Flash Bounty: Art Gobblers

Art Gobblers is a pre-reveal NFT project that generates "goo" when you feed it (upload) art you've created. Some say the project is revitalizing NFTs in the bear market - Compare various metrics across NFT activity to support or oppose that idea. Then evaluate how the project's metrics stack up to other top NFT collections before their art reveals. Create a dashboard that shows off stats for Art Gobblers NFTs, and compare it to other top collections. Include at least these metrics, along with any others you find notable or interesting: -Mint volume -Total and Average Sales Volume -Secondary Sales vs Mint sales -Daily Average Sales Price and 7-day moving average -Floor price -% of Gobblers Listed -Total Unique Buyers -Social Mentions/Shares -Any available metrics on GOO token and art uploads -Broader activity in the NFT space

Definition

What is NFT?

A non-fungible token (NFT) is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership. The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded. NFTs can be created by anybody, and require few or no coding skills to create. NFTs typically contain references to digital files such as photos, videos, and audio. Because NFTs are uniquely identifiable assets, they differ from cryptocurrencies, which are fungible.

What is Art Gobblers NFT?

In the project’s own words, Art Gobblers is an “experimental decentralized art factory” by Justin Roiland and Paradigm. The project ecosystem revolves around Art Gobblers NFTs and the GOO token. In essence, there are 1,700 NFTs in the collection, which was free-to-mint for whitelisted users. The project also has plans to release an additional 8,000 NFTs over the next decade.

Four major parts of Art Gobblers project

The project includes four major components:

Gobblers: the creative characters that”gobble” art
Goo: the native token, obtainedby Gobblers
Art: central focus, created on blank pages
Blank pages: canvases on whichart can be created

How Does Art Gobblers NFT work?

Firstly, each NFT in the collection functions as an art gallery that “squirt Goo and gobble art”. In simpler terms, NFT holders can create and sell their own art. To elaborate, those who hold Gobblers can earn GOO, the project’s ERC-20 token. Using the token, NFT holders can create art on the Art Gobblers website, “digest” the work, and display it on their “art bellies”.

Alternatively, they can also create blank page NFTs. To explain, these are digital canvases that users can digest, trade, or use to create custom art. It is to be noted that the artwork’s ownership as well transfers with the NFT. Art Gobblers’ innovative NFT minting mechanism is one of the primary reasons for the project’s current hype.

The project’s tokenomics, however, is slightly controversial. Essentially, users can earn GOO by holding Gobblers—the more GOO a Gobbler has, the higher the GOO it emits. Consequently, the process enables NFT whales to earn exponentially, establishing an unfair monopoly. (Written By Reethu Ravi)

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Methodology

In this dashboard, we seek to answer the questions mentioned at the beginning of the dashboard. For this purpose, we have used the tables in ethereum.core.

In the following, we will examine the following:

First, we will check Mint's activities
Second, we examine secondary sales activities

Note: considering that these tokens have been ready for the market for only 4 days, therefore, the 7-day moving average is not meaningful for this collection, so it is considered economical to calculate it.

Analysis of mint activities

Analysis of secondary sale activities for Art Gobblers NFT

Observations

An average fee of 0.003 ETH was paid per token mined.
Approximately 5.7 ETH have been paid for the total tokens minted in the Art Gobblers Collection.
The total number of mints in the Art Gobblers collection was equal to 1884, while the number of unique minters was 1882, so according to the pigeon nest principle, there is at least one minter who received more than one mint token.
1882 Art Gobblers NFT tokens have been minted, approximately 57% of them have been sold after minting and the remaining 43% are still kept in their owners' wallets.
The average price of Art Gobblers NFT tokens that are traded has an upward trend.
Currently, each token from the Art Gobblers collection is worth an average of $22,000.
The most expensive token has been traded for approximately $42,000 and the cheapest token has been traded for approximately $5,000 during this period.
The number of unique sellers of these NFTs is approximately 1.7 times the number of unique buyers. This shows that the buyers of these NFTs are trying to buy more NFTs (more than one NFT).
If we pay attention to the graph of the number of sales transactions of Art Gobblers collection tokens, we can see that the number of sales transactions is almost decreasing.

Art Gobblers Social Mentions/Shares

Art Gobblers Website:

Art Gobblers Twitter:

List of Tweets with @ArtGobblers Mention:

List of Tweets with #ArtGobblers Hashtag:

List of Posts with #artgobblers Hashtag in Instagram: