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Someone Just Paid 200 ETH Worth $553,000 in Gas Fees to Mint Tubby Cats NFT

Someone has just reportedly paid 200 ETH, worth $553,000 at the time of the transaction, to mint 1,000 non-fungible tokens (NFTs) from the Tubby Cats collection.

The new development was shared a few hours ago by a pseudonymous Twitter account known as cr0ss.eth.

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cr0ss.eth tweeted, “Someone just payed 200 eth ($553,064.19) in gas (not mint price just pure gas) on the Tubby Cats mint right now. Yes it went through & he got 1000 mints.”

In the last few days, the project has been a topic for discussion within the NFT community. On 22nd February, Tubby Cats became the number one project based on Trading volume on the largest Ethereum-based NFT marketplace, OpenSea.

The 48-hour whitelist mint for Tubby Cats started on Monday. According to the report, the rest of the tokens have now been made accessible for everyone.

Another pseudonymous Twitter user identified as 0xngmi calculated gas prices and their respective cost per token. He then warned users to not attempt minting if they intend to bid below the gas prices he shared because it’s certain that such a transaction will fail.

0xngmi tweeted, “For people participating in public mint, these are the gas prices we’ll likely see (between the two columns) and their associated cost per tubby. If you are going to bid below these gas prices DONT PARTICIPATE IN MINT since your tx will fail. Also: always mint 5 tubbies.”

The project uses the “progressive reveal system,” which prevents NFT creators from purchasing the rarest items at significantly lower prices.

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The Tubby Cats NFT collection currently has 10,238 unique holders. It’s rapidly growing in popularity within the NFT community, especially on Twitter, giving users the reason to merry amid the ongoing price dip in the crypto market.

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A user identified on Twitter as hentai avenger also emphasized Tubby Cats’ rapid increase in popularity within the Twitter space.

hental avenger tweeted, “on the verge of a global economic collapse and all i see are tubby cats on my timeline so fkn based.”


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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