The announcement comes nearly a month after the project launched to much fanfare, selling out in less than a minute, with hundreds of thousands of people rushing to get their hands on one of 9,666 collectible pixel bats.
Developed in partnership with Global Merchandising Services and Sutter Systems, nearly $50 million of CryptoBatz have been traded on primary and secondary markets post-launch.
On Feb. 20, the next step in the roadmap of CryptoBatz begins with the launch of a first-of-its-kind NFT event called Bite Fest, taking place over a three-week period, which will give CryptoBat holders a chance to bite an NFT from five of the most valued NFT projects, including Bored Ape Yacht Club, Cryptoadz, CyberKongz, Supducks and Alien
The new "biting" feature affords CryptoBat holders the opportunity to create an additional NFT that is likely to be even more valuable, rare and collectible than the existing CryptoBat.
The biting utility kicks off on Feb. 20 and will include a ceremonial program of speakers to mark the activation of each biting feature.
Alluding to the potential for more “biteable” projects in the future, "Creating our mutating biting utility has been no small feat,” says Jepeggi, co-founder, Sutter Systems. “We've had to pre-engineer tens of thousands of artwork combinations to deliver this utility, but the response we've received from the NFT community has been overwhelming, as it's something that has never been done in Web3 before. We've been seeing serious collectors come into the fold as they try to get their hands on the rarest CryptoBatz so that they can create an ultra-rare MutantBat from their existing NFT collection. The tokenomics are going to be fascinating! We definitely wouldn't rule out the opportunity of unveiling further mutating utilities in the future.”
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