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Stoner Cats Sale Clogs Up Ethereum Network!

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Agr8buzz
@agr8buzz
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3 min read

The cats are back on Ethereum for another cash grab and to prove once again Ethereum can't scale, yeah so when eth 2.0?

I'll report on all things NFT's and this is actually a pretty cool use case with some familiar hang ups as you'll see..

Is Ethereum even the best chain to build on now?

I would argue this should be built on Polygon and the fact it was built on Ethereum leads me to believe it's essentially a cash grab.

Celebrity endorsements galore, built on a slow and expensive network, this has all the markings of a group looking to cash in on the popularity of NFT's.

In all fairness at this point I have to assume that the sheer volume of secondary market for NFT's is the real reason this project went ahead on ETH. The NFT scene isn't as popping on Polygon yet, that said there are NFT bridges ready to move assets over to the faster network.

What Is Stoner Cats

This teaser video explains everything pretty much so I'll just let you watch this and you'll be all up to date. Wait, this video explains nothing, it's just a teaser.

https://www.youtube.com/watch?v=aq9O6On7Ju4&t=21s

Turns out Stoner Cats is actually an animated TV series, and is essentially only available through subscription which requires the purchase of an NFT.

Finished with your subscription, then you can sell it to someone else. Owning a Stoner Cat NFT is the only way to watch the animated series, backed by celebs Mila Kunis, Vitalik Buterin, Ashton Kutcher, Seth MacFarlane, Chris Rock, and Jane Fonda.

So here’s the thing, the only way to watch Stoner Cats is if you own a Stoner Cats TOKEn. If you own the collectible NFT, you gain membership to a super cool club. That club is your admission to the show. PLUS you’ll get access to exclusive stuff and fun perks.

The use case here is pairing content subscription models with NFT's!

Thus providing people with "exclusive access" to the content they demand and giving them options to sell it later on secondary markets!

Stoner Cat NFT's Sell Out in 35 Meow-nutes

NFT's are now available on secondary markets such as Opensea.

On Chain data from Defiprime showed that while the sale was initiated gas fee's ranged between $10-$34.

Congrats on selling out in 35 minutes, but when one single project sells assets and the network needs to charge $34 for people to be competitive there's still a problem.

Glad to see new NFT projects are still catching peoples attention on Ethereum but the days are numbered as faster and cheaper options emerge.

There's billions in value locked on polygon, lots of cash to be tossed around, more than $8 Billion to be exact!

For more info on the Stoner Cats animated series and NFT you can check out their website here.

Ciao for now,

@agr8buzz

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