ApeCoin Integrates with Polygon Despite Otherside Mint Backlash
Following the recent Yuga Labs' Otherdeeds non-fungible token (NFT) minting incident, which fueled speculation about a new chain for APE, ApeCoin announced its integration with Ethereum (ETH) sidechain Polygon (MATIC).
Yuga Labs, the creators of the Bored Ape Yacht Club NFT collection, launched the minting for Otherdeeds NFT land on Sunday. With an estimated $300 million in sales, the drop received overwhelming support from its community. However, the land sales encountered a number of issues, including pushing ETH gas fees to unprecedented highs, resulting in users paying between 2 and 5 ETH for gas.
Consequently, users who failed to mint NFTs but still paid ETH gas fees were outraged and expressed their displeasure on Twitter, with some even tweeting that they are pulling back from their APE-related investments.
While Yuga Labs promised to refund their gas, some users speculated that the failure was a planned marketing stunt, such as highlighting a problem before announcing a new APE chain. An ApeCoin decentralized autonomous organization (DAO) representative, on the other hand, denies this.
ApeCoin has now found a new home on Polygon, which is an Ethereum scaling solution. There has also been speculation that ApeCoin will launch its own blockchain, but the cryptocurrency's leaders have denied this, according to CoinTelegraph.