A user paid 200 ETH ($553,000) in gas fees to mint 1,000 Tubby Cats NFT

A user paid 200 Ether ($553,064) in gas fees to mint 1,000 NFTs from the hot Tubby Cats collection. In total, it costs 300 ETH ($785,640) to mint 1,000 of these tokens.

A user paid 200 ETH ($553,000) in gas fees to mint 1,000 Tubby Cats NFT -  CoinCu News

Tubby cats

The project has become a focal point in the broader NFT community. On February 22nd, Tubby Cats became the number one project on OpenSea, the leading NFT marketplace by trading volume.

The 48-hour whitelist minting process began on Monday. The rest of the tokens are widely distributed to the public.

Twitter user 0xngmi calculated the gas price and associated costs for each NFT.

“For those involved in the public coinage, here are gas prices (middle column) and associated costs per tubby. If you bid below these gas prices, do not participate in the minting as your TX will fail.”

At press time, the project’s “floor price” currently stands at 0.48 ETH ($1,291).

The Tubby Cats collection, which numbers 20,000, now has 10,238 sole owners.

Recently, these cute feline creatures have become the new darlings of NFT Twitter, providing a much-needed distraction amid the ongoing crypto regulatory landscape.

The project uses a “progressive discovery system” that prevents NFT creators from getting their own rarest item for significantly less. As the name suggests, the “Tubbys” will be revealed in batches of 1,000 collectibles over time.

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