16.6 C
New York

MoonCats: Almost-Free NFT Collectible Felines Are Selling for a Huge Markup

Date:

What the hell are MoonCats?

MoonCats, Ethereum-based collectible NFTs deployed on August 9th, 2017, have now all been rescued and are now finding their way onto marketplaces like OpenSea. Users could rescue cats (from the moon, naturally) at just the gas fee cost up until yesterday when all 25,600 had been rescued.

MoonCatsRescue employs an off-chain algorithm that requires users’ CPU resources to find cats. This allowed the MoonCats to be more equally distributed. At the time of writing, there are 1,644 holders.

The MoonCats contract allowed only 25,600 MoonCats to be added out of a possible 4 billion unique combinations. After this point, no more cats could be rescued. Users that have rescued MoonCats can name them, but only once; once a MoonCat has been named, it is permanent.

Interestingly, there are not really any rare cats. This is different from other collectibles such as CryptoPunks and may mean we see less extremely valuable cats, but all cats may hold a similar, equally good value.

Genesis MoonCat Sells for 100 ETH

There are 256 Genesis MoonCats, which are particularly rare cats that could not be rescued like the others. These Genesis cars are currently selling for 100 ETH on OpenSea, and others are listed for over 420 ETH. The average price for each non-genesis cat is 0.6673 ETH, significantly higher than the roughly $40 gas cost required to rescue the carts.

How can I get MoonCats?

Unfortunately, there are no more MoonCats available to rescue, but MoonCats can be purchased from marketplaces such as OpenSea or Rarible.

BitStarz Player Wins Record-Breaking $2,459,124! Could you be next to win big? >>>

Blokt is a leading independent privacy resource that maintains the highest possible professional and ethical journalistic standards.

  • Coinsmart. Europe’s Best Bitcoin and Crypto Exchange.Click Here
  • Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
  • Source: https://blokt.com/news/mooncats-almost-free-nft-collectible-felines-are-selling-for-a-huge-markup

This Post was originally published on Blokt

Related articles

spot_img

Recent articles

spot_img