Polkamon NFT Eggs Generate Over $1 Million in Gas Fees

Share Article
In Brief
  • Polkamon have become the latest NFT craze.

  • As much as $90,000 has been bid for one of the rarest dragons.

  • POLS token prices climbed 26% since the IDO was announced.

  • promo

    Want to learn how to trade? Get a beginners guide from _BeInCrypto Academy_ now!

The Trust Project is an international consortium of news organizations building standards of transparency.

The latest project to embrace the non-fungible token (NFT) craze is Polkastarter. It launched a series of Easter-themed collectibles called Polkamon.



Polkamon are animated digital collectibles that were created using unique NFTs. The platform announced an IDO (Initial DEX Offering) for a PMON token on the Polkadot-powered exchange, Polkastarter. The IDO will commence on March 31.

More than 125,000 unique addresses have claimed their mysterious Polkamon eggs which were issued on Ethereum.



“In gas fees alone, we estimate Polkamon fans have spent more than $1 million claiming eggs for their chance to participate in our upcoming IDO on Polkastarter.”

Not every egg hatched into a NFT however and some were a little disgruntled at spending the gas.

Polkamon NFT Hatching on OpenSea

The OpenSea NFT marketplace is hosting the collection, and it’s already generating quite a stir. At the time of press, the rarest collectible called the “Moonrock x Morningstar Babydragon” has a bid of 16 ETH, or $28,600.

The ‘Polkastarter Babydragon’ beats that with a 50 ETH bid at almost $90,000 at current prices. This one is a special award for POLS holders, who took part in the Polkamon IDO.

The POLS pool had 100 Polkastarter Baby Dragons allocated to it, while the community pool offered an allocation of 80 Silver Baby Dragon NFTs.

One of the largest incubators and early-stage investors in the Polkadot ecosystem, Moonrock Capital, is behind the Polkamon collection in partnership with Morningstar Ventures.

Managing Partner at Moonrock Capital, Simon Dedic, called it the most exciting IDO ever in a tweet on March 30:

“Smart people are already setting bids for those on Opensea, as they won’t just get a $POLS whitelisting spot in return, but also one of the rarest Polkamons existing. Most exciting IDO ever”

The winning addresses were chosen based on 380 random numbers fetched from the Chainlink Oracle on the Polygon Network. The NFTs are currently being minted and the winners were announced on the Polkamon blog.

POLS Price Update

Polkastarter has its own native governance token POLS, which was trading up 4% on the day at $4.08 according to CoinGecko. The token is up by 26% since the IDO announcement on March 25.

POLS hit an all-time high of $6.50 on Feb. 17 but has fallen back since. There are 60 million circulating POLS, giving it a current market cap of $247 million. Polkamon’s PMON tokens have yet to launch on the DEX.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Share Article

Martin has been writing on cyber security and infotech for two decades. He has previous trading experience and has been actively covering the blockchain and crypto industry since 2017.

Follow Author

Trade with the Best Crypto Signals - guaranteed profits with over 70% accuracy

Join now

Want to learn how to trade? Get a beginners guide from BeInCrypto Academy!

Learn now

Bybit Bonus Bash. $1,000 Bonus to be Won!

Join now