Why FIRST 721 CLUB do Wrapped Gen0 CryptoKitties ?

CryptoKitties CTO Dieter Shirley submitted the first version of ERC-721 on 2017-09-20. The term NFT was first coined in the first version of ERC-721. NFT is short for "Non-Fungible Token". September 20th is officially recognized as International NFT Day.

The contract of CryptoKitties was deployed on mainnet on 2017-11-23,CryptoKitties is the first ERC-721 NFT.

There is no setApprovalForAll function of the first version of ERC-721. setApprovalForAll function was added on 2018-02-23 .Therefore, there is no setApprovalForAll function in CryptoKitties contract. Besides,there are some other differences betweent CryptoKitties contract and ERC-721 Final version. Currently, only one NFT marketplace OpenSea supports trading of CryptoKitties, because only OpenSea did custom developments for CryptoKitties. Even if OpenSea supports CryptoKitties trading, the seller must perform a Approve operation for each sale order, which wastes Gas and is inconvenient for the seller.

10k is a popular amount for NFT project, but the total supply of CryptoKitties is now more than 2 million and growing. The floor price of CryptoKitties is only 0.0028 ETH(2023-04-14) on OpenSea. The floor price and total supply are important data for NFT, but the current data of CryptoKitties is not good for new investors.

As of 2023-04-14, the total trading volume of CryptoKitties was 67,631 ETH, the total trading volume of Gen0 kitties was 36,784 ETH. The total supply of Gen0 kitty is 38,015, the ratio of Gen0 amount is only 1.8%, but the ratio of Gen0 trading volume is 54.3%, the trading volume of CryptoKitties is largely driven by Gen0 kitties.

If there is a single collection for Gen0 kitties, the max supply of this collection is 38,015, the floor price will be 0.07 ETH(by the data of 202304-14). We consider Gen0 kitty is a better investment target, so we select to wrap Gen0 kitties to get a single collection.

The Gen0 kitty after Wrapped for short is WrapG0. You can stake your Gen0 kitty to Wrap contract to get a WrapG0. The ID of the WrapG0 is the same as Gen0 kitty, and the image and properties are also the same as Gen0 kitty.

Currently, Wrapped Gen0 CryptoKitties contracts have been released on mainnet. Welcome CryptoKitties OG to wrap your Gen0 kitties 🐱

Wrapped Gen0 CryptoKitties contract address: 0xafe9459dcab91dad2447d5a159091156749941fb

OpenSea collection: https://opensea.io/collection/wrapped-gen0-cryptokitties

Wrap step docs: https://www.first721.com/page/en/wrapped-gen0/the-steps-of-getting-wrapped-gen0-cryptokitties-on-mainnet


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