milestone of sorts in the crypto\/blockchain world, especially at a time when the price of Bitcoin (BTC), Ether and other cryptocurrencies have been flat or ebbing?\u00a0<\/p>\n<p>Consider a report <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/kraken.docsend.com\/view\/95vinfxetzcywnyt\">published<\/a> last week by Kraken Intelligence which reinforced the notion that the Metaverse \u2014 a community of online \u201cworlds\u201d with many devoted to role-playing games \u2014 is one of the brightest stars in the crypto-based galaxy these days. Over the most recent 12-month period, the metaverse sector notched an annual return of +389%, noted Kraken, compared with Bitcoin\u2019s at -34%, Ether\u2019s at +3%, layer-1 networks at -10% and decentralized finance (DeFi) projects at -71%.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/1532e186-fa3b-497c-8f4c-39aa7683c3a7.png\"><\/figure>\n<p>The Metaverse sector includes assets like Decentraland (MANA), The Sandbox (SAND), Axie Infinity (AXS), as well projects like Yuga Lab\u2019s Apecoin (APE). In online \u201ccommunities\u201d like Sandbox, an Ethereum-based play-to-earn (P2E) game, players can build a virtual world, including the purchase of digital land whose ownership is guaranteed by an ERC-721 standard nonfungible token. The fungible SAND, an ETH-20 standard token, is used not only to buy land, purchase equipment and customize avatar characters but also enable holders to participate in The Sandbox\u2019s governance decisions.<\/p>\n<p>\u201cThe Metaverse is still a relatively fresh <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">theme<\/a> in the crypto industry,\u201d Thomas Perfumo, head of strategy at Kraken, told Cointelegraph to help explain why the Metaverse seemed to be thriving when other sectors were moving sideways. \u201cWhen <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a> rebranded as Meta in the second half of 2021, we saw a corresponding rise in the price of metaverse-associated fungible assets such as SAND and MANA. Before that, it wasn\u2019t top of mind for most market participants.\u201d <\/p>\n<p>It also represents part of an ongoing evolution of the crypto industry. Perfumo said earlier in a press release that \u201cit expands from financial utility into creative expression and community building.\u201d<\/p>\n<p>Still, $320 million for 55,000 parcels of \u201cvirtual land\u201d seems a bit pricey. Mark Stapp, the Fred E. Taylor chaired professor of real estate at Arizona State University\u2019s W. P. Carey School of Business, was asked if &#8220;virtual land&#8221; has any special qualities or uses that may be commonly overlooked \u2014 and could explain the considerable outlays for Otherdeeds and their ilk. He told Cointelegraph:  <\/p>\n<blockquote><p>\u201cI view the \u2018virtual land\u2019 as having value for marketing purposes so the platform\/world it exists within adjacencies to others. Relative location for capturing visitors and awareness would be desirable attributes.\u201d<\/p><\/blockquote>\n<p>In other words, it could enhance your own personal or commercial brand or game, if that is what you\u2019re creating, having Snoop Dogg, for example, as a neighbor in your online eco-system. This happened recently when someone reportedly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/fortune.com\/2022\/02\/02\/how-to-buy-metaverse-real-estate-snoop-dogg-celebrity-neighbor\/\">paid<\/a> $450,000 for a virtual parcel bordering Dogg\u2019s The Sandbox estate.\u00a0<\/p>\n<p><strong><em>Recent:\u00a0Mixing reality with the Metaverse: Fashion icon Phillip Plein goes crypto<\/em><\/strong><\/p>\n<p>It all seems a new application of the traditional real-estate adage: \u201clocation, location, location.\u201d As Sandbox <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/sandboxgame.gitbook.io\/the-sandbox\/land\/games-and-experiences-on-land\">notes<\/a> on its website:<\/p>\n<blockquote><p>\u201cLANDs which are closer to major partners or social hubs will likely get higher traffic from gamers, which can potentially mean more income through monetisation.\u201d\u00a0<\/p><\/blockquote>\n<p>Along these lines, some grumbling attended last week\u2019s Otherdeed launch about the quality of \u201cland\u201d that was offered to the public. The really good patches were being kept by insiders like existing BAYC holders, while others were charged. According to Crypto Twitter celebrity CryptoFinally:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">i wanted to participate in yuga, but one of the more fked up parts of otherdeed: non BAYCs who want to get involved paid for far shttier land, BAYCS got the only land worthwhile. yuga doesn&#8217;t seem to show interest in decentralization outside the existing core group. priced out.<\/p>\n<p>\u2014 CryptoFinally (@CryptoFinally) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoFinally\/status\/1521076856354713600?ref_src=twsrc%5Etfw\">May 2, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Is_a_bubble_forming\"><\/span>Is a bubble forming?