Another Cat-mania Clogged Ethereum—but is Welcomed!
NFT fans have an uncanny love for Cats
“If I’ve ever offended you, just know that from the bottom of my heart, I really don’t give a sh*t.”
Those are the immortal words of the world’s naughtiest bear in the movie Ted.
Talking of Ted—which you should definitely watch at some point, it featured one Mila Kunis.
She’s talented both in acting and her social and business choices. Her partner, Ashton Kutcher, needs no introduction. Kutcher has it all; the looks, the glamour, and yes, the girl.
How about we focus on the lesser known aspects of this dude instead.
Like him being an avid tech enthusiast--Yeah, the man is keen on tech, often making investments, and has an eye for crypto (obviously). Kutcher has scooped some really high ROI from some of his calculated crypto investments.
He’s a shrewd investor.
Mila seems to have taken the cue.
Because just the other day, her Orchard Farm Productions broke Ethereum.
She did her homework and realized that folks here love cats and so she went back and came back with Stoner Cats.
Cats smoking weed?
Well, this could get interesting.
Just in case you are wondering why you have been shelling close to $9 in single smart-contracts free transfer in the past few days, Mila Kunis’ firm’s NFTs were the reasons why.
The jostling by the community for her masterpieces clogged the chain. Soon enough, there was a 3X rise in Gas from $3 to slightly above $9—for normal transfers—the figure was even higher for heavy Gas guzzling transfers.
Beginning July 27, 10,420 “sentient” Stoner Cats were available for sale.
All of them were sold in a record 35 minutes netting the team close to over $8 million.
And it wasn’t an auction.
If you wanted a piece of any of these high-value NFT, all you had to do is shell out 0.35 ETH—a fixed fee.
As expected, it was a race, and winners had to outbid the competitor to get a hand on these gems.
In crypto, it seems, the first always pocket big profits in the secondary markets. Just for information, each NFT of Stoner Cats is upwards of $1.3k at OpenSea.
In the recent few days, since mid-May to be precise—when Vitalik Buterin decided to destroy mushrooming “dog” projects—Gas has been descending, shrinking to manageable levels.
However, it seems like Mila Kunis’ creations might just change this, helping miners line up their pockets—after all, they are a business, and GPUs are super rare—no, not the NFT marketplace.
The hype around these NFTs stems from its cast, which included revered celebrities—including Kutcher and Chris Rock—the comedian in other funny animated series like Shrek and Madagascar. The adult cartoon series also features Vitalik Buterin (he can’t sing—we know neither can he dance—lol), the lord himself.
On another angle, the series could also be the first animated show to be converted into an NFT, riding the subscription model and pay-walls.
As details emerged, the show was entirely funded from the sale of NFTs—each at slightly above $780 (0.35 ETH). Owners of would be granted access to the show’s content.
Going forward, the production team will continue doing voice overs, provided funding goals are met. In all, 3k NFTs would be minted each episode in subsequent series—as such, expect more network clogs.
This phenomenon, in all, is an irrefutable demonstration of blockchain and smart contracting power in action.
Indeed, not all tokens are pumps and dumps, and not all NFTs are mounds of garbage, as critics claim.
Mila Kunis's Orchard Farm Productions doing their homework and settling on NFTs as a new means of funding what would perhaps be the new model of raising capital is massive.
What they describe as “fan-driven, creator-friendly content” has been illustrated to be a mega success.
There will be a direct link between content creators and fans. All the “bureaucratic bullshit,” as they put it *bluntly, is thrown out the window.
Without red-tape and needless shenanigans, the creator's creativity is unbridled—resulting in content like Stoner Cats.
There might have been changes in Gas due to these collectibles, but developers are about to “rectify” the situation on Aug 4 when London visits.