CyberKongz arrived relatively early in the NFT space compared to most projects. They started their genesis collection of 1000 NFTs in early March 2021. In a year, they have grown and expanded into a thriving community with an ecosystem of interconnected pieces, and they have a strong presence in many metaverse platforms.
The artist “myoo” created 1000 randomly generated 34×34 pixel-art kongs. At first, their genesis collection’s main use case was as a profile picture on social media, but soon an idea to make CyberKongz into a community-based project emerged.
This attracted developers and experts in the NFT and De-Fi space, who offered their skills and time to implement the ideas provided by the community.
There are seven people on the “Council of Kongz,” and this is currently the team behind the project. The roadmap they posted on their official website was completed on 15th August 2021. They did not post an updated version yet, but they regularly post updates and developments on their blog.
NFTs
Three different NFT sets are a part of the CyberKongz ecosystem. The genesis collection of 1000 NFTs was sold in March 2021 for just 0.01 eth. They have different rarity traits, and there are 10 Legendary NFTs among them that were sold separately. There was no pre-release or advertising campaign, a lot of attention was quickly brought to it by NFT enthusiasts who discovered the minting process on Opensea.io and shared their interest on social media at a time when nobody was talking about profile picture projects.
The price remained stagnant in the 1-3 Ethereum range for a few months after their launch and then exploded to a floor of more than 80 Ethereum in the Summer and Autumn of 2021, with a few sales above $500k. The genesis CyberKongz is now trading just slightly above 20 Ethereum.
Their second collection, Baby CyberKongz, could be minted with 600 $BANANA tokens and two genesis kongs. They have achieved a floor of 15 Ethereum at some point in 2021. They have declined in value and are currently trading at around 2 Ethereum.
CyberKongz VX is the latest, largest, and cheapest collection, created with the intention of mass adoption.
They are a 3D voxel art collection of 15.000 designed in a way that fits into many metaverses. These were launched three months after Babies and now sit at a floor of 0.6 Ethereum. The team refers to them as “the next logical evolution” for the CyberKongz project.
There are around 440 unique holders of genesis CyberKongz, about 2100 unique holders for baby CyberKongz and only 2700 holders of VX, which is relatively low for a 15.000 NFT collection.
CyberKongz has expanded into many metaverse NFT land projects.
Their recent venture into Gridcraft as one of their genesis partners is the latest. Still, they have also acquired land in already established projects such as Sandbox and Axie Infinity and some lesser known ones such as Arcade Land, Ember Sword, Guild of Guardians, and Nemus.
They have a noticeable presence in The Sandbox metaverse with three estates:
- A 3×3 land plot they call “The Shrine of Kongz”
- A 12×12 estate “Neo Kongz City”
- A huge 24×24 land called “The Kongz Island”
Token
Shortly after the genesis collection launch, the $BANANA token was created. This was an innovation back then; they were the first to have a yield token built into the smart contract and have thus successfully implemented the connection between ERC-20 (tokens) standard and the ERC-721 (NFTs). Many other NFT projects have followed in their footsteps and have their native tokens.
$BANANA was mainly used for breading and incubating Baby CyberKongz until all 4000 were minted.
By burning the tokens, holders of CyberKongz can give their NFTs unique characteristics such as a name and biography.
Since its launch, the $BANANA token has been on a steady downtrend from around $10 to $1. The genesis CyberKongz yields 10 $BANANA tokens daily, which is still approximately $10 daily, or about $300 monthly passive income.
Closing Thoughts
Although the crown jewel of the CyberKongz ecosystem is the genesis kongs, they are expensive at 25 eth floor. That is also where the main utility lies with token yield and alpha chatrooms. You can gain exposure to their ecosystem by purchasing less expensive NFTs such as Baby CyberKongz or VX’s and still reap some benefits.
Their project aims to gamify the experience of owning a kong, and a lot of effort is spent on creating ways to reward holders through various play-to-earn mechanisms in different games they are partnered with. They also have their own “Play & Kollect” – a fully on-chain game built on Polygon for an almost no-fee experience.
