Since the amount of new projects with imperishable symbols, generated by algorithms, reduces the premium for digital scarcity, digital history and being the first has become a more reliable source of value. The results reveal projects that hacker researchers have long forgotten, and yesterday they may have discovered gold in their greatest discovery.
At 07.00 UTC on March 12, Twitter user and NFT collector “ETHoard” posted a short post about what could be the second non-perishable collectibles project launched on Ethereum, MoonCats.
According to Etherscan, the MoonCatsRescue contract is 1310 days long and was first written in Ethereum on August 9, 2017. This means that MoonCats is ahead of CryptoKitties, an NFT project known as the popularization of NFT, for a period of three months and is also less affected than CryptoPunks, an Ethereum AND NFT project.
Soon, users began to understand how to interact with contracts manually via Etherscan, since the site interface has long been gone. MoonCat debuted in 992 days of digital life at 14:52 UTC.
At the time, users reported that the cost of interacting with the ‘save the cats’ contract ranged from $ 50 to $ 200 (some suggest that gasoline prices rose due to mining demand for MoonCat), and the cost of packaging There have been over 200 cats on the market listed by NFT Opensea. All 25,600 cats were affected within a few hours.
The base price of Opensea cats has risen to 0.8 ETH at the time of publication, with a net income from cats of approximately $ 1000 per cat. It was a 715 ETH event that took the project to the top of various leaderboards and new fronts created by the community emerged.
Some have compared the fascinating story to a form of digital archeology in which treasure hunters have found a lost story:
“In my opinion, what we saw yesterday is the digital equivalent of discovering historical artifacts,” said collector MoonCat Elmo. “While this may seem like an exaggeration now, I think history will turn to these seemingly primitive works of art as the first steps towards the development of digital art.”
Elmo publishes strange statistics and MoonCatRescue digital footprint records, including a Reddit thread where users said it was worth 50 cents to chase a cat. He also notes that the project is a rare example of a truly “just liberation”. The contract was available and open to the public for many years before the community was overwhelmed by the winds and its popularity exploded.
MoonCats are not the only gold mining historians and investigators discovered in recent days. Attempts have been made to revive other projects that society considered underestimated. Nate Hart then collects and develops a surprising demo of his Chainfaces project, one of the oldest NFT projects, which contains all the relevant metadata for the series earlier this month, after months of relative stagnation.
Now the question becomes what lost contracts are accumulating online at Ethereum?