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Art Gobblers trading volume surges as floor price spikes

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A new free-to-mint NFT collection Art Gobblers, has seen a massive uptick in its trading volume, beating famed collections like Bored Ape in the last 24 hours.

According to OpenSea data, Art Gobblers ETH trading volume was 6928 ($11 million) in the last 24 hours — over 10x the volume of Bored Ape and CryptoPunk. The numbers are remarkable, considering the collection began minting on Oct. 31.

Meanwhile, Wu Blockchain reported that the NFT collection’s trading volume had passed 12,000 ETH. Sisyphus noted that the collection had seen over 3,000 ETH trading volume in 20 minutes when the floor price of the collection was 12 ETH, showing that 250 of the minted NFTs were moved.

NFTStatistics also pointed out that the collection was among the top 10 for total ETH volume in October despite only existing for 50 minutes.

As of press time, the collection’s floor price is 14.2 ETH ($22,578), with 1092 owners.

What is Art Gobblers NFT collection?

Art Gobblers is an NFT collection created by Justin Roiland, the co-creator of Rick and Morty, and backed by venture capital firm Paradigm.

The collection said its goal is to create a decentralized art factory using the GOO token, NFTs, and its community. Although it was free to mint, investors on the whitelist needed the GOO tokens to complete the minting process.

Each of the NFTs would serve as an on-chain transferable art gallery, and owners of the NFTs can “digest” any artwork created on the project website and create transferable curated collections.

Gobblers face community criticism

Some crypto community members have criticized the collection, saying most of those on its whitelist were crypto influencers.

The founder of the Plague NFT Pons Asinorum said:

“NFT influencers who chided founders for arguing against 0% royalties are now asking people if they (the influencers) are expected to “work for free” as they get challenged on making $20k on the Art Gobblers mint.”

Posted In: , NFTs

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