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>What about the notion that the astronomical prices being paid for metaverse real estate is indicative of a developing bubble \u2014 one that could burst at any moment?<\/p>\n<p>Lex Sokolin, head economist at ConsenSys, told Cointelegraph that he wouldn\u2019t call anything a bubble. Rather, he prefers to talk about instances of \u201cover-valuing future appreciation.\u201d But, in this case, as with crypto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly, a different dynamic may be at play. Sokolin said:<\/p>\n<blockquote><p>\u201cIn traditional markets, you would discount future expectations based on some probability of hitting those expectations, and some cost of capital. In crypto, enterprise value is immediately capitalized through tokens and becomes very volatile as sentiment changes.\u201d<\/p><\/blockquote>\n<p>That doesn\u2019t mean that the entrepreneurial ideas here are wrong or misleading, he added, just that there can be \u201clong-term disconnects between how people project the future and how it is actually built.\u201d\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_is_Ethereum_gas_so_expensive\"><\/span>Why is Ethereum gas so expensive?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Then, there\u2019s the matter of Ethereum\u2019s gas fees, which by one estimation may have reached as high as $14,000 during the Otherdeed sale. Should one worry about the world\u2019s second-largest blockchain network?\u00a0<\/p>\n<p>\u201cThere\u2019s no debate that gas fees as high as $6,000 per transaction is indicative of the ongoing scaling challenges Ethereum faces,\u201d Perfumo told Cointelegraph. \u201cBut, it\u2019s important to note that ordinary transfer transactions and minting NFTs are not fully comparable activities on the Ethereum blockchain,\u201d he said, adding:<\/p>\n<blockquote><p>\u201cIn this specific example, too many people appear to have minted at the same time. As such, smart contract optimization by itself would likely not have changed much.\u201d\u00a0<\/p><\/blockquote>\n<p>Sokolin added that Ethereum provides a scarce computational resource and is a natural destination for high-value transactions \u201csince capacity is limited per block.\u201d And, there were also scaling solutions available that could have avoided the transaction crunch, but Yuga Labs chose not to use them. \u201cThat said, having NFTs that are on Ethereum gives them higher perceived status and the largest secondary market, which is likely why Yuga Labs went this route.\u201d<\/p>\n<p>Presight Capital crypto venture adviser Patrick Hansen went even further, asserting that the launch in a sense showcased Ethereum\u2019s current status. \u201cEthereum has massive challenges ahead, yet again visible in yesterday&#8217;s crazy gas fees spike,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/paddi_hansen\/status\/1521224703607820293\">tweeted<\/a> on May 2. \u201cBut the fact that some people are ready to spend mind-boggling +4k$ for #Ethereum transactions also shows how valuable its blockspace is. No other blockchain comes close in that regard.\u201d<\/p>\n<p>Sokolin agreed. \u201cExactly. If people weren&#8217;t willing to pay transaction fees, they wouldn\u2019t pay.\u201d It is one of the peculiarities of crypto economics that the arbitrage activity in such events is so high that even the long-term players \u201chave to pay a very high price to scalpers,\u201d he observed. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Leaving_a_bad_taste\"><\/span>Leaving a bad taste<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Still, the record launch left a sour aftertaste for some. \u201cI think the Otherdeeds sale was botched, leading to user backlash,\u201d<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bnnbloomberg.ca\/buyers-in-the-320-million-otherdeeds-nft-sale-are-underwater-1.1760656\"> <\/a>Aaron Brown, a crypto investor, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bnnbloomberg.ca\/buyers-in-the-320-million-otherdeeds-nft-sale-are-underwater-1.1760656\">told<\/a> Bloomberg.\u00a0<\/p>\n<p>But, maybe a certain amount of manipulation just seems to come with the virtual turf? \u201cI believe that what many companies are calling \u2018ownership\u2019 in the metaverse is not the same as ownership in the physical world, and consumers are at risk of being swindled,\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/theconversation.com\/can-you-truly-own-anything-in-the-metaverse-a-law-professor-explains-how-blockchains-and-nfts-dont-protect-virtual-property-179067\">wrote<\/a> legal scholar Jo\u00e3o Marinotti recently.  <\/p>\n<p>Land swindles occur in the physical real estate world, of course, so maybe one shouldn\u2019t over-react here, but there are some differences. \u201cNormally a prudent and informed buyer of real property would conduct due diligence, and the offeror would be subject to regulatory controls including required disclosures,\u201d Stapp told Cointelegraph. In the case of virtual real estate, \u201cI\u2019m unaware of any required disclosures or regulatory oversight,\u201d he said, adding:<\/p>\n<blockquote><p>\u201cRegulation is intended to prevent fraud, misrepresentation and keep the uninformed out of trouble. The current environment for selling these \u2018opportunities\u2019 is ripe for fraud or at least disappointment.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"A_betrayal_of_cryptos_roots\"><\/span>A betrayal of crypto\u2019s roots?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Finally, what about inclusivity and the crypto world\u2019s cherished democratic ethos. What does it say if it takes $10,000 or more just to participate in a blockchain-based community?<\/p>\n<p>\u201cThere\u2019s always been a freedom in the idea that anyone could participate with any amount they wanted,\u201d Mark Beylin, co-founder of Myco, told Cointelegraph. Bitcoin is divisible to eight decimal places, after all, so even if you owned just a tiny fraction of a Bitcoin, you still got the same benefits as someone who owned a lot, such as control of your own funds or freedom to transact, for instance, said Beylin, adding:<\/p>\n<blockquote><p>\u201cThat isn\u2019t true for NFTs, though, since owning a fraction of an NFT doesn\u2019t usually confer any rights to holders, beyond the speculative upside potential.\u201d<\/p><\/blockquote>\n<p>There were other sorts of disappointments too. Some would-be investors, for instance, lost all their Ethereum transaction fees and still didn\u2019t come up with any land tokens. These \u201cgas\u201d losses ran into thousands of dollars in some cases. When Yuga Labs <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/yugalabs\/status\/1520917586560659456?t=cStQ75TREJNWrDsNRtutew&amp;s=03\">announced<\/a> on May 1 that it was working on refunding gas fees to all Otherdeed minters whose transactions failed, some were skeptical.\u00a0<\/p>\n<p><strong><em>Recent:\u00a0Eager to work: Bitcoin switch to proof-of-stake remains unlikely<\/em><\/strong><\/p>\n<p>Nevertheless, on May 4, the developer <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/yugalabs\/status\/1521907133486411776\">posted<\/a> this message:<\/p>\n<blockquote><p>\u201cWe 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.\u201d<\/p><\/blockquote>\n<p>The developer refunded some 500 transactions worth collectively 90.566 ETH, or about $244,000 at the time of the refund. The largest single refund was for 2.679 ETH, worth about $7,877 on May 4 when refunds were sent, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/etherscan.io\/tx\/0x135cc786d513851cedd65552212dd5f71f6882fdfb20da6a17a603e3fac82a13\">according<\/a> to Etherscan.<\/p>\n<p>Meanwhile, Beylin, who had some bitter things to say about Yuga Labs early last week, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MarkBeylin\/status\/1520939107932856320?t=U7vxMnz6fDbqaARlgJOfiw&amp;s=19\">struck<\/a> a more positive and philosophical note by the week\u2019s end. \u201cIn the long run, the best projects will figure out a way to open up access for the many instead of just the few,\u201d he told Cointelegraph.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"nifty_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/largest-nft-mint-ever-making-sense-of-yuga-lab-s-virtual-land-bonanza\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Largest NFT mint ever: Making sense of Yuga Lab\u2019s \u2018virtual\u2019 land bonanza &#8220; Last week, 55,000 parcels of \u201cvirtual land\u201d were sold on the Ethereum blockchain for more than $300 million, the largest nonfungible token (NFT) mint ever. It wasn\u2019t without controversy.\u00a0 In return for shelling out close to $6,000, a purchaser received an&#8230;<\/p>\n","protected":false},"author":1,"featured_media":444263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvNjMyNDA3MmItYzFiMy00ZDAwLWJhN2YtYmI4OWNmZThlMTkyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,91498,95118,74892,74355,71226,70934,17813],"class_list":["post-444262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-metaverse","tag-nft","tag-tokens","tag-adoption","tag-real-estate","tag-regulation","tag-virtual-reality"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/444262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=444262"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/444262\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/444263"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=444262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=444262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=444262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}