Gremplin Fuels Nakamigos Fire
Gremplin, a notable digital artist and co-founder of CrypToadz, leaned into the Nakamigos frenzy offering Nakamigos holders an opportunity to redeem a piece from the artist in return for burning a Nakamigos NFT.
Holders of Nakamigos were eligible to burn one Nakamigos NFT for a new Gremplin piece, "Fry Harvesters."
- Free to redeem, merely burn one Nakamigos NFT
- Quantity of 69 "Fry Harvesters" available
Using Manifold's burn to redeem functionality, Gremplin allowed Nakamigos holders the ability to send one to the burn address and receive "Fry Harvesters," in return. The burn offered an unlimted time to redeem, but it "burned out" before the night ended on Saturday.
❗Why It Matters
Interestingly, Gremplin may have unkowingly initiated a new meta, with users on Twitter reacting to the uniquness of this burn which called for the burning of a different collection for redemption of something new.
🎤 Community Quotes
Will we see Color Wars/Hunger Games break out amongst NFTs now that their can be Utility introduced thru @manifoldxyz incentivize burning other NFT collections? This will be FASCINATING! 🔥ANoNakamoto
📊 By the Numbers
At the time of the burn, users were required to part ways with a Nakamigos around 0.7 ETH. "Fry Harvester," the redeemed piece, now holds a floor price of 1.4 ETH, nearly a 2x for those who redeemed. A handful of sales were registered between 0.8-1 ETH last night.
Additionally, the Burn Address is now No. 26 on the list of biggest Nakamigos holders, according to OpenSea.