Even if you are not familiar with the show’s existential topics, you must be familiar with the unique art style of Rick and Morty. The co-creator of the show collaborated with Paradigm and launched the most anticipated NFT collection of the month – Art Gobblers.
Art Gobblers dropped on Halloween as free-to-mint NFTs. The overly hyped collection currently holds the number one spot on the Top NFTs list on Opensea, surpassing BAYC and Cryptopunks. The collection currently surpassed $10 million in trading volume on the secondary market.
What Are Art Gobblers NFTs?
Art Gobblers are a highly anticipated NFT collection created by the crypto investment firm Paradigm and Justin Roiland, the co-creator of the acclaimed sitcom “Rick and Morty”. The collection launched yesterday October 31, as free-to-mint NFTs. The hype surrounding the project made fans rush to secure their NFTs, paying only gas fees. However, the trade of the Art Gobblers NFTs is skyrocketing on the secondary market. The collection secured till now a total of 6788 ETH in trading volume with 13 ETH as a floor price. That means the cheapest Art Gobbler is selling for $20,000!
The collection contains 2,000 unique Art Gobblers, with 1,700 NFTs minted for free at launch. The 300 remaining NFTs are for the creators. The project also has 8,000 Art Gobblers NFTs for store and they are expected to be released over the next 10 years with a rate of 200 Gobblers per month.
The Art Gobblers collection is yet to reveal its NFT artwork. The collection is currently an animation of pulsing incubation closets ready to burst into an Art Gobbler NFT. The reveal of each NFT artwork will be today, November 1.
So what are Art Gobblers? They’re basically art-eating aliens. However, the Art Gobblers NFT mechanics are not as direct as the collection’s name. Understanding the projects’ system and how it works could be tricky. But don’t fret, I’ll explain.
The Gobblers Mechanics
The project consists of three main elements: Art Gobblers NFTs, Goo tokens, and the Blank Pages. The system is an interesting gameplay of trading, curating, and creating. It’s like a unique world of Art Gobbler galleries that trade and create art using a native Goo token.
The Art Gobblers
The Art Gobblers NFT collection is planned to be a “decentralized art factory owned by aliens.” Each Art Gobbler is a transferable art gallery. The NFTs are literal “art gobblers”, meaning they digest art into their belly gallery. NFT owners can curate their Gobbler’s belly with many forms of artworks. You can fill Gobbler galleries with portraits, generative art, or even memes – it could literally be anything. Moreover, when an Art Gobbler NFT is sold, all art contained in its belly is sold with it.
The Art Gobblers website provides a drawing tool that allows artists to hand-draw artworks that will be eventually digested by an Art Gobbler NFT. The tool is already available at the website and artists have been going wild at producing other-worldly art. What’s cool about the draw tool is that it records the process of creation stroke by stroke, letting you visit the artwork and play the process in the Gobbler webapp. In order to use the drawing tool, you must first acquire a Blank Page.
The Blank Page serves as on-chain-canvas NFTs. The process of minting the artworks after their creation is called glamination. These pages belong to the artist, and like all NFTs, they can be sold. Artists will most likely sell their artworks for Gobblers’ owners to feed. Thus, passing the ownership of the NFT from the artist to the Art Gobbler holder.
Artists who wish to be a part of the Art Gobbler community don’t necessarily have to own an Art Gobbler NFT. They can still make their contribution to the Gobbler art galleries by trading Blank Pages NFTs. .
Art Gobblers NFTs produce Goo tokens. These tokens are used to create new Gobbler NFTs or Blank Page NFTs. Goo is a regenerative supply in each Art Gobbler tank. Meaning, the more Goo an Art Gobbler has, the more it generates more Goo. The supply of Goo is almost unending. It can grow faster everyday to reach thousands and millions.
Since the growth of Goo is practically uncontrollable, items cannot have a price fixed in Goo. The project uses a pricing mechanism called VRGDA. The system will create a schedule for the increase and decrease of prices based on demand.
Over the next ten years, the project will release 10 Legendary Gobblers. These gobblers are rare and hard to obtain. To be a holder of a Legendary Gobbler, you must sacrifice a large number of previously owned gobblers. Moreover, the first Legendary Gobbler will cost 69 regular Gobblers. The creators stated that “each successive Legendary Gobbler will start at a price in ordinary Gobblers equal to twice what the last Legendary Gobbler sold for”.
Legendary Gobblers will produce Goo at twice the rate of all the Gobblers sacrificed to summon them – a tribute for all the lost souls of Gobblers.
Art Gobblers NFT Intentions
The cycle of owning an Art Gobbler NFT goes like this:
- You purchase an Art Gobbler NFT to serve as a decentralized art gallery.
- You feed the Gobbler by curating artwork from the website.
- The Gobbler will start generating Goo faster.
- You buy Blank Page NFTs or new Gobbler NFTs using Goo tokens
- You can draw artwork the Blank Page NFTs and sell them
- You can trade, create, and curate to generate more Goo
It’s a self-sustained ecosystem that will keep the interest in the community growing. The creators stated that the Art Gobblers NFTs is a finished project. The team will not be making any additional NFTs after the launch.
The art community will provide artists who are willing to create and sell cool Art as NFTs. Thus, the cultural impact of the Art Gobbler will spread. As NFTs grow in popularity, Art Gobblers will grow in demand to curate amazing artwork. The growth in demand will prompt artists to keep producing high-quality art. And the cycle will continue.
This system will ensure the Art Gobblers community keeps growing, bringing more success to the NFT collection in an infinitive cycle. We might say that the Art Gobblers will keep gobbling art until the end of times.