Unknown person paid over $500 000 commission to mint an NFT

A crypto investor minted 1 000 NFTs from the Tubby Cats collection at a time

25.02.2022 - 12:45

192

1 min

What’s new? One Twitter user noticed that an unknown person spent 204 ETH (about $500 000) on a commission to mint 1 000 NFTs from the Tubby Cats collection. The creation of the tokens themselves cost the collector 100 ETH (about $240 000).

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 https://t.co/IlpgKjYgLF pic.twitter.com/T6iTTyALNG— cr0ss.eth (@cr0ssETH) February 23, 2022

What major NFT deals have there been before? In September 2021, the cryptocurrency exchange Bitfinex transferred 100 000 USDT stablecoins to the decentralized trading platform Deversifi. The commission for this transaction was 7 670 ETH (about $23 million at that time). The mining pool processing the transaction later recognized it as a software failure and returned the funds to Bitfinex.

There was also recently the most record-breaking deal in the history of the CryptoPunks collection. Chain CEO Deepak Thapliyal bought a token numbered #5822 for 8000 ETH, which is over $23,7 million. Many users thought it was either an advertising campaign to create hype around Chain or a money-laundering scam.

Author: