MoonCatRescue was developed and released in 2017 by a pair of Ethereum enthusiasts who wanted to explore the possibilities of the early Ethereum network. The project used an on-chain, proof-of-work mining system to allow people to "locate" and "rescue" MoonCats. Of the billions of possibilities, the community decided which Cats would be rescued.
Though MoonCats gained a small and passionate following, interest waned.
Thanks to the efforts of crypto-archeologists like Adam McNFT, ETHoard, & JUSTIN, MoonCats were rediscovered on March 12, 2021. In a bout of MoonCat mania, all of the remaining MoonCats were rescued in just a few hours. On that day - from the grassroots - the MoonCatCommunity was born!
Mooncats are forever, iconic, relevant and innovative. Feels like superior blue chips.
MoonCats were developed prior to the implementation of the ERC-721 standard (the current Ethereum standard for non-fungible tokens (NFTs)). The original collection contract used a customized version of the ERC-20 standard, modified to enumerate each MoonCat in the collection. Because MoonCats don't adhere to the ERC-721 standard that modern wallet software expects, The Acclimator was created, which gives MoonCats full ERC-721 and ERC-998 functionality. The “Acclimation” process can be reversed; however, owning an Acclimated MoonCat allows you to take full advantage of the MoonCat ecosystem.
MoonCats has grown to 7,000+ owners, has accumulated nearly 30,000 ETH of total volume, and has been featured at auction houses such as Sotheby's.
MoonCats came 6 weeks after punks - got 2.5x the supply of punks (disregarding multiple punk contracts) - iterated further towards on-chain generation after punks - cost 1/300th of a punk right now. Some may wake up once they are priced out.
MoonCat #527 sold for 160 ETH ($524,000 at the time) on August 27, 2021. Provenance has been a value metric since for collectors since the earliest conceptions of value. As we migrate towards a tokenized world what type of provenance will collectors look for in digital assets to store their capital?