Genesis CyberKongz NFTs rewarding holders with more than $900 in daily yields

Owning a CyberKongz NFT can now earn $300k a year by simply holding it in a wallet and collecting the daily rewards

In perhaps the first real case of NFT utility in the Metaverse, owners of a Genesis CyberKongz NFT are now being rewarded with 10 $BANANA tokens a day – worth more than $900 – by simply holding one.

Genesis CyberKongz are the first 1,000 CyberKongz that were released on March 1 and were originally touted as the “OG profile pictures of the 2D social world”.

They are part of the wider CyberKongz collection, which includes 3,852 pixelated apes that feature an array of attributes and accessories.

Ownership of one of the first one thousand Genesis Kongz now grants holders 10 $BANANA tokens – which are currently worth approximately $90 each – daily for the next 10 years.

Users can either sell their $BANANA tokens or use them to rename their Kongz or alter their Kongz’ biography.

The token also unlocks exclusive channels in the CyberKongz Discord server – an added bonus for those who are keen to participate in the CyberKongz community and flex their Genesis status.

Additionally, BANANA tokens can be used to buy customised equipment and wearable items for CyberKongz VX avatars – a collection of playable voxel-based avatars which reside in The Sandbox metaverse.

It’s now estimated that the current earnings from owning a Genesis CyberKongz NFT equate to around $270k a year – more than five times the average annual salary in the US.

Users in the CyberKongz community have noted the project’s incredible growth and how it solidifies the somewhat confusing popularity of ape-based NFT collections on both Ethereum and Solana.

CyberKongz owner ‘bastiboii.eth’ tweeted about the project’s incredible growth over the weekend and the surge of interest in owning a Genesis Kong based on the yield rewards.

Other members of the NFT community who missed out are now seeking to get one in any way possible, with one user even asking for one as a Christmas present.

Following the exponential rise in the highly sought-after Genesis CyberKongz collection, the minimum price you’ll have to fork out to own one is now an incredible $570k (169.69 ETH) due to their scarce nature and only 1,000 ever being in circulation.

The astonishing price floor has since led to record purchases and a sudden desire to own an ape before the price becomes unobtainable for NFT owners.

One user today paid a record 180 ETH ($601k) for Genesis Kongz #52 whilst another NFT ‘Whale’ – AvariceVault – has accumulated four Genesis Cyberkongz over the past 17 days for a grand total of 473 ETH ($1.6M).

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

telegram

Previous Article

Compound chief offers NFTs to people who return mislaid COMP tokens

Next Article

IMF calls for global crypto regulation

Read More Related articles

Latest Guides

Find in-depth articles, guides and videos designed to give you a better understanding of Bitcoin, DeFi, trading, security and much more.

Get started