CyberKongz, the company behind a popular NFT collection, has announced the launch of its new utility token $KONG, expected to play a vital role in their ecosystem.
Launch of $KONG
$KONG was announced by the CyberKongz team on August 19. This token will replace the existing $Banana token and serve as the foundation for interactions within the CyberKongz ecosystem. The $Banana token did not have investment value initially but was used for various gaming mechanics.
Token Structure and Distribution
$KONG has a fixed supply of 1 billion tokens. During the upcoming token generation event, 385,463,979 tokens will be released, representing 38% of the total supply. Distribution will occur seasonally and will be exclusive to Genesis participants, Baby Holders, and $KONG stakers.
History of CyberKongz Project
CyberKongz was founded on March 3, 2021, launching with a collection of 1,000 unique NFT avatars. The project quickly gained attention, with one NFT selling for 208 ETH just months later. CyberKongz is known for its innovative integration of ERC-721 and ERC-20 tokens.
The launch of the $KONG token illustrates the ongoing evolution of the CyberKongz project and its commitment to maintaining its status as a leading NFT initiative.
