Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Samyuktha Sriram

Users End Up Spending $26M In Ethereum Gas Fees, Trying To Mint VaynerSports NFTs

The VaynerSports Pass NFT project faced harsh criticism on Tuesday after users spent three times the NFT sale amount on gas fees alone.  

What Happened: The VaynerSports Pass NFT collection was launched by AJ Vaynerchuk, brother of prominent internet personality Gary Vaynerchuk also known as Gary Vee.

The widely anticipated public mint went live on Tuesday but users found themselves paying a cumulative amount of $26 million in gas fees. Meanwhile, the total amount made from the NFT sale was just $8.6 million.

AJ Vaynerchuk addressed the issue on Twitter Inc. (NYSE:TWTR) calling the mint “a failure” on his part.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.