Yuga Labs and the ApeCoin DAO community are considering moving ApeCoin (APE) from Ethereum to another network.
Eh, what happened?
In early May, Yuga Labs launched land sales in its metaverse, Otherside.
The sale received tremendous attention, forcing investors to spend more than $ 100 million in transaction costs following a surge in activity at Ethereum.
That cost makes it the most expensive gas in Ethereum’s history.
Actually the network transition plan is not a serious topic discussed but the Ethereum congestion stemming from the production (mint) of OtherDeed and the plan to establish its own network makes this issue a major focus.
OtherDeed
The NFT plays a ‘key’ role to land ownership in the Otherside
The number is limited to 55,000 OtherDeed
On May 2, proof of ownership of the land on the Otherside was sold directly by Yuga Labs starting at around 305 APE (current value: $ 2,588.32 // RM11,376.14)
Otherdeed has recorded a price increase with a current record of 3.15 ETH ($ 6,413 // RM28,184.67)
Following the news, Avalanche and Flow offered a venue for Yuga Labs by describing them each as far better at supporting the large NFT ecosystem that Yuga markets.
Will Flow and Avalanche be able to be the solution to this issue?
The uniqueness of Avalanche offered for any project is that Yuga Labs can exist on its own subnet.
This technology allows transactions for one application to be isolated without congesting the entire network.
Meanwhile, Flow has proven the sustainability of its network through hundreds of thousands of daily transactions for NFT NBA Top Shot.
Not only that, the establishment of Flow also actually started with the Ethereum congestion incident due to CryptoKitties, making it a solid use case to attract the entire Bored Ape Yacht Club (BAYC) ecosystem anchored on this network.
Anyway, there are many things for Yuga to consider. One of the risks of exploitation is the same as that faced by Axie Infinity once upon a time.
So far there has been no final word from them.
