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The non-fungible token (NFT) market is in one of the deepest periods of realized losses ever. Fear and pessimism are at unprecedented levels, which has resulted in many investors losing interest and exiting the NFT market.
However, in hindsight, fearful times have often turned out to be the best times to accumulate high-quality NFT projects at dirt-cheap prices. In the case of the crypto market, every major crash has eventually been followed by much higher highs (except for the last crash so far). While investors may become apathetic, NFT developers continue to build passionately – innovative and strong projects grow, and weak projects wither away.
Rising from the ashes of the brutal 2022 market is Art Gobblers – a promising NFT project and potentially one of the hottest NFT opportunities to emerge this year. The following article will discuss what the Art Gobblers project is and whether it is a good investment heading into 2023.
What are Art Gobblers?
Art Gobblers is a self-sustaining NFT ecosystem centered around the creation and collection of art. Art Gobblers becomes more culturally relevant as artists produce cool art, increasing demand for the work among collectors and encouraging artists to produce even cooler art. The project was created by Paradigm, and the art of the project was created by Rick & Morty creator Justin Roiland. The project has an initial supply of 2,000 ERC-721 NFTs.
Art Gobblers Utility
Artists can create art using the project’s draw tool, which is accessible on iPad, desktop or Cintiq. The main characters of the project are referred to as Gobblers because they literally gobble art. They eat art that artists draw and turn it into 1/1 NFTs using in-game resources. Artwork a Gobbler eats resides on-chain and is permanently displayed in its belly gallery.
Source - Art Gobblers Green Paper
GOO is the token earned by Gobblers and is used to produce the blank pages needed to make art. The more GOO an Art Gobbler has, the faster they produce GOO for their holders. As a result, the supply of GOO increases faster every day, starting at hundreds and eventually reaching billions and beyond.
Source - Art Gobblers Green Paper
A mechanism called VRGDA automatically adjusts prices over time to target the desired issuance schedule. When sales are ahead of schedule, prices are increased; when sales are behind schedule, prices are decreased.
The core utility of Art Gobblers is a self-sustaining ecosystem capable of gathering the most amazing works of art in the cosmos without the need for human interaction. Through strategic tokenomics and incentive systems, Art Gobblers enables a scalable, permissionless and decentralized collection of artwork.
How is Art Gobblers Unique?
Art Gobblers differentiates itself from other art-based NFT projects through its use case. Unlike other art-based projects that display artwork created by a distinguished artist or generated by artificial intelligence, Art Gobblers combines creator artistry with holder contributions, creating a sustainable ecosystem of collaborative art that grows over time.
How to Find NFT Projects Early
Identifying undervalued NFT projects early is an essential skill that can lead to life-changing wealth. It allows you to position yourself into promising projects at cheap prices before the rest of the market follows, pumping the price.
A notable way to identify NFT projects early is Benzinga’s NFT newsletter, NFT PRO. Every week NFT PRO subs get five of the best opportunities in NFTs along with an overarching update on the NFT market sent straight to their inboxes. It is written by Henry Stater, Benzinga’s NFT expert, with more than 1,000 hours of experience researching NFTs and a great trading track record. Take a look at the five picks for the August 19 edition of NFT PRO.
NFT PRO subs were tipped off about the insane potential of Art Gobblers and urged to try to get into the presale on August 19 just days after it launched its Twitter account and before it even confirmed it would be an NFT collection. Right after Art Gobblers minted (for free), the cheapest Gobblers were selling for over $20,000 per NFT.
The same edition also called out the equally high potential of the NFT project DigiDaigaku when its NFTs were trading for about 1.5 ETH (~$2,350). Two weeks later you couldn’t buy a DigiDaigaku NFT for less than 14 ETH (~$22,000). If you pay close attention to the NFT market, you may have noticed that Finiliar, 10KTF Combat Crates and Genuine Undead were also successful. They are all worth significantly more than they were on the 19th, increasing by about 3-4x, 1.5x and 5x respectively.
Putting this all together, if you bought one of each NFT (including minting an Art Gobbler) from this week’s edition, you could have made at least 30 ETH (~$47,000).
You can sign up for NFT PRO today to get a special offer for a limited time. This doesn’t mean you will always make a return from picks in NFT PRO or that there are any guarantees of profit at all. It isn’t investment advice, only the five top picks every week from an expert NFT trader.
How to Buy Art Gobblers
Art Gobblers can be purchased from OpenSea – the world’s first and largest digital marketplace for NFTs. However, you’ll need to take a few important preceding steps that must be followed before purchasing directly from OpenSea.
Sign up for an exchange account to buy Ethereum (ETH). The amount of ETH you need to purchase will depend on the price floor (the price of the cheapest item in the collection) or the listed ask price for the Art Gobbler you are buying. You should purchase a bit more ETH than you need for the transaction fees that you will pay when transferring ETH to a wallet and making the transaction on OpenSea.
ETH can easily be purchased using any major cryptocurrency exchange such as Gemini, eToro or Uphold. The next step is setting up a browser wallet such as MetaMask. MetaMask is free to use and can be set up in a matter of minutes. Once set up, transfer ETH from your crypto exchange account to your individual web-based wallet. Once the ETH has arrived, navigate to the official Art Gobbler project page on OpenSea and buy a Gobbler.
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk
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Is Art Gobblers a Good Investment?
Overall, Art Gobblers is a strong project with a sturdy value proposition. The project has a vibrant community and is positioned to continue growing in the future, albeit not without risk. Art Gobblers is an inherently experimental project and doesn’t have a defined roadmap.
Given the inherently volatile nature of NFTs and the speculative nature of Art Gobblers, prudent investors will only invest money they are willing to lose.
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