The latest craze in animal-themed nonfungible tokens (NFT) has proven to be such a big hit that it has risen to the top of the list of the most expensive Ethereum transaction fees over the past 24 hours, according to CoinMarketCap.
A recent surge in popularity has been witnessed for CyberKongz, which began as a collection of 1,000 one-of-a-kind NFTs at the beginning of March 2021.
So much so that it has today surpassed both the NFT marketplace OpenSea and the world’s most popular decentralized exchange, Uniswap, in terms of the amount of Ethereum fees that are burned.
Among those who took notice of the achievement were the Chinese blockchain outlet Wu Blockchain, which reported that it had burned 1,240 Ether (ETH), or approximately $4 million, in five hours.
The NFT project CyberKongz VX has burned more than 1,240 ETH in 5h, ranking first in the burning list. pic.twitter.com/5ZCfZmqcU2
— Wu Blockchain (@WuBlockchain) August 16, 2021
Since the start of the monkey minting campaign, gas prices have risen dramatically, with average transactions reaching their highest level since late May at approximately $25.
When it comes to more complex operations, such as smart contract interactions, Etherscan’s gas tracker is reporting higher prices of more than $40.
ETH fee burning tracker Ultrasound.money reported at the time of writing that CyberKongz VX had been responsible for the burning of 1,430 ETH, or $4.7 million, over the previous 24 hours, according to the site.
It was still significantly ahead of both OpenSea and Uniswap — in fact, it burned more than the combined output of the two.
Ape-themed NFTs currently number more than 600 owners and have a floor price of 1.27 ETH (approximately $4,150) per NFT, according to OpenSea. There are 3,000 NFTs in the ape-themed collection, with more than 600 owners.
For a whopping 10,000 ETH, or $33 million, the most expensive piece in the collection, the first piece in the collection, was on the market.
It is stated on the official website for the NFT collection that the 34×34 pixel CyberKongz images have gained widespread popularity due to their suitability as profile pictures on Discord and other social media platforms.
A banana token has also been created, granting genesis CyberKongz the ability to generate 10 tokens per day for the next ten years while remaining completely passive.
The minting event went live on Sunday at 19:00 UTC. Up to 10,000 CyberKong NFTs are available to mint, including 3D ones that can be used in a metaverse.
THAT WAS SO FAST!⚡️
Big thanks to everyone who got CyberKongz VX!♥️
There were some hickups right after the mint but we got it all worked out!
If you want to buy CyberKongz VX on secondary market, please make sure you buy from the correct collection:https://t.co/yuvSDKClCV
— CyberKongz (@CyberKongz) August 15, 2021
On the network, OpenSea, where the newly minted CyberKongz are now being sold on the secondary market, is responsible for nearly 16 percent of all gas consumption.
Over the course of the last 24 hours, it has generated $2.7 million in fees.