In an unprecedented surge of activity, Berachain’s early adopters have minted a staggering 1.7 million NFTs. The layer-1 network, which is still in its testnet phase, has become a hotspot for airdrop enthusiasts eager for the project’s free tokens.

The Rise of Berachain

Berachain, a new player in the blockchain arena, is a layer-1 network that leverages proof-of-liquidity and is built upon the Cosmos SDK. This framework is designed for the development of decentralized apps (dapps) using the Go programming language. The network boasts full implementation of the Ethereum Virtual Machine (EVM) code as detailed in Ethereum’s yellow paper, positioning itself as an EVM-equivalent layer-1 protocol.

Airdrop Hunters Swarm Berachain

With the promise of free tokens, Berachain has successfully captured the attention of airdrop hunters on social media. The project’s release of the “Berachain Farming Vol.1 NFT” has fueled a flurry of trading activity, particularly for the “Bit Bears” digital collectibles on the Opensea NFT marketplace, though the connection between the two entities remains unconfirmed.

Trading Volume Skyrockets

The Bit Bears collection has experienced a significant surge in trading volume, boasting a 236% increase over the past month. The collection has amassed over 5,831 Ether in transactions, equating to an impressive $14.9 million in value.

Scammers Take Advantage

However, not all attention has been positive. The hype around Berachain has also attracted scammers, particularly on Elon Musk’s social network. These scammers have been posting deceptive ads to lure users into authorizing wallet transactions under the guise of farming airdrops, a claim not yet addressed by the Berachain team.

Phishing Scams: A Growing Concern

The crypto space is no stranger to phishing scams, and as global adoption rises, these fraudulent activities become more prevalent. Reports from SlowMist indicate that 80% of comments on X are related to phishing, and even prominent entities like Trezor and Ripple have fallen prey to these malicious campaigns.