Profile Picture (PFP) NFTs are all the rage today as can be seen with Bored Ape Yacht Club (BAYC), CryptoPunks, lately Azuki, and more. With PFP NFTs getting so much hype, it makes sense that CyberKongz is also gaining traction. CyberKongz are unique, randomly generated 2D/3D NFT social avatars for online experiences. There are a total of 5,000 CyberKongz in this NFT collection, all of which are currently live.
The floor price, the lowest an NFT is currently available in the market, of CyberKong is 6.7 ETH, according to OpenSea. It was in March 2021 that the Ethereum-based NFT project by the artist myoo first went live with 1000 unique gorilla Avatars minted for 0.1 ETH each. Each of these animal-themed CyberKongz NFT has a variety of traits, ranging from common to rare.The most expensive CyberKongz NFT ever sold was CyberKong #40 for $470.4k, which has clear glasses, fangs, green tie, and head mirror, the last being it’s most rare of traits which only 0.58% of CyberKongz NFT has.
CyberKong #505, whose traits include clear glasses, grin, mole, and an orange beanie meanwhile was sold for $454.9k, while the third most expensive was CyberKong #914 for $450.5k with its genesis trait including having its tongue out and donning black sunglasses, cigarette, and green bandana.
What makes them so exciting?
Profile Picture (PFP) NFTs are growing in popularity thanks to being a way to show them off on social media, especially Twitter. This event led the social media giant to allow its users to verify their PFP NFT but is currently limited to Twitter Blue subscribers on iOS devices. According to Esther Crawford, the company’s product lead for the effort, by launching NFT profile pictures, Twitter is positioning itself as the social network for the discovery, conversation, and education around all things NFT, blockchain, and crypto technology. NFT profile pictures will be clearly distinguishable from regular profile photos by appearing as hexagons rather than the standard circles across the social app.
Now, Reddit is also working on a similar feature. “We’re always exploring ways to provide value for users and communities on Reddit. At the moment, we’re testing the ability to use NFTs as profile pictures (avatars) and verify ownership,” said Tim Rathschmidt, spokesperson of Reddit. With everyone jumping on this trend, PFP NFTs surely have a bright future. But what makes CyberKongz appealing to the audience is their unique 34×34 pixelated images that are used on Discord and other social platforms as profile pictures. But CyberKongz are more than just PFP NFTs. It is an ecosystem that also has its own token called Banana, which sits at the core of the CyberKongz universe. The owners of Genesis CyberKongz NFT are being rewarded with 10 BANANA tokens per day for simply holding the NFT. These tokens amounted to about $190 at their current prices and at one point was worth as much as $122.48.
10 banana tokens are being generated daily by each of the 1000 genesis CyberKongz. And they will continue to do so for the next 10 years. This will produce a total of 3.65 million BANANA tokens per year. Currently, there are 558015 Banana tokens in supply. As of writing, Banana is a $10 million market cap token that is trading at $17.50, down over 86% from its all-time high of $122.48 hit in early October 2021. The token is available on the decentralized exchange (DEX) SushiSwap and WETH/BANANA is the only available trading pair. However, BANANA is a utility token and not an investment as such “has no economic value,” as per CyberKongz website. These banana tokens fuel the CyberKonz ecosystem and are being used to create baby Kongz by burning 600 banana tokens. While BabyKongz is similar in appearance to Genesis Kongz, they do not yield the 10 bananas daily and are capped at 4000 in total.
In August 2021, Genesis and BabyKongz also evolved from just being avatars to being fully playable voxel Kongz, CyberKongz VX avatars, that are used in The SandBox game.
With a surge of 207%, CyberKongz VX actually recorded $24.67 million in sales volume in the past 30-days, slightly more than CyberKongz’s $24.17 million, but the latter only had a 34% increase in its volume. While CyberKongz VX has been more popular in the past month, overall CyberKongz did more sales volume at $172 million than CyberKongz VX, with the latter pulling in just over $94.5 million. BANANA tokens can also be used to unlock exclusive channels in the CyberKongz Discord server and to buy customized equipment and wearable items for CyberKongz VX avatars, as well as be rewarded for playing in their in-house games.
Roadmap
The CyberKongz Brand is all about social avatars and gamified collectibles with utility. Besides being used as avatars for the two-dimensional space, it is used as playable avatars on platforms such as The Sandbox. According to the team, The Sandbox game opens up the possibility for the community to create community games and experience with their uniquely owned CyberKongz VX avatars. They used VoxEdit to create this randomly generated NFT collection CyberKongz VX.= These 1000 unique and randomly generated CyberKongz are continuously evolving to form a strong core community. This led the team to launch BANANA as a utility token, then the new Baby CyberKongz, and just three months after that CyberKongz VX. This 3D Voxel collection consists of 15,000 models to be used and playable in the upcoming metaverses.
CyberKongz VX Launch, according to the project’s roadmap, is just level one. To get its users their very own CyberKongz VX Metaverse Avatar, virtual gaming world The Sandbox and CyberKongz VX teamed up to release the NFTs playable avatars game. In “The Sandbox,” metaverse games and experiences will be built on the CyberKongz-owned LANDS. A LAND is a digital piece of real estate in The Sandbox, which is used by game designers to build digital experiences. Each LAND is a unique, non-fungible ERC-721 token on the Ethereum blockchain, and there will only ever be a total of 166,464 LANDs available.
In the next level, the project launches Banana Shops on Kongz Island, which are now selling equipment. These shops will allow players to customize their avatars’ appearance and gameplay by purchasing bespoke CyberKongz VX equipment and outfits. This SHOP brings even more utility and benefits for the Banana Token and the 2D CyberKongz. Next in the roadmap is the expansion of the utility of the NFT to make CyberKongz Guilds, which connect Axie Infinity, Guild of Guardians, and Embersword, only accessible to those who own multiple CyberKongz.
Back in July last year, CyberKongs partnered with Metakey, a utility-focused project granting holders unique benefits throughout the Metaverse. With this, the idea has been to promote interoperability as Metakey is designed to be a one-size-fits-all solution for all of your Metaverse needs.
CyberKongz’s exclusive merchandise meanwhile is currently available on Uniqly, a platform that bridges the physical and digital gap through Wearables 3.0 by making them redeemable. Anyone who owns CyberKongz: Genesis, Baby, or VX can mint pieces and redeem them for real-world goods.
Bottom Line
CyberKongz is another exciting PFP collection, which is seeing an increase in its popularity, as can be seen in their rising floor price thanks to their scarce nature as there would only ever be 1,000 in circulation.
This PFP NFT collection also allows its holders to gain passive income with BANANA tokens which users can either sell or use to rename their Kongz or alter their Kongz’ biography. The token also unlocks exclusive benefits for its users in the CyberKongz Discord server, allowing them to participate in the CyberKongz community and flex their Genesis status.
