Gremplin’s Epic Burn-To-Redeem Event: Has He Opened Pandora’s Box? | NFT CULTURE | NFT News | Web3 culture
The NFT world is abuzz with news of Gremplin’s latest drop, which has made history in more ways than one. On Saturday night, the digital artist pulled off a massive surprise event, releasing a new release called “AN EYE FOR A FRY.” What made this drop so unique was that it required the burning of 1 Nakamigo to stamp the piece.
This had never been done before, and the implications of this new burn-for-redemption feature are huge. Gremplin’s edition of 69 was minted in just two hours, and the 69 Nakamigos burned in the process are now gone forever. The Nakamigos floor has increased by 15% since the event, and Gremplin’s “Fry Harvesters” collection has a current floor of 0.749 ETH, slightly below the Nakamigos floor.
But what does all this mean? First, it cements the Nakamigos collection and community as culturally important in the NFT space. Three major artists/teams have used Nakamigos in their work in just one week, and the collection is only 18 days old. The market is backing this up, with Nakas at an all-time high this morning.
However, some wonder if Gremplin has opened Pandora’s box with this new feature to burn to redeem. It’s a game-changer that could potentially lead to the burning of more popular collections to create new editions, ultimately damaging the value of those collections. Only time will tell if this feature becomes the new norm in the NFT world.
Overall, Gremplin’s epic burn-to-redeem event has made digital art and PFP history, but it remains to be seen if it will have a lasting impact on the NFT space.
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— gernplam (@gremplin) April 4, 2023
Gremplin vs. Nakamigos
The Nakamigos project has been making waves in the NFT space and is possibly the biggest project of 2023 so far. Rumors have swirled that some of the biggest names in the industry, from Gremplin to Beeple and even Yuga Labs, are connected to the project in one way or another.
So what exactly are Nakamigos? They are a collection of 10,000 unique digital characters that have taken the NFT world by storm. Each Nakamigo is unique and comes with its own story and personality traits. The project was launched only 18 days ago, but it has already gained a massive following and a strong community.
One of the most notable things about Nakamigos is their versatility. They can be used in a variety of ways, from games and social media to advertising and merchandise. This versatility has led to some high-profile collaborations, including with 10KTF, who featured Nakamigos in a “Wanted” poster from their main Twitter account.
Beeple, the acclaimed digital artist, has also noticed Nakamigos. He recently reminded them in one of his Everyday pieces and promised a Chapter 2 in a 1 ETH floor (although he has already included them again). This is a huge endorsement from one of the most respected artists in the NFT space.
And then there’s Gremplin. There was speculation that he was behind the Nakamigos project, but his recent burn-to-redeem event has put that theory to rest. However, he has cemented the Nakamigos in art history by including them in his first of its kind mint, which required the firing of 1 Nakamigo to mint his new issue called “AN EYE FOR A FRY.”
With all these high-profile collaborations and endorsements, it’s no wonder Nakamigos is becoming culturally significant in the NFT space. And with rumors of even more big names getting involved in the project, it’s clear that the Nakamigos are here to stay. Keep an eye on this project over the coming months – it’s sure to be a game-changer.
