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Stoner Cats bring Ethereum to its knees: 10,000 NFT in 35 minutes

Stoner Cats: animation series for adults. (Image: Orchard Farm Productions)
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On Tuesday, 10,420 Stoner Cats went over the virtual counter as NFT at Opensea. The Ethereum network was briefly overloaded and the fees on a peak.

The 10,420 Stoner-Cats-NFT (Non-fungible-Token) developed by actress Mila Kunis’ company “Orchard Farm Productions” were offered for sale yesterday at a price of 0.35 ETH each. That corresponded to a unit price of 785 US dollars.

The entire inventory was sold within 35 minutes. This brought in almost $ 8.2 million in total. This can undoubtedly be seen as a success.

Ethereum groans under the burden of selling 10,000 NFT

In addition to the failed transactions, the sale of Stoner Cats also led to a surge in transaction fees, the so-called gas fees, which ranged between $ 9.5 and $ 33.

"As usual, cats have clogged Ethereum," scoffed the decentralized financial analysis company De-Fi-Prime on Twitter - an unmistakable A Allusion to the popular NFT project Cryptokitties, which caused an overload of Ethereum at the end of 2017.

Stoner Cats is an adult animation series

The hype about Stoner Cats is not really surprising. After all, many celebrities lend their voices to cats, including Kunis himself, Ashton Kutcher, Jane Fonda, Seth MacFarlane, Chris Rock and Ethereum co-founder Vitalik Buterin, who speaks the late cat Lord Catsington.

Just one day after the initial auction, some of the NFTs are up for sale again. An NFT, Buterin's character, is currently being offered on the OpenSea NFT marketplace for 77 ETH (around $ 176,000).

NFT are tickets for watching the series

With the acquisition of the NFT, the buyers have secured the rights to use the Stoner Cats The series on the project website. The first episode, entitled "Stoned Awakening," is slated for release on July 29, 2021. To view them, the owners of the NFT need to connect their Ethereum wallets to the project's website. In the course of the broadcast of the series, new NFTs are to be sold again and again in order to finance further production.

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Derrick Santistevan
Derrick is the Researcher at World Weekly News. He tries to find the latest things going around in our world and share it with our readers.

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