Autor: dot-traders

Yuga Labs, Bored Ape Yacht Club (BAYC) NFT collection creator, announced on Twitter that it has reimbursed the gas fees or transaction cost of every person who was unable to buy digital land of Yuga Labs’ Otherside metaverse due to technical problems.

Yuga Labs confirmed this in a tweeter thread saying:

“We 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.”

Multiple purchases and reimbursing the failed transaction cost

The mint of Otherdeed non-fungible tokens (NFTs) garnered the Yuga Labs company $320 million in sales over the weekend. 

Data from Etherscan showed that the company spent a total of 90.57 ETH ($265,000) to reimburse almost 650 individuals with the largest refund of 2.6 ETH ($7,500) going to a single individual.

For the company to ensure that the process was efficient, they tapped a MultiSender, a dApp that doesn’t need a wallet to interact with or even confirm the contract before receiving a payment, to distribute the funds to their respective owners. 

In the case of multiple failed transactions, the MultiSender app combined it with a single refund.

Your refund for gas fees will show there, issued from https://t.co/ZnYDm173iI. If you had multiple failed transactions, they were combined into one refund.

— Yuga Labs (@yugalabs) May 4, 2022

The largest NFT Mint in the NFT world

The highly anticipated Yuga Labs NFT land sale of “Otherside’’ has shaken the Ethereum blockchain by becoming one of the largest NFT mints in the history of the NFT world. Besides, it has set the gas fee to the moon by setting them to record highs with some of the buyers paying thousands of dollars for a single NFT they did not receive.

We’re sorry for turning off the lights on Ethereum for a while. It seems abundantly clear that ApeCoin will need to migrate to its own chain in order to properly scale. We’d like to encourage the DAO to start thinking in this direction.

— Yuga Labs (@yugalabs) May 1, 2022

However, last weekend after the sale, Yuga Labs tweeted that they were working on reimbursing the money to those who had failed transactions.

The post Yuga Labs reimburses transaction cost for failed BAYC land sale appeared first on Coin Journal.

Zilliqa (ZIL) is one of the best performers in the crypto market today. It has rallied by over 20% today.

At the time of writing, ZIL was trading at $0.08889, up 25.67% after hitting a daily high of $0.09776 before pulling back.

Zilliqa trend on social media

According to reports from LunarCrush, a market and social media activity monitor for cryptocurrencies, the ZIL token was among the most discussed cryptocurrencies.

Current top 10 coins by LunarCrush AltRank™ with leading combined social + market activity.

1️⃣ $zil
2️⃣ $ada
3️⃣ $crv
4️⃣ $avax
5️⃣ $rune
6️⃣ $vet
7️⃣ $axs
8️⃣ $sand
9️⃣ $ftm
🔟 $apehttps://t.co/CoHd7Gr4s0 $alts pic.twitter.com/0D2QnBOjfe

— LunarCrush (@LunarCrush) May 4, 2022

These market and social sentiments are considered the main reason behind the token rally helping the coin to cover some of its past 30 days’ drop of 37%.

In addition, the token rally has also been influenced to some extent by CEO Ben Livshits’s move of revealing the project roadmap. The CEO said that the project will concentrate on building and integrating Metaverse, gaming, and DeFi applications.

April’s been a whirlwind of activity! We joined the @BGameAlliance, unveiled @themetapolis, and @convoluted_code shared #Zilliqa’s Roadmap 2022 with the #ZilFam. And that’s just scratching the surface.

Read all about it here! https://t.co/X5ZVNGEyzV pic.twitter.com/AgFy0foVHM

— Zilliqa (@zilliqa) May 4, 2022

Livshits also laid a roadmap that will play a major role in the achievement of the industry’s future goals.

Zilliqa’s partnerships

Zilliqa has partnered with the Blockchain Gaming Alliance (BAG) to unveil Metapolis which according to Zilliqa is the first ‘Metaverse as a Service Platform’ to be built on stack technology. BAG also announced its collaboration with Atomic Wallet to support Zilliqa’s blockchain Non-Fungible Tokens (NFTs). 

ZIL token has also been listed on a number of crypto exchanges like BitGet, BitPanda, and Binance in the recent past.

Zilliqa team also aired their views concerning the Metapolis rumors by saying that Metapolis is an extended reality that has powerful capabilities. Besides, blockchain firms surpassed 2 million blocks.

The post Zilliqa Token (ZIL) price surges amid social media sentiment spread appeared first on Coin Journal.

Avalanche’s (AVAX) price has rallied over 10% today following the news of the launch of Valkyrie, a prominent digital asset manager, and the increasing interest in Avalanche among institutional investors. 

At the time of writing, AVAX was trading at $67.25, up 10.91% after hitting a one-week high of $67.35 and the 11^th largest cryptocurrency by market cap.

Valkyrie announcement and interest among institutional investors

The rally was greatly influenced by the Valkyrie announcement on Wednesday in a press release about the launch of an investment trust dedicated to AVAX. With the announcement, the asset manager is anticipating that more institutional money will be drawn into the Avalanche blockchain since there has been a growing interest among institutional investors in AVAX after Ethereum’s plan to shift to the medium this year. 

The trust will allow institutional investors to acquire token exposure without buying them directly as well as invest in AVAX on their behalf, however, according to Valkyrie, the trust will be available to qualified investors only.

In addition, Valkyrie praised Avalanche as one of the fastest smart contract platforms in the entire blockchain industry.

Crypto market influence on AVAX

AVAX surge was also influenced by the broader crypto market which has experienced significant gains today.

The rise in the entire crypto market was influenced by the investors’ relief after U.S Federal Reserve raised the rates as anticipated. In the last 24 hours the total crypto market capitalization has experienced an increase of about $100 billion.

Proof-of-stake networks adoption

There has been a growing interest in other Proof-of-Stake, PoS tokens, like AVAX, ADA, and SOL as Ethereum plan to shift to a PoS network, besides, Avalanche is now being seen as a major competitor for Ethereum.

The institutional investors seem to be attracted to PoS tokens as an alternative investment to Bitcoin. This is because of the lower energy requirement in the Proof-of-Stake tokens as compared to that of Proof-of-Work tokens making it one of the best choices for environmentally conscious regulators.

Additionally, Digital fund managers like 21Shares, CoinShare, and Grayscale have also launched PoS-exposed products as the demand from their institutional clients continues to grow this year.

The post Avalanche (AVAX) price surges after AVAX dedicated investment trust launch appeared first on Coin Journal.