Virtual land related to Yuga Labs' metaverse project, Otherside, was in such high demand during an auction on Saturday this that it disrupted the Ethereum blockchain and sent transaction fees soaring. Yuga Labs, the creator of Bored Apes Yacht Club non-fungible tokens, raised $320M of cryptocurrency in the largest offering of its kind, Bloomberg reported. The auction only accepted ApeCoin (APE-USD) for bids on the virtual land. Late Saturday night, the company said it was aware of failed transactions due to the large demand "being forced" through the Ethereum block chain," and that it would refund the "gas", or transaction fees, of those whose transactions failed. On Saturday, each plot cost ~$5,800 based on ApeCoin's (APE-USD) price of $19, plus transaction costs in ether (ETH-USD). The transaction fees for each Otherdeed, the NFT minted in the metaverse project, reached ~$6,000, or 2 ether (ETH-USD) in fees to mint, exceeding the price
