OSF Announces Rektguy NFT Buyback Plan and New Tattoo
Rektguy co-founder OSF announced a formal NFT buyback strategy this morning via a brief Twitter thread.
The team (OSF and Mando) will use 20 percent of profits from the following streams to fund the buybacks as they build out a rektguy vault:
- OSF Art
- rekt Merch
- rekt Events
- rekt Media
- rekt Sponsorships
It will be interesting to monitor those profit streams and how they perform. The rektguy founders are an integral part of the Rug Radio morning show, which shared that it has received over 300 ETH in sponsorship revenue since August. The team has recently launched a new show rektradio, with marquee guests such as Seedphrase, Bharat Krymo, and Cirrus.
The highest-performing profit stream may well be OSF's artwork. He is currently the 15th-ranked artist on SuperRare by total sales this year, with $744,504 in primary revenue and an additional $267,878 in secondary sales. That does not include his OpenSea editions, which have seen over 1,700 ETH in volume across Red Light District, and his OSF Editions. Those royalties plus ongoing primary sales are set up to be a major source of income, which will benefit rektguy holders now through these buybacks.
To date, the team has acquired 149 total rektguy NFTs held in two wallets. OSF shared that the NFTs may be used to secure partnerships, but the ultimate goal is to display them in a physical gallery in the future.
The market has reacted well to the news, with rektguy up about 10 percent to a 1.08 ETH floor (+21% on the day). There are about 450 listings to the next major milestone of 2 ETH.
OSF has also stayed true to his word of getting a rektguy tattoo when the project re-took the 1 ETH floor, sharing images on his Twitter this morning. The tattoo appears to be a laser-eyed rektguy with a gm hoodie and is etched on OSF's abdomen.
As promised. @rektguyNFT pic.twitter.com/yjeTdIytJk— OSF (@osf_nft) December 13, 2022
It's doubtful this is the last rektguy tattoo to be debuted, at members of this rabid community have shared their own plans to get tattoos if the project reaches various meme prices such at 4.2 ETH and 6.9 ETH, amongst others.