NiftyNoon: Art Gobbler Domination
For November 1, 2022
Nifty Analysis
Art Gobblers is an exceptional project that demonstrates how much-sidelined capital there is in NFTs from people that are eager to invest in something they believe in. The community debate that sparked as a result of the project’s high day-one prices is interesting. Is it wrong for influencers to sell NFTs from projects they have once promoted? Is it wrong for projects to selectively give influencers allowlist spots at all? These questions all have vocal critics arguing from opposite sides of the spectrum.
One potential solution to look for is the rise of engagement-based allowlists. Some creators, such as Ryan Carson, issue proof of attendance protocol collectibles (POAPs) for people that attend their spaces. Their stated goal is to eventually use those POAPs to curate allowlists for their upcoming projects. This may serve as a reliable heuristic for long-term community engagement as it rewards people that have consistently engaged with you in the past. However, it may also lead to a reversion back to the grind-centric allowlist meta many projects experienced during the peak of the bull market.
However, Art Gobblers is unique for reasons beyond its day-one price action and volume. The tokenomics are truly compelling. Essentially, each Gobbler produces a $goo token that can be used to either teleport new Gobblers or create Pages. New Gobblers can be used to further generate new $goo whereas Pages can be used with the Art Gobblers art tool to create new art that can then be fed to the Art Gobbler. Notably, $goo is hyper-inflationary so there is little reason to speculate on the token without holding the Art Gobbler. Furthermore, the proportion of $goo an Art Gobbler has can never increase in proportion relative to the total supply of $goo. For example, if you start with an Art Gobbler that has 0.5% of the total $goo supply, no amount of time will increase that proportion. The Art Gobbler merely helps protect you from the hyper-inflationary mechanics. This innovative tokenomics approach has potential to shift the entire NFT landscape. It would be wise to keep an eye on how the project performs in the upcoming months.
Project News
Art Gobblers complete their highly anticipated mint-breaking bear market records for mint day floor price and volume (13.15 ETH floor price and 7,158 ETH 24-hour volume at the time of publication):
SEBA becomes the first regulated bank to offer NFT custodial services:
Community News
Art Gobblers mint sparks widespread debate on the ethics of influencers selling NFTs they promoted shortly after mint:
You’re not mad Influncers are selling art gobblers for 15 Eth You’re mad you didn’t get a WL spot for a free 15 Eth There’s a differenceCryptoPunks flip Bored Ape Yacht Club by floor price marking the return of CryptoPunks as the top NFT collection by market cap:
Elon Musk tweets image of CryptoDickButt NFT causing sales for the project to skyrocket:
Quick Stats:
OpenSea USD Daily Volume: $19.25M (▲ 118.79%)
OpenSea ETH Daily Volume: 12,275 ETH (▲ 123.95%)
BTC: $20,440.04 (▲ 0.35%)
ETH: $1,573.45 (▲ 0.48%)
Solana: $32.53 (▼ 1.05%)
NFT Daily Winners:
Clone X: 7.92 ETH (▲ 0.89%)
Mutant Ape Yacht Club: 11.99 ETH (▲ 0.08%)
VeeFriends: 5.90 ETH (► 0.00%)
Proof Collective: 38.00 ETH (► 0.00%)
Art Gobblers: 13.15 ETH (► 0.00%)
NFT Daily Losers:
Chromie Squiggles: 15.45 ETH (▼ 0.32%)
CryptoPunks: 66.60 ETH (▼ 0.56%)
Moonbirds: 7.88 ETH (▼ 1.38%)
Bored Ape Yacht Club: 66.81 ETH (▼ 2.80%)
DigiDaigaku: 10.92 ETH (▼ 5.47%)
Azuki: 10.80 ETH (▼ 7.30%)
CryptoDickButts: 2.40 ETH (▼ 9.09%)
Doodles: 7.39 ETH (▼ 24.21%)
Notes:
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