YugaLabs has made another important step in the exploration of the frontiers of Web 3, launching a gamified and interoperable metaverse Otherside together with Animoca Brands. It's a role-playing game (metaRPG) where thousands of players can prototype, world-build, and play together in real-time. The first batch of 100,000 land resources Otherdeed was officially launched on April 30.

EthereumEthereumShort-term transaction fees on the Internet suddenly increased; users who snapped up Otherdeed suffered huge losses due to the rapid drop in secondary market prices; Otherdeed was not attractive to BAYC holders, etc. So, what is the real picture behind the release of Otherdeed? Is it possible to lose money now? How can I successfully mint coins in Gas War? What happened to the holding address? After analyzing a series of market data and on-chain transaction data, PAData found that:

1) The secondary market transaction price of Otherdeed has been under obvious pressure since its launch. And the transaction prices tend to be discrete and differentiated. A small number of Otherdeeds have higher transaction prices, but most of them are lower and gradually lower.

2) The 55,000 Otherdeeds for public sale were sold out within 159 minutes. In the 60th minute, a total of 12,130 addresses have minted 23,282 Otherdeed, and in the 74th minute, the cumulative number of minted coins accounted for more than 50% of the total public offering.

3) The application of BAYC and MAYC holders is not very popular. As of 12:00 noon on May 8 (UTC), a total of 15,241 BAYC and MAYC holding addresses have claimed a total of 27,610 Otherdeed, accounting for 92.03% of the total claimable amount, and 2,390 Otherdeed have not yet been claimed.

4) As of May 5, the number of addresses held by Otherdeed is about 33,997. However, the holdings of single addresses have obvious hierarchical differentiation. The trends worthy of attention include that new addresses continue to hold Otherdeed, addresses with 2-5 Otherdeed continue to increase their holdings, and a small number of giant whale addresses may sell Otherdeed.

5) A total of 28,746 transactions were successfully minted, and the Gas price paid was basically concentrated between 4000-6000 Gwei, accounting for more than 90% of the total. The highest transaction fee paid reached 45,556 Gwei, and there were 93 transactions exceeding 10,000 Gwei.

6) 28,746 successful coin minting transactions were packaged into 696 blocks, and the accumulated handling fees reached 60,233.98ETH, equivalent to an average payment of about 2.12 ETH for each successful transaction. 13,174 failed coin minting transactions were packaged into 703 blocks, and the cumulative payment fee reached 0.55 ETH.

7) The transaction fee destroyed due to the Otherdeed transaction has reached 55916.61 ETH, second only toOpenSeafirst level title

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The average price in the secondary market fell by more than 18%, and the recent market selling pressure may be heavy

contractcontractData Analysis Boring Ape Otherside land, is it still worth buying after the secondary market is under pressure?

Looking at the average and median transaction prices, the downward trend is more pronounced, which means that, in general, most Otherdeed prices have become cheaper in the past 6 days. The average transaction price dropped from 9.192 ETH on May 1 to 7.486 ETH on May 6, a drop of about 18.56%. The median transaction price dropped from 7.267 ETH on May 1 to 4.050 ETH on May 6, a drop of about 44.27%. It is worth noting that the median decline in the same period is greater than the average, which shows that the market transaction prices tend to be discrete and differentiated. A small number of Otherdeeds have higher transaction prices, but most of them are lower and gradually lower.

So in such a market, can the users who snapped up Otherdeed for the first time still make a profit? According to 218.6 on UniswapAPE=1 ETH exchange rate conversion, the selling price of 305 APE is equivalent to 1.3953 ETH, plus the average transaction fee of 2.12 ETH for successfully casting Otherdeed, which is equivalent to the average cost price of each Otherdeed is about 3.52 ETH, which is still low The daily average transaction price in the secondary market is already significantly higher than the multi-day floor price. Comparing the average minting cost with the average transaction price, it can be predicted that the profit margin of each Otherdeed is between 15% and 43% (without removing the OpenSea transaction fee). However, if the coin is minted with a higher handling fee and sold at the average transaction price, there is a possibility of loss. If APE is purchased at a lower price and sold at the average transaction price, the profit margin may be greatly increased. The user's final profit depends on the purchase price of APE, transaction fees and the final transaction price. This is a dynamic system of multi-party games. Here, only an average perspective is provided as a reference.

