‘Rick and Morty’ Co-Creator’s NFT Collection Sees $14M in Trade Volume Hours After Mint

The project aims to create a “decentralized art ecosystem” using NFTs and complex tokenomics.

AccessTimeIconOct 31, 2022 at 11:31 p.m. UTC
Updated Nov 1, 2022 at 2:19 p.m. UTC
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Another day, another buzzy non-fungible token (NFT) mint – this time for Art Gobblers, a collection created by television director and voice actor Justin Roiland with backing from Web3 venture firm Paradigm.

Roiland is the co-creator of the animated comedy show "Rick and Morty," which is especially popular among the crypto-native crowd. The collection, which was free to mint, has so far seen over 9,600 ETH (around $15 million) in trade volume since minting hours ago on Monday night, according to data from new NFT marketplace Blur.

Art Gobblers’ stated goal is to create a “decentralized art factory” using a combination of NFTs, a GOO token and community collaboration.

How it works

Each of the collection’s 2,000 NFTs are meant to function as own on-chain, transferrable art galleries. Owners of the NFTs can “digest” artwork created on the project’s website to add to their “art bellies,” which become curated collections that are also transferable.

Art can be minted using an ERC-20 token called GOO, which is earned by holding Gobblers. The tokenomics get a bit complex – after earning GOO, holders can create “Pages,” which are NFTs that act as blank canvases to either digest, trade or “glaminate” with custom artwork.

(artgobblers.com)
(artgobblers.com)

The art reveal for the NFTs is slated for Tuesday, but holders and non-holders can create off-chain art on the project’s website as a preview of what’s to come.

At the time of writing, the collection has an impressive 11 ETH (around $17,000) floor price, according to aggregated data from Blur’s NFT marketplace. The collection has a royalty rate of 6.9%, and just under half of buyers are bypassing the royalty fee by using royalty-optional marketplaces like Blur and X2Y2.

In less than one day of trading, the collection is already in the top 10 for October sales volume, according to data from OpenSea.

Disclosure

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Eli Tan

Eli was a news reporter for CoinDesk. He holds ETH, SOL and AVAX.


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