The NFT world is abuzz with news of Gremplin’s latest drop, which has made history in more ways than one. On Saturday night, the digital artist pulled off a massive surprise event, releasing a new edition called “AN EYE FOR A FRY.” What made this drop so unique was that it required the burn of 1 Nakamigos to mint the piece.
This had never been done before, and the implications of this new burn-to-redeem feature are massive. Gremplin’s edition of 69 minted out in just two hours, and the 69 Nakamigos that were burned in the process are now gone forever. The Nakamigos floor has shot up 15% since the event, and Gremplin’s “Fry Harvesters” collection has a current floor of 0.749 ETH, slightly below the Nakamigos floor.
But what does all of this mean? For one, it cements the Nakamigos collection and community as culturally significant in the NFT space. Three major artists/teams have used Nakamigos in their work in just one week, and the collection is only 18 days old. The market is backing this up, with the Nakas sitting at an all-time high this morning.
However, some are wondering if Gremplin has opened Pandora’s box with this new burn-to-redeem feature. It’s a game-changer that could potentially lead to the burning of more popular collections to mint new editions, ultimately hurting the value of those collections. Only time will tell if this feature becomes the new norm in the NFT world.
Overall, Gremplin’s epic burn-to-redeem event has made digital art and PFP history, but it remains to be seen if it will have a lasting impact on the NFT space.
— gernplam (@gremplin) April 4, 2023
Gremplin vs. Nakamigos
The Nakamigos project has been making waves in the NFT space and is possibly the biggest project of 2023 so far. Rumors have been swirling around that some of the biggest names in the industry, from Gremplin to Beeple and even Yuga Labs, are attached to the project in some way.
So what exactly are the Nakamigos? They’re a collection of 10,000 unique digital characters that have taken the NFT world by storm. Each Nakamigo is one-of-a-kind and comes with its own backstory and personality traits. The project launched just 18 days ago, but it has already garnered a massive following and a strong community.
One of the most notable things about the Nakamigos is their versatility. They can be used in a variety of ways, from gaming and social media to advertising and merchandise. This versatility has led to some high-profile collaborations, including with 10KTF, who highlighted the Nakamigos in a “Wanted” poster from their main Twitter account.
Beeple, the renowned digital artist, has also taken notice of the Nakamigos. He recently memorialized them in one of his Everyday pieces and promised a Chapter 2 at a 1 ETH floor (though he’s already included them again). This is a huge endorsement from one of the most respected artists in the NFT space.
And then there’s Gremplin. There was speculation that he was behind the Nakamigos project, but his recent burn-to-redeem event has put that theory to rest. However, he has cemented the Nakamigos in art history by including them in his first-of-its-kind mint, which required the burn of 1 Nakamigo to mint his new edition called “AN EYE FOR A FRY.”
With all of these high-profile collaborations and endorsements, it’s no wonder that the Nakamigos are becoming culturally significant in the NFT space. And with rumors of even more big names getting involved in the project, it’s clear that the Nakamigos are here to stay. Keep an eye on this project in the coming months – it’s sure to be a game-changer.