One of ETH’s Oldest NFT Project Might Release its $16 Million Project for Free
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MoonCats, one of ETH’s oldest (and nearly forgotten) NFT projects, might consider releasing its Genesis project valued at $16 Million for free.
After the non-fungible token (NFT) boom that occurred after the auction of a famed artist named Beeple, MoonCats re-emerged from the back of everyone’s minds and gained some considerable attention.
In just a couple of days, 25,344 digital cats were bought and currently trades for an average of $1,800. “Genesis MoonCats” remain locked up and only Ponderware, the developers of MoonCats, are authorized to release them to new owners.
In order to get their claws on the exclusive and rare digital kitties, some have set up bots that automatically purchase the cats as soon as they are released.
The developers and MoonCat holders are not pleased with this as they think that the bots will ruin the fun and are considering locking up the remaining Genesis MoonCats forever. Foobar, a MoonCats holder and community developer who have recently “rescued” around 50 cats, said that most people do not have the capacity to program their own bots. He adds that it provides an unlevel playing field to average users.
The developer launched a smart-contract poll for MoonCats users on March 17, asking if the MoonCatRescue developers should destroy their private key so that Genesis MoonCats will no longer be launched in the future.
Should the majority vote for “yes”, the private key of the wallet storing the cats will be deleted. If “no” has the most votes, the private key will not be deleted and the developer will come up with a fairer distribution method.
As of now, the majority of the respondents are agreeing to destroy the private key.
[ Read more: NFTs Explode into a US$1 Billion Business ]
[ Read more: Binance BNB could Be A Strong Contender for NFT Blockchain ]
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