Investor pays $553,064 in Ethereum gas fees to mint 1,000 NFTs

Investors are throwing in some crazy money on digital collectibles as the NFT space keeps growing. On February 24, someone spent $553,064 in Ethereum gas fees to mint NFTs.


On February 24, someone spent $553,064 in Ethereum gas fees to mint NFTs.
Ethereum Gas Fees

An investor paid an eye-watering 200 Ethereum (ETH) worth around $553,064 in gas fees to mint 1,000 non-fungible tokens (NFTs) from the wildly popular Tubby Cats collection.


Additionally, the total cost of minting 1,000 NFTs was about 300 ETH worth approximately $785,640.



Within the huge NFT community, the project has become the talk of the town. Tubby Cats surpassed OpenSea as the most popular NFT project by trading volume on February 22.


The project's 48-hour whitelist mint started on Monday. The remaining tokens were made available to the general public.


0xngmi, a Twitter user, calculated gas prices and their cost per token. The project's "price floor" is currently 0.48 ETH worth $1,291 as of press time.


Note that the Tubby Cats collection has 10,238 distinct holders out of a total of 20,000. These felines have recently become the new darlings of NFT Twitter, giving much-needed escapism in the midst of the latest cryptocurrency correction.