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Demand For Stoner Cats So High That It Caused Chaos For Ethereum

Cats clogged up Ethereum (CRYPTO: ETH) once again as the buzz surrounding Mila Kunis’ animated series “Stoner Cats” led to a scramble for the show’s non fungible tokens or NFTs.

What Happened: Dune Analytics data indicates that there was a total of 344.4 ETH, or $793,000, in value lost thanks to Stoner Cat transactions.

In 2017, Dapper-Labs-created CryptoKitties had infamously broken Ethereum’s blockchain.

See Also: How To Buy Ethereum (ETH)

The animated series’ Twitter handle revealed that the tokens had been sold out in a matter of minutes.

Gas prices rose as collectors snagged the first tranche of Stoner Cats which had a limited supply of 10,420 NFTs and were priced at 0.35 ETH each or nearly $804.

Decentralized Finance or DeFi analytics company DeFi prime noted the sharp rise in the Gas fee.

Ethereum traded 6.44% higher at $2,307.82 at press time over 24 hours. The second-largest cryptocurrency has soared 28.67% for the week.

Why It Matters: Stoner Cats feature Jane Fonda, Ashton Kutcher and Ethereum co-founder Vitalik Buterin and are produced by Mila Kunis.

See Also: Reddit Co-Founder Says Gaming To See Major Strides In 2021 — Combine That With Blockchain And It’s ‘100x Bigger’

Buterin voices “Lord Catsington ‘The Spirit Guide,’” in the series, which uses NFTs as per a member of the team to circumvent censorship concerns and for creative control purposes.

Buterin touched on NFT potential in March, saying he sees them as worth more than just a “Casino” for wealthy celebrities.

As per the Stoner Cat website, 3000 more new NFT’s are expected to be released during the first season of the adult animated show. 

Read Next: Bitcoin, Ethereum Surge, Dogecoin Stable, Axie Infinity Top Gainer As Crypto Market Moves Past The Amazon Jolt

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