Art Gobblers - The latest NFT hype to prove how most NFTs are simply scams

We are currently all in love with avatars - but there is a new hype going on in the NFT space, called "Art Gobblers" - A project that created over 36 million USD exclusively for friends and family of the creators within 2 days.

"Art Gobblers" are alien-like creatures that consume art. Artists can draw a pictures on "Blank Pages" and feed it to a Gobbler. The Gobbler then displays the picture forever in his stomach and produces a currency called "Goo". Goo is a regular token within this "game" and needed to produce more blank pages and Gobblers. This is very simplified, for more details you can view their faq.

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The Art Gobbler economy

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This game just started minting at 31st of October. Let's have a look at the current stats on OpenSea:

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The current stats of the \"Art Gobbler\" collection on OpenSea

A trading volume of over 13M$ in two days and floor price at 13.333 ETH, or over 20k$ for an Art Gobbler. That's what you need so start participating in this game. Also note how the unique owners is already at 51%. The biggest four whales on this project already hold 62, 56, 53 and 40 Gobblers. Values between 1.2M and 800k USD. In the last 10 hours alone the unique owners dropped by 4% while the top 3 whales all picked up at least 5 new Gobblers.

Who minted these initial Gobblers? The creators whitelisted certain artists and influencers to mint them for free. These pre-selected people have all that is needed to produce everything inside this ecosystem to mint more Gobblers and Pages, or they decide to sell it for 20k$ right now.

This project appears to be nothing like a scam. The founders found a way to create a value of over 36M$ for their selected "friends and family", and by magic the floor price is kept at this insane level. Most of the volume is produced by some whales that could as well be the projects founders themselves. No one can tell me this market dynamic is real, considering Gobblers and Goo will later be highly inflated through the in-game dynamics.

In my opinion this combines like everything that is broken with the current state of the art NFT market. Nothing but a huge cash grab disguised as an art project with some game-like features, advertised as "utility".