How to value your CyberKongz NFTs
CyberKongz started as a collection of 1000 unique and randomly generated non-fungible tokens (NFTs) released in early March 2021. Since then the collection has emerged as a community-based project boasting three iterations of gorilla-themed NFTs and even the introduction of the BANANA utility token.
The growth of the interest of CyberKongz has been continuously evolving and thus the CyberKongz all-time trading volume has reached 41k in ETH, or about $131.2M. While the CyberKongz VX, featuring upcoming interoperability with The Sandbox, hit a trading volume of 18k in ETH, or about $59.47M. In addition, the introduction of BANANA tokens has given NFT holders a passive income.
Table of contents
Introducing the CyberKongz alternative reality
Genesis CyberKongz
Baby Kongz
CyberKongz VX
The utility of BANANA token
Closing thoughts
Introducing the CyberKongz alternative reality
The gorilla-themed NFTs release took place on the 5th of March 2021 for 0.01 ETH on OpenSea.There was no advertising campaign prior to launch, however the project quickly gathered the attention of NFT enthusiasts who first came across the minting process on Opensea.io and spread their interest on social media. So, pixelated Kongz expanded as a profile picture on Discord and on social media, at a time when no one was talking about projects with profile pictures. Since then, the collection continued to rise driven by the community.
For now, CyberKongz NFTs come in different variations. Precisely, CyberKongz has already shown three iterations of gorilla-themed NFTs.
Genesis CyberKongz
These were the first 1000 CyberKongz to drop. All different varieties and attributes were created manually in Photoshop by the artist myoo, then randomized with different rarities using a script. The ten legendary CyberKongz were completely done manually from start to finish. In other words, every CyberKong is unique and owns randomized attributes with different rarities. A few are super rare and even animated.
Also the genesis series are the only ones in the collection that reward holders with daily BANANA rewards. Indeed, each Genesis Kong yields 10 $BANANA every day for the next 10 years. The BANANA tokens are currently worth about $46 each providing Genesis Kong holders with a solid passive income.
The genesis Kongz are by far the most popular with the floor price currently sitting at 7 ETH. For instance, the CyberKong #500 and #829 were both sold for a record 215 ETH, or about $421k, at the time of sale.
Baby Kongz
Baby Kongz can be produced by breeding two Genesis Kongz, however traits of the Genesis CyberKongz are not inherited. These are cute versions of the Genesis Kongz but with 40 more new traits mixed in.
For instance, one of the Baby Kongz which is pink gum kong #2161 was sold for 6.9 ETH. Even though Baby Kongz don't have the ability to yield BANANA, they do provide an extra layer of fun.
CyberKongz VX
CyberKongz VX is currently the latest step in the CyberKongz evolution. These are unique and randomly generated 3D NFT Social Avatars built to be used in online metaverse environments and upcoming interoperability with The Sandbox. Those holding at least one Genesis CyberKong or one Baby CyberKong were able to claim a free CyberKongz VX. More recently, the files for a CyberKongz VX 3D printing model were released, giving holders the ability to download the obj printable file and bring their Kongz live.
Currently, the CyberKongz VX NFT floor price sits at 1.18 ETH. For instance, the legendary CyberKongz VX sith #1000 was sold for 120 ETH.
The utility of BANANA token
$BANANA is the utility token that fuels the CyberKongz ecosystem. This token can be claimed and used to change Kongz name and bio, and initiate the breeding protocol to produce Incubators. Additionally, BANANA tokens can be used to buy customised equipment and wearable items for CyberKongz VX voxel avatars.
But what is most important is the earning mechanism involved for Genesis NFT holders. As mentioned above, Each Genesis CyberKong is able to claim 10 $BANANA tokens per day for a period of ten years. This means that Genesis CyberKongz will produce a total of 3,650,000 $BANANA tokens per year, over a period of ten years. Considering the current token price, this is quite an interesting passive income to have.
Closing thoughts
The CyberKongz collection is an excellent example of the importance of community involvement. Indeed, all this enthusiasm has allowed the collection to grow and evolve successfully (by the way, the CyberKongz Twitter account currently has over 76k followers). In addition, it accumulates both utility and amusement as DeFi meets NFT. With the solid future direction set in place, the project promises an interesting further development.