Berachain Airdrop Hunters Mint Over 1.7 Million NFTs Ahead of Launch
Berachain, a highly anticipated blockchain project yet to be launched, has seen a surge in activity as airdrop hunters engage in tasks that could potentially earn them free tokens. So far, over 1.7 million non-fungible tokens (NFTs) have been minted by these hunters.
Berachain is a layer-1 network that operates on proof-of-liquidity and is built on the Cosmos SDK, a platform that allows the creation of decentralized applications using the Go programming language.
What sets Berachain apart is its claim to be an Ethereum Virtual Machine (EVM)-equivalent L1 protocol. By fully implementing the EVM code detailed in Ethereum’s yellow paper, Berachain is able to seamlessly support any decentralized application running on Ethereum’s mainnet. This makes it compliant with Ethereum and opens up possibilities for a wide range of dapps.
Although still in its testnet phase, Berachain has already garnered attention from airdrop hunters, who are eagerly searching for the next opportunity to obtain free tokens. The protocol recently released its “Berachain Farming Vol.1 NFT,” which sparked trading activity around a collection of digital collectibles known as “Bit Bears.” These Bit Bears have experienced a tremendous surge in trading volume, with a 236% increase over the past 30 days. To date, these NFTs have generated over 5,831 Ether (ETH) in transactions, equivalent to approximately $14.9 million.
While the buzz around Berachain and the Bit Bears NFTs grows, it is important to remain cautious. Scammers frequently target the cryptocurrency community, and phishing scams are becoming more prevalent as global crypto adoption rises. The scammers often attempt to deceive users into granting wallet transaction authorization, allowing them to drain funds from the unsuspecting victims. This type of phishing scam can often be found in the comments section of various platforms, including social media. Reports from SlowMist indicate that 80% of comments related to phishing software and scammers are found on these platforms.
Notably, prominent entities such as Trezor and Ripple have fallen victim to similar campaigns. As the crypto industry continues to thrive, it is crucial for users to remain vigilant and exercise caution when interacting with unfamiliar projects and offers.
Note: This article is for informational purposes only and does not constitute financial advice.
Analyst comment
Positive news: The surge in activity and interest in Berachain, highlighted by the minting of over 1.7 million NFTs and the trading volume of Bit Bears, demonstrates strong community engagement and potential for growth.
As an analyst, I expect the market for Berachain to continue to attract attention and potentially increase in value as its launch approaches. However, caution should be exercised due to the prevalence of scams in the crypto industry. Users should remain vigilant and do thorough research before engaging with unfamiliar projects.
