Art Gobblers Made $50M In Sales During Mint

Collectibles

November 7, 2022November 7, 2022

Art Gobblers is an Ethereum-based NFT project from Rick & Morty co-creator Justin Roiland and crypto investment firm Paradigm. Paradigm calls the project a “decentralized alien-owned art factory.”

The project is called Art Gobblers because they devour art. More specifically, they eat the creator’s artworks and turn them into 1/1 NFTs using in-game resources. The artwork will then be displayed forever in the Gobblers Belly Gallery.

However, what sets the project apart is its attempt to create a self-sustaining NFT ecosystem, and Goo tokens are an integral part of that. Goo tokens are made by Art Gobblers and are used to craft the blank pages needed to create art. Paradigm in detail:

“The supply of Goo is growing faster every day, starting with hundreds and eventually reaching billions and more. So the game cannot be balanced by giving fixed prices to items in Goo. Instead, a mechanism called VRGDA automatically adjusts prices over time to meet a desired issuance schedule, adjusting prices up when sales are ahead of schedule and down when sales are behind schedule. “

As of now, Art Gobblers’ GOO token is trading at $224.61, down 72.4% over the past 24 hours, according to data from CoinGecko. The coin has traded in the range between $189.81 and $814.33 over the past day, showing extreme volatility.

Initially, the project intends to issue Blank Page VRGDA at a rate of 69 per day. However, it will eventually slow to a constant 10 per day “to ensure a high bar and focused community attention.”

Art Gobblers had a free coin consisting of 2,000 fully animated gobblers. Given that players can mint 8,000 more Gobblers over the next 10 years, the number of free mints was pretty significant. It also explains why some gobblers sold out shortly after their free mints for up to 15 ETH.

“Last tweet (I hope) on Art Gobblers. This image is flying all over NFT Twitter. I don’t accuse anyone of inappropriateness. But many people (including me) think the NFT game is rigged. People will no longer play a game they believe is rigged. Expect more people to quit.”