Stoner Cats NFT’s Sold Out in Just 35 Minutes
The launch of Mila Kunis’s NFT project Stoner Cats has caused chaos on the Ethereum network. All tokens were sold out in just 35 minutes after the launch.
Initially, the launch of Kunis’s project was delayed due to an error discovered in the lower artistic layers. But the next day, just 35 minutes after the launch, all tokens were sold out.
As the first tranche of Stoner Cats sells out with a limit of 10,420 NFTs at 0.35 ETH each ($804), prices spike up drastically. The organizers of the project promised to release 3,000 more NFTs soon.
DeFiprime, a decentralized financial analyst firm, joked on Twitter: “As usual, cats clogged Ethereum.”
According to DeFiprime, gas charges have skyrocketed on the Ethereum network. For slow transactions, users had to pay in the range of 200 Gwei ($9.50) each, while a fast transaction cost up to 709 Gwei ($33.67).
Of course, there were many failed transactions. According to Dune Analytics, Stoner Cats lost a total of 344.4 ETH due to this problem, which equates to $793,000 at the time of writing.
The Stoner Cats Project, an NFT animated series, was launched by actress Mila Kunis in partnership with CryptoKitties co-founder Mac Flavell, CryptoPoops NFT creator Jonathan Howard and others as part of the Big Head Club project.
The characters in the animated series are voiced by Mila Kunis, Jane Fonda, Ashton Kutcher, Seth MacFarlane, Chris Rock and Vitalik Buterin. NFTs give the owner access to watch the show, and the project uses NFT’s sales to fund its production.
At the moment, Stoner Cat’s NFT featuring Buterin’s character is on sale for 77 ETH worth approximately $177,000 – a percentage mark-up of around 9,500%. An NFT featuring the character of Seth MacFarlane is on sale for 420 ETH, or more than $960,000.