What The Sh*t? Details on the New Deflationary NFT Project
Free mints meta has overtaken the NFT market in recent weeks, giving rise to new projects built with distinct features and art.
One of those new projects, "ill poop it" has gained attention for its images of steaming piles of excrement.
But despite the not-so-pleasant imagery, the collection has captivated the NFT market over the last week, trading more than 3,000 ETH in the seven days since its launch.
Below, we'll give a bit more detail about what we know of the ill poop it NFT project and its growing ecosystem.
What is ill poop it NFT?
The ill poop it NFT collection is made up of 10,000 "piles of sh*t" NFTs on the Ethereum blockchain, according to the project's official description.
The project has no defined roadmap nor a Discord for its community of holders.
Instead, just a Twitter account, and a website - pieceofshit.wtf - adorn its official OpenSea profile.
The project initially launched on May 30, minting its final NFTs just a day later on May 31.
The first 2,000 ill poop it NFTs were available for free to whitelisted wallets, which were able to mint a maximum of two ill poop it NFTs.
The remaining 8,000 mints were available to the general public at a cost of 0.00777 ETH each.
The Rest of the ill poop it NFT Ecosystem...It's Not Just Sh*t
Perhaps fortunately for collectors and speculators, the ambitions and work ethic of the ill poop it NFT team do not align with the imagery which has helped the project gain its notoriety.
Since the launch, the ill poop it team has launched Sh*tbeasts, a $SHIT token, Sh*tPlungers, a bathroom cleaner, and a Sh*tty Shop.
So how did we get here? And what is going on with this collection?
Below we'll walk through the ill poop it NFT ecosystem components.
The second NFT collection with a connection to ill poop it is Sh*tBeasts, another collection of 10,000 NFTs on the Ethereum blockchain.
Sh*tBeasts could be acquired in two ways.
The first way to obtain a Sh*tBeast was through a burning utilized by ill poop it NFTs. Holders who burned two ill poop it NFTs received one Sh*tBeast in return, plus an allotment of $SHIT tokens.
After, the project also hosted a small public sale where Sh*tBeats could be minted for 0.06 ETH.
The collection is built into two types, Genesis and Normal Sh*tBeasts.
Genesis Sh*tBeasts, which could only be obtained by burning ill poop it NFTs, hold the token IDs 0-3,904. This also corresponds to the number of ill poop it NFTs which were burned (approximately 7,800).
Everyone loves a utility token!
The ill poop it NFT team has implemented a native token, $SHIT, for use in the ill poop it ecosystem.
$SHIT has a fixed supply of 100 trillion tokens, though 25 percent of the supply was sent to Vitalik Buterin, the founder of the Ethereum blockchain. The project has burned the keys to the contract owner, ensuring that the token supply can never be increased.
The token was given to all ill poop it NFT holders who burned their respective NFTs for Sh*tBeasts. Additionally, users can purchase the token via decentralized exchanges like UniSwap.
At the time of writing, 1M $SHIT tokens are worth approximately $0.76.
Sh*itty Shop and Sh*tPlunger
The Sh*tty Shop is officially open.
The first available item?
Minted for 500M $SHIT each, Sh*tPlungers are a brand new ERC-1155 NFT available on OpenSea.
The collection's mint is taking place in what is being called an "Anti-Dutch auction."
The mint price started at 500M $SHIT, but increases another 500M tokens every 30 minutes until a resting price of 2B tokens.
At that point in time, the price will go back to 500M until the collection is sold out.
Think the plunger has no use?
Holders of the Sh*tPlunger will be able to use it with an allotment of $SHIT to pixelate the original poop NFTs.
A future component of the ill poop it NFT ecosystem, the bathroom cleanser, will be used on Sh*tBeats NFTs.
The bathroom cleaner will be airdropped to all those who burned ill poop it NFTs, but the public will need to mint it using the $SHIT token.
These cleaners will also come in two types - one for airdrop recipients, and another for the general public.
Only those who receive the airdropped cleaner will be able to use it to upgrade their Sh*tBeast NFT for a rarer version when the project reaches Phase 3.
ill poop it Market Data
The ill poop it NFT ecosystem has been atop the NFT market volume rankings during the last week.
Below, find all the individual collection floor prices at the time of writing:
- ill poop it NFT = 1.3 ETH
- Sh*tBeasts = 0.54 ETH
- Sh*tPlunger = 0.248 ETH
To stay updated on all the latest market data, refer to our project rankings page.
As more happens in the ill poop it NFT ecosystem, you can find coverage of it and all things NFTs on our curated newsfeed!