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Yuga Labs sold $561 million in Otherside NFTs in 24 hours making it the largest NFT mint in history. So many people went ape over the metaverse art that Ethereum crashed and burned like a Japanese WWII pilot. Land plots went for $5,000 in virtual la-la land. This happened on Saturday night when young stud muffins should have been out on the dance floor pretending to be John Travolta in a bad 1970s movie. Word has it that NFT junkies paid thousands of dollars in gas fees while the blockchain flipped them the finger. ApeCoin slid 40 percent in the after-party cool down period. On the bright side, OpenSea is now accepting ApeCoin. If you’re wondering why Ethereum is always the center of some high drama, it may be because there are just so many coins, token, developers, and other midnight lovers clamoring all over each other to get a piece of the blockchain’s sugar beef.
If you’re one of these goobers caught by the predictive typing buzz, you might want to tame your phone. Predictive typing makes it easier for hackers to steal your crypto. Of course, saving your crypto on your phone makes it easier for hackers to steal your crypto.
Snark and commentary in italics. Except where otherwise noted, I am not giving financial advice. If I were giving financial advice, I’d note it. But I’m not.
Cryptocracy is a decentralized newsletter published 4 times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.