69 Nakamigos sacrificed in the last 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 burning of 1 Nakamigo to mint, a first in NFT history. Gremplin’s issue 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 Nakamigos

First, 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 unique characters each with their own story and personality. It’s clear that these unique digital characters have taken the space by storm. Despite being only 18 days old, the Nakamigos have already amassed a massive following and a strong community. In addition, the collection’s versatility is a prominent 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 best-selling profile picture collection of 6,969 toads, and the Moonbirds Oddities collection. Ultimately, Gremplin’s signature style mixes unique creatures with cryptomeme culture, and he has had a huge impact on the NFT space.

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

Gremplin has rocked the NFT world! Oddly enough, his last drop made history in more ways than one. The digital artist surprised everyone on Saturday night by releasing a new release, “AN EYE FOR A FRY”. This required burning a Nakamigo to imprint the piece, a move without parallel. The issue of 69 sold out within two hours, causing the price of Nakamigos to increase by 15%, with the 69 burned now lost forever. Gremplin’s “Fry Harvesters” collection now has a floor of 0.749 ETH, just below Nakamigo’s. But, what does this really mean?

Gremplin’s NFT collection reinforces the cultural significance of the Nakamigo 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 Nakamigo’s currently at an all-time high.

However, Gremplin’s new hot-to-cash feature has raised concerns about its potential impact on the value of popular collections. This game-changing feature could lead to more collections being burned to create new editions, potentially devaluing those collections. Only time will tell if this feature becomes the new norm in the NFT world.

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