Art Gobblers is a decentralized art factory initiated by Justin Roiland and Paradigm, a top crypto investment institution. Paradigm is responsible for providing financial and technical support. Users can draw works of art through the tools from the project and then store the NFT on-chain. The drawing tool is compatible with devices such as PC, iPad and Cintip, and the drawing process can be replayed. The ecosystem of Art Gobblers includes three categories, namely Gobblers NFT, Goo token and VRGDA. Art Gobblers NFT can generate Goo tokens by staking. The more Goo tokens a Gobblers owns, the faster it generates Goo, which means that the Goo supply will grow faster and faster, from thousands to millions. Goo is a standard ERC-20 token to provide liquidity for the project ecology, and there is no limit to its issuance. VRGDA is the issuance mechanism for Art Gobblers that automatically adjusts prices over time, raising prices when sales are ahead and lowering prices when sales are behind. The purpose of CRGDA is to ensure the stability of the Art Gobblers ecosystem.

Basic Information

Project Name：    Art Gobblers

Total Circulation：  10000 (First 1700 whitelists, 300 reserved for community members and early contributors, the rest 8000 is planned to be released in the next 10 years)

Mint Formation：  Free Mint

Floor Price：      2.743 ETH

Sale Platform：    open sea

Trading Quotes

Team Structure

Project initiator Justin Roiland created the well-known cartoon Rick and Morty. Paradigm is also a well-known well-known investment institution in the web 3 industry. It was founded in 2018 by former coinbase co-founder Fred Ehrsam and former Sequoia partner Matt Huang. It ranks first in the 2022 Web3 VC rankings. The strength can be said to be very strong.

Social Platform Traffic And Popularity

Twitter: 56k followers, the official pinned tweet has 66 likes, 14 comments

Average 30-45 likes, and 7-13 comments per tweet

Project gameplay

Art Gobblers

The core and most basic NFT has a total amount of 10,000. Currently, 2,000 have been released. The remaining 8,000 will be released gradually in the next ten years. At first, 200 will be released every month.

Legendary Gobblers

The top NFT in the project has not yet been minted, and there are a total of 10. Legendary Gobblers cost a lot of regular Gobblers to mint, and the starting price is 69 Gobblers. If no one casts, the price will gradually decrease.

Blank Pages

The Blank Pages rendering style is a blank page. White paper NFTs are mainly used to create artistic paintings. Painting tools are provided on the official website, and anyone can try to create, but only with a blank paper NFT can the painting be cast into an NFT. At first, 69 white paper NFT places were released every day. After 8 months, 10 per day were used. Token GOO was used for casting.

G00 Token

Goo is unlimited supplied, and it can be obtained by staking Gobblers. Package Legendary Gobblers can produce the tokens in double. The more tokens Gobblers hold, the more tokens they can stake.

Gobblers

Each Gobblers is equivalent to a gallery, Gobblers holders can "swallow" paintings NFT, these paintings NFT is permanently bound to Gobblers, and this binding is realized by smart contracts.

VRGDA

From the introduction of the Green Paper on the official website, VRGDA stands for: Variable Rate Gradual Dutch Auctions. Through the special mechanism of variable interest rate to increase the impact factor to keep the daily output speed of token constant. Goo are infinitely issued and there is no deflation mechanism. Therefore, affected by the VRGDA mechanism, the auction price of the Art Gobbler in the early stage will be higher than that of the Art Gobbler produced in the later stage.

Summary

Simply describing the gameplay of this project is that anyone can create artwork on the platform, and Gobbler will swallow these artworks. Each artwork will be minted into an NFT and displayed in the belly of the Gobbler, which is the gallery, and then Gobbler produces Goo, and Goo produces Blank Paper. 

However, the above gameplay depends on the long-term popularity and high certainty of the project itself. As an NFT creation project as a drawing board tool, if it is to be sustainable, it needs enough creators that are willing to spend Goo tokens to paint in Gobbler's belly. And what conditions will attract creators to do so? That is, the project itself has enough popularity and transaction volume. In this case, only when enough buyers are willing to make transactions on the Art Gobbler platform, will there be a steady stream of artists painting in the gallery. Vice versa.

It can be seen that the Art Gobbler project is a transformation of an ordinary NFT exchange. Through packaging the gameplay and confusing the participators which made them have a hard time understanding its simple logic. In other words, in today's market, Art Gobbler needs to face up the puzzle of how a nascent NFT platform can maintain high popularity. Therefore, these uncertainties can be fatal blows.

Originally, Art Gobblers can be said to be a project born with a golden key. For a free mint project, on the day of launch, the floor price hit 12.44 Ethereum which was quite difficult in the current bear market. But in just half a month, the price dropped 83% to 2ETH.

Another problem lies in the control of the white list. On the day of mint, many users found that most of the people holding the whitelist are well-known influencers or blue chips holders, while ordinary people and community enthusiasts basically had no chance to participate. Afterwards, many investors believed that they had become the successors of the first wave of investors. It can be seen that the whitelist mechanism of the project is not conducive to the later development of the project.

I think the project is currently full of strong uncertainties, and the entry risk is high. 

First of all, the project party clearly mentioned that the entire project has been delivered and there will be no further updates; plus they also emphasized that the project itself is experimental. Secondly, in an ideal circumstance, if price of the project wishes to rise, it needs to strengthen the certainty I mentioned above. This is obviously not easy to do. In addition, the complexity of the economic model makes it easy for ordinary players to step into the trap. Although the floor price of Art Gobblers has fallen by more than 80%, the floor price is as high as 2Eth, so the error cost of buying is still much. If you want to join Art Gobblers, you need to carefully read all the information given on the official website and study the details of the rules of each module.