CyberKongz’ Mass Monkey Minting Burns $4M In Ether

Spotlight

  • Wu Blockchain reported that CyberKongz burned 1,240 ETH, or about US$4 million, in just 5 hours.
  • As per OpenSea marketplace, currently, there are 3,000 NFTs in the ape-themed collection and now more than 600 owners.
  • The Minting event started approximately 8 hours ago at 7 PM UTC on Sunday, August 15. Currently, about 10,000 CyberKong NFTs are available for minting.

The latest animal-themed NFT craze has crossed its limits and has become the main source of Ethereum transaction fees in the past 24 hours. CyberKongz was started as a series of 1,000 unique NFTs in early March 2021. Today, it has become the most popular thing in the NFT marketplace. Additionally, it has now taken the position of NFT marketplace OpenSea as well as Uniswap in terms of Ethereum fee burning. Uniswap is the world’s most popular decentralized exchange. This great success of CyberKongz was noticed by Wu Blockchain, a Chinese blockchain store, and it reported that it burned 1,240 ETH, or about US$4 million, in just 5 hours.

The mass monkey minting has pushed up gasoline prices. And the average transaction price has reached its highest level since the end of May, at about $25. Etherscan’s gas tracker reports that for more complex operations (such as smart contract interoperability), the price is more than $40.

Today, the ETH fee burning tracker ultrasound.money reported that Cyber​​Kongz VX was responsible for burning 1,430 ETH, or 4.7 million U.S. dollars, in the past 24 hours. It still precedes OpenSea and Uniswap. As a matter of fact, it burnt more than both of them combined!

CyberKongz And OpenSea

As per OpenSea marketplace, currently, there are 3,000 NFTs in the ape-themed collection and now more than 600 owners. In addition, the lowest price of the NFT is 1.27 ETH, which is approximately US$4,150. 

The most expensive NFT which was the first one in the series was being sold for up to 10,000 ETH, or 33 million U.S. dollars. According to the official page of the NFT Collection, CyberKongz’s 34×34 pixel image is very popular because it is suitable as a profile picture on Discord and social media. Moreover, a BANANA token was also created. This allowed Genesis CyberKongz to generate about 10 tokens each day for the next ten years.

The Minting event started approximately 8 hours ago at 7 PM UTC on Sunday, August 15. Currently, about 10,000 CyberKong NFTs are available for minting. This also includes the 3D ones and they can be used in the metaverse. OpenSea accounts for nearly 16% of all gas usage on the network. Also, it has generated a tariff of US$2.7 million in the past 24 hours. OpenSea is the platform where the newly minted CyberKongz are sold on the secondary market.

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