MoonCats, the long-dormant tokenized collectibles platform that was re-discovered earlier this month, now has a problem on its hands \u2014 trading bots. <\/p>\n
MoonCats collectibles depict 8-bit cats that live on the moon that can be traded or “adopted” by users. The project was launched on Aug. 9, 2017 by developer Ponderware, with a hard limit of 25,500 MoonCats set to be created through a process similar to Ethereum mining. <\/p>\n
However, the MoonCats community is now fearing the upcoming release of the final 160 Genesis cats may be hijacked by trading bots, with users complaining that Mooncats has become overrun by bots programmed to accumulate new cats the moment they can be purchased. <\/p>\n
MoonCats was rediscovered earlier this month amid the booming growth of the NFT industry. When collectors recently became aware of the project, it was reported that MoonCats NFTs were going for between $50 to $200. However, prices have since increased rapidly, with MoonCats now trading\u00a0for\u00a0 1 ETH on averag. <\/p>\n
The most sought-after breed of tokenized space cats are \u201cGenesis MoonCats\u201d \u2014 tokens that were among the first 256 mined on the platform. A Genesis MoonCat\u00a0sold for 100 ETH worth roughly $180,000 earlier this month. <\/p>\n
With the final 160 Genesis cats currently awaiting release and the MoonCats community fearing they may be all bought by bots, Ponderware is looking to the MoonCats community to decide how to proceed next.<\/p>\n
On March 17, the developer launched a smart-contract poll for MoonCats users asking: “Should the MoonCatRescue developers destroy their private key so that no future Genesis MoonCats can ever be released?\u201d<\/p>\n
A \u201cyes\u201d outcome will prevent Genesis MoonCats released in the future, as the private key to the wallet holding the cats will be deleted. A \u201cno\u201d outcome will see the private key preserved and further discussions between Ponderware and the MoonCats community to establish a “fair” method for distributing the final Genesis cats. The developer stated:<\/p>\n
“A fair distribution of those cats may prove technically, socially, and\/or economically impossible. We will work with the community to meet the challenge, but it is likely to be a complex and drawn-out issue.”<\/p><\/blockquote>\n
As of this writing, the poll shows that 72% of respondents are in favor of destroying the private key, while 28% are opposed.<\/p>\n