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OtherSide land sale is coming soon! The appearance of purchasing KYC wallets is a sign of the times, how many people are currently waiting to mint?

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OtherSide land sale is coming soon! The appearance of purchasing KYC wallets is a sign of the times, how many people are currently waiting to mint?

The Otherside land sale will officially begin at 9:00 AM Taiwan time on May 1st, with a total of 55,000 parcels of land available for minting. However, only wallets that have passed the KYC process are eligible to participate in this event, leading to strange occurrences of wallet acquisitions online.

KYC Wallet Secondary Market

In March this year, Yuga Labs posted a mysterious link on its Twitter, which led to a KYC process requiring users to provide their Ethereum wallet address, as well as personal identification such as an ID card or passport. At that time, Yuga Labs emphasized that this process was not for a Play-to-Earn game or token issuance.

Looking back now, it was actually for the sale of Otherside land "Otherdeeds", which could only be purchased with a KYC-verified wallet. However, the KYC verification process has ended, and those who wanted to purchase but did not qualify turned to buy wallets that did meet the requirements.

Due to the lack of restrictions during the initial KYC process, those who had KYC wallet addresses but did not have enough funds became the suppliers, while those with funds but no eligible wallets became the demand, creating a strange secondary market on Twitter.

Under the tweets of well-known NFT whale dingaling, there were also many buying and selling demands for KYC wallets.

Furthermore, similar situations appeared under tweets announcing the details of Otherside's land auction.

Never Buy Someone Else's KYC Wallet

Apart from the legal and moral issues of impersonating someone else, when you buy someone else's wallet, you receive a mnemonic phrase. Unless you can erase the mnemonic phrase from the seller's memory, they can restart the wallet at any time and transfer the assets.

Additionally, if they choose, they can even sell the same wallet multiple times. Therefore, never buy someone else's wallet; the safest method is to purchase on the secondary market.

How Many People Are Waiting to Forge?

According to data from Dune Analyticshere, there are 7,484 wallets holding more than 305 but less than 610 APE tokens, and 23,996 wallets holding over 610 APE tokens, as of the deadline.

Therefore, there is an estimated demand for 55,476 7,484 + 23,996*2 pieces of land, exceeding the total land available for forging. However, this data does not include centralized exchanges, and as the forging deadline approaches, the demand will continue to rise.

Perhaps, a historic Gas war is about to erupt.

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