On the first day of its launch, Art Gobblers broke into the web3 market and priced relatively higher than other blue chip non-fungible tokens (NFTs).
However, the question remains. Is it just another fallacy in the already deteriorating NFTs’ reputation in the market? Or, will it offer some sense of stability in the long run? In recent days, Art Gobblers has gained immense recognition from degens and key players in the Metaverse space.
By now, I bet you are aware of the buzzing NFTs art projects glazing the NFTs community. If not, no need to worry! Well, this post intends to offer deeper insights into the origin of Art Gobblers. In addition, we get to find the legends behind Art Gobblers. Why has it become famous abruptly? What does the future hold for Art Gobblers?
What is Art Gobblers?
Art gobblers is a community-based NFT project giving its users digital art tokens for participation. Launched as 2,000 Gobbler NFTs, Art Gobblers is a self-sustaining decentralized digital art-making tool. Through the gamification process, participants generate goo tokens which are used to create blank pages for artistic impressions. The art is created and stored in the Gobbler’s belly. Likewise, art creators can dispose of them as 1-of-1 NFTs.
The on-chain Gobblers own all the artwork produced which is kept permanently on the Gobblers’ belly. A drawing tool is always available in Art Gobblers to rewind the entire artwork creation process.
How Does Art Gobblers Work?
Art Gobblers’ gamification process is a typical example of demand-supply economics. As artists develop impressive artwork, its cultural relevance improves. In turn, the demand from art collectors increases. As the demand from investors grows, the incentive to create the best artwork from the artists also intensifies.
What’s the gameplay here?
At the start, the creators provided 2,000 free Gobblers for the initial interested parties. However, they restricted 300 of those to the team of developers. 10,000 Gobblers are available to be minted by artists over the next 10 years.
In case you haven’t noticed, the process of minting Gobblers was relatively fast at the initial stages of the process. However, this is gradually slowing down to ensure scalability within the process. The same is expected to stop permanently ensuring exclusivity.
The program applies a VRGDA mechanism which sets the Goo prices. Participants are staking Goo to mint Gobblers. As such, the VRGDA protocol increases the Goo prices when the art sales are scarce and reduces costs when they are flooded.
Who are the Founders of Art Gobblers?
So far, the success of Art Gobblers can be attributed to a huge team of developers, animators, designers, and actors among others. However, Justin Roiland from Rick and Morty in collaboration with Paradigm investments firm is the pioneer and key stakeholder in Art Gobblers.
What are the key Art Gobblers’ Building Blocks?
To achieve a successful digital art-making ecosystem, Art Gobblers is built on four major components; Pages, Goo, Gobblers, and Legendary Gobblers.
What are they? How do they work to make Art Gobblers a success?
The program’s most critical function is the production of art pages. Pages are one of the key components within the Art Gobblers ecosystem. To produce artwork on Art Gobblers, you need blank pages first. Blank purchase needs to be purchased by staking some Goo.
Once a blank page is filled with artwork, it instantly becomes an attractive piece to collectors. Also, it gains cultural relevance within the Gobblers community.
This is an NFT token produced within Art Gobbler’s artwork. Goo is a mandatory requirement at the beginning of the artwork process for purchasing blank pages. Likewise, it is used to acquire more Gobblers within the Art Gobblers environment.
Art Gobbler’s Green paper is a guideline that provides more insights on Goo pricing and distribution within the program. Moreso, the more Goo one possesses the easier it is to earn more in the process.
The Gobblers are the key firepower for the project’s engine. Not only do they gobble art within the ecosystem but also generate Goo for the participants. An on-chain transfer occurs within the program once a player purchases a blank page and passes it to the Gobbler. At this point, the artwork ownership is uniquely specified and associated with the rightful Gobbler.
Art stored within the Gobblers’ belly varies from each other. As such, different Gobblers have different valuations. In the event, a Gobbler is purchased through NFTs, all the artwork in the belly is transferred to the buyer immediately.
The most interesting part of this artwork process lies within the Legend Gobblers. It is the rarest form of Gobbler you will strain to find within the program. Only 10 Legend Gobblers are expected to be earned within the next 10 years. That’s insane, right?
Not forgetting the significant number of normal Gobblers you will have to spend to get to a single Legend Gobbler. Sixty-nine of them, can you imagine? As per the VGRDA pricing protocol, the rate of Goo generation by the Legend Gobblers will be double that of the total number of Gobblers used.
What Next for Art Gobblers?
Will the much anticipated promising digital art factory work?
If so, how sustainable will Art Gobblers be in the next 10 years?
As of the time of writing, the price of Goo is US$ 7.33. In the last 24 years, the market has dropped 15.65% with a market trade volume of $921,694.
As mentioned earlier, the team of developers, and artists among others have spent months perfecting this genius program. Despite the growing speculation on the sustainability of the project, it’s undoubtedly clear it will stand the test of time.
Since its launch on Oct. 31, Art Gobblers has been taking the NFTs market by storm. This is expected to continue in the coming months. Looking at Justin Roiland and his success in the media sector, there is absolute belief Art Gobblers will follow in his footsteps.
Art Gobblers is not your ordinary gaming software. But a piece of genius experimental blockchain and Metaverse creation is taking this space by surprise. The program has shown huge potential since its launch. However, there are challenges and accusations too, particularly in social media towards Art Gobbler which are yet to be answered.
It’s a test of the limits of human capabilities. Only time will tell on the achievements or drawbacks of the Art Gobblers. Meanwhile, let’s join and enjoy some fantastic digital artwork.
Don’t forget to mint the Goo!