Someone Just Paid $553,000 in Gas Costs for Tubby Cats NFT Mint
Someone has paid half a million dollars in Ethereum gas costs to mint NFTs
someone has paid an eye-watering 200 Ether ($553,064) in gas costs to punch 1,000 non-perishable tokens from the red-hot Tubby Cats collection.
In total, it cost 300 Ether ($785,640) to store 1,000 tokens.
The project has become the talk of the town within the vast NFT community. On February 22, Tubby Cats became the number one project on the flagship NFT marketplace OpenSea by trading volume.
The 48-hour whitelist coin for the project kicked off Monday. The rest of the tokens became accessible to the public.
Twitter user 0xngmi calculated gas prices and the associated cost per token.
For people participating in public currency, these are the gas prices we’re likely to see (between the two columns) and the associated cost per tubby.
If you are going to bid below these gas prices DO NOT ENTER MINT as your tx will fail.
Also: always mint 5 tubbies pic.twitter.com/TtfieJbkNV
— 0xngmi (@0xngmi) February 23, 2022
At the time of writing, the project’s “bottom price” currently stands at 0.48 ETH ($1,291).
The Tubby Cats collection, which consists of 20,000, currently has 10,238 unique holders.
Recently, these adorable feline creatures have become the new darlings of NFT Twitter, providing a much-needed escapism amid the ongoing cryptocurrency correction.
on the brink of a global economic collapse and I only see fat cats on my timeline
so fkn based
— hentai avenger (@hentaiavenger66) February 21, 2022
The project uses the “progressive reveal system”, which prevents NFT creators from buying the rarest items for themselves at significantly lower prices. As the name suggests, the “tubbies” are gradually revealed during the coining process in batches consisting of 1,000 collectible items.