{"id":7991,"date":"2021-08-16T09:49:35","date_gmt":"2021-08-16T08:49:35","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=7991"},"modified":"2021-08-16T09:49:44","modified_gmt":"2021-08-16T08:49:44","slug":"cyberkongz-nft-minting-burns-4m-in-ether-in-5-hours","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/cyberkongz-nft-minting-burns-4m-in-ether-in-5-hours\/","title":{"rendered":"CyberKongz NFT minting burns $4M in Ether in 5 hours"},"content":{"rendered":"\n
The current trend in nonfungible tokens (NFT) with animal themes<\/a> has been such a sensation that it has become the top consumer of Ethereum transaction fees in the last 24 hours.<\/h5>\n\n\n\n
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CyberKongz, which began as a collection of 1,000 unique NFTs in early March 2021, has recently experienced a boom in popularity.<\/p>\n\n\n\n

In terms of Ethereum fee burning, it has now surpassed NFT marketplace OpenSea\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> and the world's most popular decentralized exchange, Uniswap.<\/p>\n\n\n\n

Wu Blockchain, a Chinese blockchain publication, recognized the milestone, reporting that it had consumed 1,240 ETH (about $4 million) in under 5 hours.<\/p>\n\n\n\n

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Gas prices have skyrocketed as a result of the widespread monkey minting, with average transactions reaching a high of roughly $25, their highest level since late May.<\/p>\n\n\n\n

For more sophisticated tasks, like smart contract interactions<\/a>, Etherscan's gas tracker is reporting prices of above $40.<\/p>\n\n\n\n

The ETH fee burning tracker ultrasound.money said that CyberKongz VX had been guilty for the burning of 1,430 ETH, or $4.7 million, in the previous 24 hours at the time of writing. It still outperformed both OpenSea and Uniswap, burning more than both of them together.<\/p>\n\n\n\n

According to OpenSea, the ape-themed collection already has 3,000 NFTs with over 600 owners and a floor price of 1.27 ETH (about $4,150). The most costly, the first in the series, was on the market for 10,000 ETH, or $33 million.<\/p>\n\n\n\n

According to the NFT collection's official website, the 34×34 pixel CyberKongz photos have gained a lot of traction as profile pictures on Discord and social media.<\/p>\n\n\n\n

A BANANA coin has also been created, allowing genesis<\/a> CyberKongz to make 10 tokens per day for the next ten years in a passive manner.<\/p>\n\n\n\n

On Sunday, August 15th at 19:00 UTC, a minting event went live for around 8 hours. Up to ten thousand CyberKong NFTs, including 3D ones that can be utilized in the metaverse, are available to mint.<\/p>\n\n\n\n

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OpenSea, where the newly minted CyberKongz is currently being sold on the secondary market, accounts for approximately 16 percent of the network's gas usage. In the last 24 hours, it has made $2.7 million in fees.<\/p>\n","protected":false},"excerpt":{"rendered":"

The current trend in nonfungible tokens (NFT) with animal themes has been such a sensation that it has become the top consumer of Ethereum transaction fees in the last 24 hours. CyberKongz, which began as a collection of 1,000 unique NFTs in early March 2021, has recently experienced a boom in popularity. In terms of […]<\/p>\n","protected":false},"author":12,"featured_media":8006,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[62],"tags":[2228,148,147,1588],"class_list":["post-7991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nft-news","tag-cyberkongz","tag-ether","tag-nft","tag-token-burn"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/CyberKongz-NFT-minting-burns-4M-in-Ether-in-5-hours-scaled.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=7991"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/8006"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=7991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=7991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=7991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}