What on earth is happening with Sappy Seals?! The collection just broke another record with a floor price of 1.685 ETH! That’s approximately $2,105.05 per the ETH rate at the time of writing. I mean are they the cutest things I’ve laid my eyes on? Most probably. But what are they doing for the sappy seals’ floor price to explode like that?
Sappy Seals’ Floor Price Skyrockets
I’m not kidding when I say the Sappy Seals’ floor price is exploding. Check the below graph by alphasharks. On November 10, 2022, the floor price was 0.4725 ETH. As of today, it’s 1.685 ETH. That’s a 71.96% increase!
Even the number of holders, per the chart below by icytools, recently increased after its boom in October 2022. There are 2,354 unique holders among which 521 are blue-chip holders per nftinit.
Even though according to the below pie chart by icytools, the vast majority (71.46%) hold 1 sappy seals NFT only, there’s a good amount holding between 2 and 25 NFTs (18.13%). And only 0.13% hold more than 50 Sappy Seals NFT.
But, What Boosted The Sappy Seals Floor Price?
Memes. I mean, are we surprised that they poured out a sea of memes? The Sappy Seals team launched a meme machine on January 3rd. And, it hyped up the community on Twitter in a crazy way.
What Is The Sappy Seals Meme Machine?
The Sappy Seals meme machine is a platform that allows SAPS holders to generate personalized memes tailored specifically to the NFT they hold. And, who wouldn’t want to turn an NFT into a meme? No, correction. Who wouldn’t want to turn ANYTHING into a meme? I mean, NFT memes are already a thing.
Moreover, they also have multiple things planned for the future. They plan on:
- Including creation of memes for newbies
- Automation tools and creative inspiration
- Leveraging NFT communities as massive decentralized marketing agencies
React With A Sappy Seals Meme
What actually got the Sappy Seals floor price and Twitter going crazy is the react option. It’s called Sappy React. Basically, you download a browser extension that then enables you to instantly react with memes that change depending on what NFT the recipient is using.
Once you have the extension downloaded, you’ll see a ‘sappy react’ button (circled in red) on Twitter accounts with a Sappy Seals PFP.
Taking the example of wabdoeth, founder of Sappy Seals, when I click I directly get memes specifically like the NFT wab holds.
And, if I do the same on another account, I get different memes. For example, if I do this on active community member Doxxy, I get memes that look like Ben’s NFT.
Appreciation Airdrops
Moreover, in order for members to remember this drop, creators have airdropped every holder with a soulbound NFT. The NFT is known as “The Key of the Faithful”. Honestly, it’s a cute token of appreciation to the community.
So, if you have a Sappy Seals NFT, first of all, I’m jealous. Second of all check your wallet. It also might show up in your hidden folder so take a peak.
Meme Machine Increases Sappy Seals Floor Price and PFPs
If we want to look at the Sappy Seals floor price in January alone, we’ll notice the increase started as of January 3rd. Meaning, during the time of the meme machine launch. On January 1st, the Sappy Seals floor price was 1.0670 ETH. Now, that’s 1.685 ETH. Indicating a 36.67% increase!
Moreover, even the tweets with NFT and the unique PFPs increased after January 3rd per the data by nftinspect.
I mean, the community is clearly loving this. They’re tweeting like there’s no tomorrow. Personally, as an outsider, the Sappy Seals community always stood out to me. Just look.
sappy fucking seals
— meechie (@973Meech) January 5, 2023
Even Doodles’ founder, poopie, is buying Sappy Seals.
we do a little pet shopping pic.twitter.com/UV0c8iSMwh
— poopie (@poopie) January 5, 2023
And, Sappy Seals Holders Are Making Insane Money
Of course, not everyone is going to hold on to their NFTs forever. Especially now. Because when the sappy seals floor price shoots up, indeed holders are going to jump to sell. Not that there’s anything wrong with it.
In fact, SAPS holders are making a lot of money from flipping their NFTs. If we look at the profit leaderboard per AlphaSharks, we notice that the first wallet has made 70.33 ETH as gross profit. That’s $88,118.22 per the ETH rate at the time of writing.
The 10th on the list has made13.81 ETH as gross profit. That’s $17,302.89 per the ETH rate at the time of writing. Yes, I too am wishing I minted a Sappy Seals as the mint price was 0.06 ETH only.
Conclusion
Sappy Seals floor price shot up and so did my jealousy. I have to admit, the launch of the meme machine is a diamond marketing move. Especially in the NFT space where memes are top-tier and everyone’s favorites. Hats off to the seals. If I were you, I’d keep an eye out for this project. It might be going blue soon. Also, another project might be joining the seals in the blues as it also has a very strategic approach. Check the 1337 skulls here.