Ethereum brand assets | ethereum.org

On April 30, Yuga Labs, the creators of Bored Ape Yacht Club (BAYC), launched their much anticipated “Otherside” metaverse land non-fungible tokens (NFT) mint on Ethereum. 

Even though the Yuga Labs team stated before the launch that they were taking precautions to “dramatically soften the potential for a massive gas war,” the mint ended up producing the highest gas surge in the history of Ethereum, with daily average gas prices reaching over 800 GWEI over $150 million spent on gas fees during the mint, according to data from Coin Metrics.

The frantic drive to mint resulted in a significant number of transactions that did not go through.

Over 10,000 unsuccessful transactions and over $4 million in failed transaction fees were incurred by users who attempted to mint but set the gas price too low, resulting in their transaction not being validated before supplies ran out.

Mint attempts: Source: takenstheorem

Since payments from unsuccessful transactions cannot be recovered directly, Yuga Labs has committed to refunding the fees from their own pockets to individuals who have been impacted.