Bored Ape Yacht Club's new game "Sewer Pass" open for minting, but trading banned on multiple secondary markets

Yuga Labs' latest game project "Dookey Dash" has launched the game pass "Sewer Pass" for minting in the early hours of today. In less than a day, the trading volume has exceeded 6,000 ETH, with the lowest price reaching 1.45 ETH. However, Simon Cousaert, the data director at The Block, discovered that multiple NFT secondary markets have banned the trading of Sewer Pass.

Sewer Pass claim is now open at https://t.co/CCLsz4krgi. Every BAYC/MAYC holder can claim one until February 8. There’s no rush or benefit to early claiming — if you have a BAKC, you may want to bring your doggo along. Sewer Passes are the only way to access Dookey Dash. pic.twitter.com/x2KALaFEcZ

— Bored Ape Yacht Club (@BoredApeYC) January 18, 2023

Sewer Pass Opens for Minting, Active Trading in Secondary Market

The Sewer Pass minting is now open on the Yuga Labs minting page, with four different types available depending on the NFT held. The most expensive is the pink pass, with the lowest price in the secondary market at 4.4 ETH, approximately $6,600, while the cheapest is the green pass, with the lowest price in the secondary market at 1.45 ETH, approximately $2,175.

Since the opening of Sewer Pass minting, trading on OpenSea has been active, with a total trading volume close to 7,000 ETH. With a 5% royalty fee, Yuga Labs has earned approximately $500,000 in revenue.

For more minting information, refer to our previous report: Yuga Labs Unveils New Developments! Releases Mind-Blowing Teaser Trailer, Accompanied by Bored Ape Adventure Game

Note: Check whether BAYC or MAYC has claimed Sewer Pass through this website.

Multiple Secondary Markets Blocked, Related to OpenSea Royalty Tool?

However, just two hours after the minting was opened, Simon Cousaert, Director of Data at The Block, discovered that the "_beforeTokenTransfer" function in the Sewer Pass smart contract checks the eligibility of the NFT transferor. Several NFT secondary markets have been put on a blocklist and are unable to trade Sewer Pass, including Blur, LooksRare, Sudoswap, and NFTX.

Among these blocked NFT secondary markets, Blur and LooksRare allow users to decide the percentage of royalties to pay, while users of Sudoswap and NFTX do not need to pay royalties.

Wow not only is Yuga Labs blacklisting Blur they have also blacklisted LooksRare, SudoSwap, and NFTX. Royalty war is heating up. https://t.co/afAnovk9ND pic.twitter.com/UEd3dtw0w4

— Simon Cousaert (@Merkle3_) January 18, 2023

Several Twitter users explained that this phenomenon is due to OpenSea's introduction of a royalty enforcement tool in November last year, a simple code snippet that NFT creators can add to their NFTs to ensure royalties are received during transactions.

However, these NFTs can only be traded in markets that enforce royalties, which is why multiple NFT secondary markets mentioned above are blocked.

From the current situation, it appears that Yuga Labs, a highly representative NFT team, is taking a stand against royalty-free markets on OpenSea. However, it is not difficult to understand why Yuga Labs made this decision, as only in secondary marketplaces like OpenSea can the team generate continuous income.

The high trading volume of Sewer Pass also proves that NFTs that can spark market discussions and interest can attract numerous users to participate in trading, even with a portion of royalties deducted.

Full article: OpenSea Introduces Royalty Enforcement Tool, But Unable to List on Most Markets! beeple: OpenSea is on Fire