Cats cause chaos on Ethereum again as Mila Kunis’ project sells out in 35 minutes
Cats cause chaos on Ethereum again every bit Mila Kunis' projection sells out in 35 minutes
Data from Dune Analytics shows in that location was a total of 344.4 ETH ($793,000) in value lost to failed Stoner Cats transactions.
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Tokenized cats accept once more caused chaos on the Ethereum network after a nonfungible token (NFT) project from actress Mila Kunis sold out in 35 minutes.
It echoes the launch of another cat-based NFT projection, CryptoKitties, which infamously gummed up the Ethereum network in 2022.
The launch of Stoner Cats was initially delayed by a day after the team constitute a bug in the underlying art layers. However, the second try was successful and sold out in only "35 meow-nutes," according to a catastrophic pun from Stoner Cats.
— Stoner Cats (@stonercatstv) July 27, 2022We SOLD OUT in 35 meow-nutes!
If y'all got a TOKEn, drop it here!
Gas prices soared as NFT collectors snapped upwards the first tranche of Stoner Cats, which had a cap of x,420 NFTs at a price of 0.35 Ether (ETH) each, worth roughly $804 at the time of writing. According to the project's website, another 3,000 new NFTs will be released over the course of the commencement season.
Decentralized finance analytics firm Defiprime joked that "as usual cats clogged Ethereum" on Twitter, and it shared on-chain data that showed a precipitous fasten in ETH gas fees ranging betwixt 200 Gwei ($9.50) for a slow transaction and a hefty 709 Gwei ($33.67) for a rapid transaction.
$700k lost in Cats' failed TXs https://t.co/RczxG4xeAh
— defiprime (@defiprime) July 27, 2022
According to data from Dune Analytics, at that place was also a total of 344.4 ETH ($793,000) in value lost to failed Stoner Cats transactions.
Stoner Cats is an animated series that is backed by NFTs, and the characters are voiced by celebrities including Kunis, Jane Fonda, Ashton Kutcher, Seth MacFarlane and Chris Stone. The NFTs grant the possessor access to watch the show, and the project uses NFT sales to finance its production.
Ethereum co-founder Vitalik Buterin is also a vox actor for the character dubbed "Lord Catsinton," who is described as a "spirit guide."
lmao someone just paid 5.8 ETH (and used up 20% of a block in gas) for a failed tx trying to mint twenty stoner cats https://t.co/JfvRtiGkm9
— jimmy (@jimmyjames198) July 27, 2022
Investors have now flocked to list the NFTs on OpenSea, and a StonerCat NFT depicting Buterin's character is currently on sale for 77 ETH worth roughly $177,000 — a per centum markup of around nine,500%. An NFT depicting MacFarlane'south grapheme is on auction for 420 ETH, or more than $960,000.
Related: Blockchain tech is holding NFTs back because of these three design flaws
The short-lived surge pales in comparison to CryptoKitties, however, which famously "bankrupt Ethereum" back in 2022 afterwards its launch was met with overwhelming need.
Cointelegraph reported in May 2022 that a surprise CrypoKitties drop overwhelmed the Keen NFT marketplace later an affluence of collectors flocked to the platform, which resulted in a serial of service problems, such as slowness and failed transactions.
Source: https://cointelegraph.com/news/cats-cause-chaos-on-ethereum-again-as-mila-kunis-project-sells-out-in-35-minutes
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