OTHERDEEDS: The Bored Ape Yacht Club Released New Info About This Weekend's Mint
The Bored Ape Yacht Club released new information regarding this weekend’s mint late Thursday evening.
“Dutch auctions are actually bullshit, so Otherdeeds will be sold for a flat price of 305 ApeCoin,” the club tweeted.
This is the first time that the club has referenced land (deeds) regarding this weekend’s mint.
In total, the club will be selling 55K Otherdeeds. In order to participate in the sale, users must have completed the previous KYC from Animoca Brands.
“In order to ensure as broad a distribution as possible and dramatically soften the potential for a massive gas war, there will be an enforced limit of 2 NFTs per wallet at the start of the sale,” the club wrote on its Mirror webpage. “Again, this is per wallet, not per transaction.”
Here’s an example of how the mint process will go:
Prior to Saturday’s mint, that will begin at 9 p.m. EST, the BAYC will allow users to set their pre-approvals for $Ape coin.
“Also, we’ve heard from the community that we should allot more time for users to set pre-approval for ApeCoin. So starting at 9am ET on 4/30, users will be able to do this. The actual sale will not begin until 9pm ET, a full 12 hours later.”
Along with this weekend’s mint, Apes and Mutants will also be able to claim “an NFT,” according to the club.
“BAYC and MAYC holders, you’ll be able to claim an NFT for 21 days after the auction,” the club tweeted on April 25th. “You don’t need to be KYC-approved to claim, but you DO need to be KYC-approved to mint in the auction.”
In total, this mint will take 16,775,000 $Ape out of circulation (55,000 * 305). This $Ape will be locked for one year," according to the club. “And before anyone asks: Whatever ApeCoin is earned from this auction will be locked up for one year. That means no voting with it in the ApeCoin DAO either.”
The Bored Ape Gazette will continue to follow the Otherdeed mint and let you know when more information becomes avaible.