The latest project to embrace the non-fungible token (NFT) craze is Polkastarter. It launched a series of Easter-themed collectibles called Polkamon.
Polkamon are animated digital collectibles that were created using unique NFTs. The platform announced an IDO (Initial DEX Offering) for a PMON token on the Polkadot-powered exchange, Polkastarter. The IDO will commence on March 31.
More than 125,000 unique addresses have claimed their mysterious Polkamon eggs which were issued on Ethereum.
“In gas fees alone, we estimate Polkamon fans have spent more than $1 million claiming eggs for their chance to participate in our upcoming IDO on Polkastarter.”
Time's up! The #ClaimYourEgg contest has officially ended. No more eggs can be claimed. Thank you to the more than 125,000 people who took part in this historic event. Together we're making #NFT history!
In 2 hours we will be sharing a link to check if you've won. Good luck! pic.twitter.com/zrDKEgTElj
— Polkamon (@Polkamonorg) March 29, 2021
Not every egg hatched into a NFT however and some were a little disgruntled at spending the gas.
Polkamon NFT Hatching on OpenSea
The OpenSea NFT marketplace is hosting the collection, and it’s already generating quite a stir. At the time of press, the rarest collectible called the “Moonrock x Morningstar Babydragon” has a bid of 16 ETH, or $28,600.
The ‘Polkastarter Babydragon’ beats that with a 50 ETH bid at almost $90,000 at current prices. This one is a special award for POLS holders, who took part in the Polkamon IDO.
The POLS pool had 100 Polkastarter Baby Dragons allocated to it, while the community pool offered an allocation of 80 Silver Baby Dragon NFTs.
One of the largest incubators and early-stage investors in the Polkadot ecosystem, Moonrock Capital, is behind the Polkamon collection in partnership with Morningstar Ventures.
Managing Partner at Moonrock Capital, Simon Dedic, called it the most exciting IDO ever in a tweet on March 30:
“Smart people are already setting bids for those on Opensea, as they won’t just get a $POLS whitelisting spot in return, but also one of the rarest Polkamons existing. Most exciting IDO ever”
The winning addresses were chosen based on 380 random numbers fetched from the Chainlink Oracle on the Polygon Network. The NFTs are currently being minted and the winners were announced on the Polkamon blog.
POLS Price Update
Polkastarter has its own native governance token POLS, which was trading up 4% on the day at $4.08 according to CoinGecko. The token is up by 26% since the IDO announcement on March 25.
POLS hit an all-time high of $6.50 on Feb. 17 but has fallen back since. There are 60 million circulating POLS, giving it a current market cap of $247 million. Polkamon’s PMON tokens have yet to launch on the DEX.
