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CyberKongz, the digital asset incubation studio behind the blue-chip CyberKongz non-fungible token collection, has launched its highly anticipated token dubbed $KONG on the Avalanche network to serve as a new utility token for the CyberKongz NFT ecosystem, replacing its previous BANANA token. Unfortunately, the $KONG token price has crashed just a few hours after launch, leaving many investors in a state of uncertainty.
On September 10, 2025, the CyberKongz NFT team confirmed that it had launched its highly anticipated utility token called $KONG. This much-anticipated NFT coin went live on various crypto exchanges, including KuCoin, Uniswap and OpenSea NFT marketplace. The $KONG kicked off slow and healthy, but midway crashed below its listing price. Before the end of this article, we shall assess some of the factors that fueled its price to crash.
Founded on March 03, 2021, CyberKongz is a non-fungible token collection featuring unique and randomly generated 2D/3D NFT Social Avatars compatible with online gaming. The CyberKongz NFT collection started as a generative collection of 1,000 34×34 pixelated NFT gorillas, known as the Genesis Collection. Subsequently, the CyberKongz NFT team has launched an additional 4,000 NFTs, created through breeding in the CyberKongz ecosystem.
The CyberKongz NFT team introduced the $KONG coin last month to replace the existing $Banana token. $BANANA is a utility token within the CyberKongz NFT ecosystem. This token was not created as an investment and has no intrinsic economic value, but it was launched to power various in-game mechanics and interactions within the CyberKongz gaming ecosystem.
$KONG is the liquidity and utility token for the CyberKongz ecosystem, letting non-fungible token enthusiasts, supporters, and anyone in or out of the space to find a home in web3 and be part of the culture that CyberKongz created, which now permeates throughout the entire non-fungible token space. Holding the upcoming $KONG NFT coin will make holders a Kong and give them access to all the perks of the ecosystem. The CyberKongz describes $KONG as a token that represents CyberKongz and NFT culture.
The KONG token is deep-rooted in history, lore, and altering distribution mechanics. $KONG is a reimagination of history, upgraded and designed for a brighter future. The $KONG token was launched with a fixed edition of 1 billion. The CyberKongz NFT team held its highly anticipated token generation event TGE yesterday, which was aimed at releasing 385,463,979, representing 38% of the total token supply. The CyberKongz NFT team had allocated 2% of the supply to the Ethereum NFT community.
Unfortunately, the CyberKongz TGE did not happen as expected. First things first, the airdrop claim was an absolute disaster. The team has held itself fully accountable for not being prepared for that amount of website traffic, and ultimately, people being unable to claim. Nonetheless, the CyberKongz NFT team has remorsefully apologised to the NFT community for the way things transpired with the airdrop claim. Bottleneck challenge was the major reason that fueled $KONG price to crash.
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