69 Nakamigos Sacrificed in Latest Gremplin NFT Drop

The NFT world is buzzing about Gremplin’s latest drop, “AN EYE FOR A FRY.” Significantly, the Gremplin NFT drop made history with a new burn-to-redeem feature. This unique drop required the burn of 1 Nakamigos to mint, a first in NFT history. Gremplin’s edition of 69 NFTs sold out in two hours, increasing the Nakamigos floor by 15%. So, what does all this mean? Let’s dive in!

What We Know About Gremplin and The Nakamigos

Firstly, let’s take a look at The Nakamigos. The project is making huge waves in the NFT world, with rumors linking it to big names like Gremplin, Beeple, and Yuga Labs. The collection boasts 10,000 one-of-a-kind characters each with their own story and personality. Markedly, these unique digital characters have taken the space by storm. Despite being just 18 days old, the Nakamigos has already amassed a massive following and strong community. Moreover, the collection’s versatility is a standout feature. The NFTs are ideal for gaming, social media, advertising, and merchandise collaborations, including a high-profile collaboration with 10KTF.

Gremplin is the anonymous artist behind CrypToadz, a top-selling profile picture collection of 6,969 toads, and the Moonbirds Oddities collection. Ultimately, Gremplin’s signature style mixes unique creatures with crypto meme culture, and he has had a huge impact in the NFT space.

Gremplin’s Burn-to-Redeem Event: A Moment in NFT History

Gremplin has shaken the NFT world! Markedly, his latest drop created history in multiple ways. The digital artist surprised everyone on Saturday night by releasing a new edition, “AN EYE FOR A FRY.” This required burning one Nakamigo to mint the piece, an unprecedented move. The edition of 69 sold out within two hours, causing the price of Nakamigos to shoot up 15%, with the 69 burned ones now lost forever. Gremplin’s “Fry Harvesters” collection now has a floor of 0.749 ETH, just below that of the Nakamigos. But, what does this actually mean?

Gremplin’s NFT collection is solidifying the cultural significance of the Nakamigos community in the NFT space. Three major artists have already used Nakamigos in their work within a week, despite the collection being only 18 days old. This is reflected in the market, with the Nakamigos currently at an all-time high.

However, Gremplin’s new burn-to-redeem feature has sparked concerns about its potential impact on the value of popular collections. This game-changing feature could result in more collections being burned to mint new editions, potentially devaluing those collections. Only time will tell if this feature will become the new norm in the NFT world.

Ultimately, Gremplin’s groundbreaking burn-to-redeem event has made digital art and PFP history, but its lasting impact on the NFT space remains to be seen.

The post 69 Nakamigos Sacrificed in Latest Gremplin NFT Drop appeared first on NFT Evening.