- Yuga Labs’ Sewer Pass NFT Collection generates more than $6 million in profits in a few hours.
- Yuga Labs has released the next NFT project, Dookey Dash.
- Certain requirements were embedded in the Sewer Passes smart contract.
Yuga Labs launched their Sewer Passes for minting on Wednesday, resulting in a total sales amount of over 4,000 ETH (nearly $6 million) within hours of their release. On Wednesday, owners of a Bored Ape Yacht Club or Mutant Ape Yacht Club NFT were entitled to obtain a unique Sewer Pass, which served as the password to play the skill-based game Dookey Dash.
Those with a Sewer Pass can play Dookey Dash from January 19 to February 8, and their results will be used in a larger narrative experience dubbed “Chapter 1” at a future stage.
The Sewer Passes are divided into four grades, depending on whether the bearer of a BAYC or MAYC NFT also possessed a Bored Ape Kennel Club NFT. The floor price for a Level 1 Sewer Pass on the secondary NFT market OpenSea at the time of publication was 1.3 ETH, while Tier 4 tickets were advertised for up to 420 ETH.
The official Sewer Pass series has been posted for secondary sale on OpenSea, according to Bored Ape Yacht Club. Interestingly, the Sewer Passes smart contract included some requirements, such as a blocklist of specific wallet accounts, which caused discussion on Twitter over the move. Several of the blacklisted domains belong to other significant secondary markets, such as LooksRare and NFTX.
LooksRare, one of the outlets ostensibly affected by the change, made royalties optional in October. Several other big platforms, notably X2Y2, have adopted this framework as part of a wider platform push to woo sellers searching for the greatest bargain on their NFT buy. Meanwhile, creators have resisted the change, claiming that it jeopardizes their capacity to earn from their artistic contributions in the long run.
Yuga Labs‘ spokesman reinforced the business’s position on safeguarding creator royalties, stating that they have always been a creative-first company and feel that artist royalty payments must be preserved. The free Sewer Pass claim will only be exchanged on sites that honor creator royalties.