Data Analysis Boring Ape Otherside land, is it still worth buying after the secondary market is under pressure?

first level title

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The public sale was sold out in only 159 minutes, and BAYC/MAYC holders have not yet fully claimed

airdropairdropFor BAYC holders, 20,000 are airdropped to MAYC holders, and the remaining 15,000 are airdropped to developers.

Data Analysis Boring Ape Otherside land, is it still worth buying after the secondary market is under pressure?

Data Analysis Boring Ape Otherside land, is it still worth buying after the secondary market is under pressure?

Data Analysis Boring Ape Otherside land, is it still worth buying after the secondary market is under pressure?

first level title

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A total of 61,800 ETH has been paid for minting, and the highest Gwei has exceeded 45,000

The public sale of Otherdeed has triggered a Gas War. How high are the transaction fees paid for those successful minting transactions? According to statistics, a total of 28,746 transactions were successfully minted, and the Gas price paid was basically concentrated between 4000-6000 Gwei. Among them, there were 12,977 transactions with Gas prices between 4000-5000 Gwei, accounting for about 45.14%, 8908 transactions between 5000-6000 Gwei, accounting for about 30.99%, and transactions between 6000-7000 Gwei. 4152 pens, accounting for about 14.44%, and the three together accounted for more than 90%. In addition, the gas price paid accounted for only 3.40% of the transactions with less than 4000 Gwei, and only 6.03% of the transactions with more than 7000 Gwei.

Although there are not many transactions that pay relatively low or high Gas prices, these transactions are also very meaningful for understanding the intensity of the Gas War. Among the successful coinage transactions included in a single block, the highest fee paid reached 45,556 Gwei, and there were 93 transactions exceeding 10,000 Gwei, most of which were between 10,000-13,000 Gwei. Even with the minimum fee, the average minimum Gas price per block has reached 5905 Gwei. You should know that under normal circumstances, the Gas price of each transaction in Ethereum is usually between 100-200 Gwei in the near future. The impact of the Otherdeed public sale on instantaneous transaction fees is enormous.

Judging from the number of minting transactions and handling fees contained in each block, the number of successful minting transactions and handling fees show a good linear fitting effect, that is, when the number of minting transactions included in a block increases, the block The transaction fee has also increased significantly. According to statistics, 28,746 successful coin minting transactions were packaged into 696 blocks, and the accumulated handling fee reached 60,233.98 ETH, which is equivalent to an average payment of about 2.12 ETH for each successful transaction.

On the contrary, the number of unsuccessful transactions and handling fees cannot be fitted to a linear relationship, that is, there is no obvious correlation between the number of transactions and the level of handling fees. When the number of minting transactions included in a block increases , the transaction fee of this block does not increase (as shown in the green circle group in the figure), or the transaction fee of this block does not increase correspondingly (as shown in the red circle group). According to statistics, 13,174 transactions that failed to mint coins were packaged into 703 blocks, and the cumulative fee paid reached 0.55 ETH.

Regardless of whether the coinage is successful or not, Otherdeed’s public sale generated a total of 61,832.93 ETH in handling fees, which is far higher than the usual level of Ethereum’s single-day entire network handling fee of basically no more than 20,000 ETH. In addition, according to the statistics of ultrasound.money, the transaction fee destroyed due to Otherdeed transactions has reached 55916.61 ETH, second only to OpenSea, Uniswap V2, Tether andUniswap V3these four agreements. The remaining 5916.32 ETH is the tip fee paid. This shows the transactional influence of Otherdeed on the Ethereum network.