CrypToadz are owning the Collectible space with its referential art NFTs. It is the brainchild of Gremplin, the artist behind the iconic art of Nouns DAO. The sold-out series of 6969 toad-themed Collectibles leaped through the NFT charts since its launch last September 8.
The narrative behind the Collection was injected with tons of crypto and NFT references. For example, CrypToadz are small amphibious creatures that roam the swampy basin of Uniswamp, which is a reference to the Uniswap Exchange.
Price Action, Dominating NFT Charts
Despite being a new collectible with barely a month of history, CrypToadz brought in a massive volume. At its opening week, the total tradeable volume was at 5500 ETH or over $17 Million. So five days post-launch, the project ranked 3rd on OpenSea’s list of top new NFT Collectibles.
As of press time, the project has amassed a total tradeable volume of 12,100 ETH or almost $41 Million. During the Drop, the NFTs were available to mint for .069 but the floor price has climbed to 1.61 ETH or around $5,500. A solid return of 79000x for the early believers.
So what exactly is pulling in the NFT Community towards the project?
The Charm of CrypToadz
The community was instantly drawn to the project because of Gremplin’s involvement. First to jump on board are Punk NFT owners who immediately changed their Twitter avatar to their newest Toadz NFTs. The project attracted the NFT OGs because of the artist, the art and the unique narrative.
The OGs particularly enjoyed how Gremplin played around and infused NFT history into the Collection. In an interview with Defiant, James Wyper, a Toadz holder and friend of Gremplin, shared that “There are so many inside-references and Easter eggs in the Toadz designs.” Making Gremplin the “visual historian of the space.”
Aside from using his deep knowledge of the NFT Space, Gremplin also leveraged the success of his Noun DAO NFTs. To elaborate, all the Toadz sports the trademark square glasses that all the daily generated NFTs feature. Meanwhile, some CrypToadz have a cigarette as a homage to Punk #961. Then, there are also others wearing sports shades that look eerily similar to the Pit Viper sunglasses associated with the Solana blockchain.
Before hitting the mainstream, NFTs were patronized by a niche but very engaged market. So Gremplin’s personal touches are very endearing and personal, especially for those who have been in space since the start.
The eight other artists behind the Collection are all Punk holders. Gremplin reportedly customized a CrypToad for each artist. The collection also caught the attention of Christie’s NFT Guy, Noah Davis. He is a proud CrypToadz NFT holder and uses it as his Twitter PFP. Commenting on the project, he said, “It’s like all the weird art kids and the finance club got a table together at university and started talking and building together 24/7.
What’s Next?
As with other Collectibles, the next phase for Cryptoadz is to build a utility for the NFT Holders. The project is showing proactiveness by donating 120 ETH or close to $300,000 to the Rainforest Foundation. Furthermore, based on the Discord announcement, the plan is to buy a plot and build an entertainment area on Cryptovoxels’ user-owned virtual world.
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