“Fuck Dutch auctions” is how Yuga Labs began their mint of Otherdeed. “We’re sorry,” is how they ended as one of the biggest NFT mint in history gave almost as much to eth holders as to Yuga Labs.
16.8 million ape tokens were raised, worth $250 million, but 55,831.91 eth was burned in fees in a gift to eth holders. That’s partly some say due to the unoptimized smart contract, and partly because the simple design courted a bidding war.
Source: https://www.trustnodes.com/2022/05/02/apes-gift-ethereans-150-million