Another day, another buzzy non-fungible token (NFT) mint. This time, it’s for Art Gobblers, a collection made by TV director and voice actor Justin Roiland with help from Web3 venture firm Paradigm.
Roiland is one of the people who made the animated comedy show “Rick and Morty,” which is very popular with people who are not from the United States. The collection was free to mint, and since it started trading a few hours ago on Monday night, over 9,600 ETH, or about $15 million, has been traded, according to data from the new NFT marketplace Blur.
The stated goal of Art Gobblers is to make a “decentralized art factory” by using NFTs, a GOO token, and community work.
It’s time. https://t.co/th7jZANTG5 pic.twitter.com/Aun6LZvtsq
— Art Gobblers (@artgobblers) October 31, 2022
How it operates
Each of the collection’s 2,000 NFTs is intended to operate as a transferable on-chain art gallery. The owners of NFTs can “digest” artwork created on the project’s website to add to their “art bellies,” which become transportable curated collections.
Gobblers can be used to acquire an ERC-20 token called GOO, which can be used to mint artwork. The tokenomics are somewhat sophisticated; after acquiring GOO, holders can construct “Pages,” which are non-fungible tokens that serve as blank canvases to digest, trade, or “glaminate” with original artwork.
The NFTs art reveal is scheduled for Tuesday, but holders and non-holders can contribute off-chain art on the project’s website to get a sneak peek.
According to aggregated data from Blur’s NFT marketplace, the collection had an astounding 11 ETH (approximately $17,000) floor price at the time of writing. The collection’s royalty rate is 6.9%, and just under half of consumers use royalty-free marketplaces like Blur and X2Y2 to avoid paying the licensing price.
According to OpenSea data, the collection is already in the top 10 for October sales volume after less than one day of trading.
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