In the midst of an unprecedented bear trend, an epic NFT project called Art Gobblers debuted on OpenSea. Contrary to expectations, the collection recorded significant trading volume in just a few days after listing. After reading this article Art Gobbler.
What is Art Gobbler?
Art Gobblers is a decentralized art factory where artists/creators can draw art using their desktop computer, iPad, or Cintiq-compatible drawing tools. The project was launched on October 31, 2022, and just 24 hours after its launch, he recorded a trading volume of over 8,000 ETH at a floor price of 13 ETH.
Art Gobblers is the brainchild of Justin Roiland and Paradigm (web3 investment firm) with contributors including designers, animators, strategists, illustrators and community builders. Justin is one of NFT’s early adopters and promoters. He’s the brains behind “The Smintons” artwork for “The Best I Could do Collection,” which sold for $290,000 at Nifty Gateway in January 2021.
What exactly is a gobbler?
Gobblers are animated ERC-721 standard NFTs. They can be considered masterpiece NFTs that issue other NFTs and ERC-20 tokens ($GOO). When an artist draws art on a blank page, it will be “devoured” (eaten) by Gobbler, who through gamification transforms them into his 1/1 NFT. All gobbling art belongs to the Gobbler who ate them on-chain and is permanently displayed in the belly gallery.The on-premises drawing tool has a live his record feature where the artist can replay the creation of the artwork. is also included.
Art Gobblers Ecosystem
The Art Gobblers platform runs on an interwoven framework in which key elements of the project collectively establish an autonomous art ecosystem. As mentioned earlier, Gobblers are animated NFTs with open or transparent bellies, to which all other elements are directly or indirectly connected, making them the backbone of this project and its ecosystem. Works.
How?
The Gobbler’s Belly also serves as a gallery where gobbling art resides permanently and is exhibited. Additionally, Gobblers will also issue his NFTs of blank pages using $GOO tokens. These blank pages are where artists/creators create their artwork. As artists finish drawing on these blank pages, they feed the Gobbler, who consumes their work. In essence, the “gobbling” process is similar to casting his NFT, but ownership of the art is transferred to the gobbler who ate it. So when the owner sells or gives away her Gobbler, all gobbled art pages move with it.
Therefore, it suffices to refer to Gobblers as NFTs that generate NFTs, since both blank pages and art pages are non-fungible tokens. At launch, 2,000 of his Gobblers were minted, with 300 reserved for teams and contributors. However, through the VRGDA mechanism, community users and players can use $GOO to craft an additional 8,000 Gobblers over the next 10 years.
Source: Art Gobblers Green PaperWhat is the VRGDA mechanism?
VRGDA (Variable Rate Gradual Dutch Auctions) is a custom NFT issuing mechanism designed by Paradigm for Art Gobbler.This mechanism closely aligns the supply of tokens with the expected growth in demand at a given time.
For example, Art Gobblers wants to sell 5 NFTs every day for 1 ETH/token. On the fourth day, 20 NFTs should have been sold, but a surge in demand resulted in 35 NFTs being sold. This means that the project is 3 days ahead of sale. With the introduction of VRGDA, each token will be priced algorithmically higher using an exponential curve based on available parameters. As a result, this makes it harder to buy more gobblers.
What if there is a shortage?
Assuming you need to sell 35 NFTs and after 7 days you sell 25 NFTs, you are 2 days late. In the VRGDA mechanism methodology above, 2-2 =0.25. As such, the new price of Gobblers has been reduced to 0.25ETH, making it more affordable for investors and enthusiasts.
page
As mentioned above, blank page NFTs are generated by Gobblers using the $GOO token. To create your own NFT drawing, you need “Gramination”. This refers to the artist’s process of casting her NFT. The number of blank pages that can exist at any one time is limited by the VRGDA mechanism. The VRGDA mechanism initially sets the publishing rate at 69 pages per day and gradually reduces it to 10 pages per day.
$GOO
$GOO is an ERC-20 standard token issued by animated Art Gobblers. Gobblers are co-curators of decentralized galleries within the ecosystem. They will issue $GOO tokens which will be used to create a new blank page where the artist can draw her NFT. Gobblers are exciting creatures that enjoy the smell of $GOO. The size of $GOO in the tank determines the rate at which more new $GOO is released. This will allow the supply of $GOO to grow rapidly from thousands to billions daily, but once VRGDA is introduced, the price will be algorithmically readjusted over time.
legendary gobbler
Legendary Gobblers are the rarest gobblers that dominate the entire ecosystem. They will arrive at the appointed time for the next ten years. Users need to burn a lot of regular gobblers to get a legendary gobbler.
Source: Art GobblersEach Legendary Gobbler is destined to arrive when VRGDA issues an additional 10% of its total supply. The total supply of Gobblers is 10,000, so each Legendary Gobbler will be given for every 1,000 (10% of 10,000) Gobblers issued. This also means that the legendary Gobbler can only exist ten of his.
How to get the legendary gobbler
Note that you need to burn a number of Standard Gobblers to get the Legendary Gobbler, and you need to burn 69 Gobblers to get your first Legendary Gobbler. To offset Burned Gobblers, Legendary Gobblers emit $GOO at twice his rate of Burned Gobblers’ total rate. For example, if the burnt Gobbler totaled he released 6,900$GOO (100$GOO/Gobbler), then the Legendary Gobbler released 6,900 x 2 = 13,800$GOO.
Conclusion
Art Gobblers are exciting animated NFTs with multifunctional features that enable the creation of on-chain drawn NFTs. They are one-of-a-kind creatures holding NFTs and Mint ERC-20 tokens. Its amazing custom-made VRGDA ensures that token distribution is proportional to maintaining a decentralized and self-sustaining ecosystem.
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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Technical writer with a passion for blockchain and all things decentralized world.