The NFT space has been booming the past few months. In fact, over the past six months, the total number of transactions of NFTs on OpenSea has skyrocketed. The NFT metaverse keeps on growing as new projects get created. We take a look at Gutter Cat Gang, a new and possibly blue-chip NFT that launched a couple of months ago.
What are Blue Chip NFTs?
In 2017, John and Matt launched the CryptoPunks NFT collection. In the same year, Travis Uhrig and his team launched My Curio Cards on Ethereum. But it was only until recently that they became worth small (and sometimes not so small) fortunes. Most of these million-dollar NFTs are blue-chip. This means their creators are well established, well-recognized, and stable. In most cases, blue-chip crypto, stock, or in this case, NFT, will stand the test of time and weather bear markets and difficult financial periods.
What is Gutter Cat Gang NFT?
The Gutter Cat Gang is the latest blue-chip NFT after the Bored Ape Yacht Club. It is a collection of 3000 unique NFTs on the Ethereum blockchain. According to the Gutter Cat Gang website, the Gutter Cat Gang NFT collection tells the story of Gutter Cats who live on post-apocalyptic earth in the year 2050. The earth is devoid of humans, who are now interplanetary species. The cats now rule the earth. The site claims that owning a Gutter Cat NFT serves as initiation into the Gang.
Why is Gutter Cat Gang a Blue Chip NFT Project?
Firstly, the price of the Gutter Cats on OpenSea speaks for itself. Price is always a good indicator of how valuable people think an item is. The floor price for any Gutter Cat is 5.85 ETH on OpenSea. So far, the volume traded has reached 10 ETH in only two months of launching. This indicates demand for these NFTs.
Secondly, the community around the project is very vibrant. Cryptocurrencies such as Bitcoin and Ethereum survived because of a strong community around them. As the community grew, it recruited billionaire tycoons, heads of states, and even policymakers. The Gutter Cat Gang Community is growing and has even recruited Dez Bryant, a former NFL player. Big names tend to spread the news faster, further enlarging the community.
Finally, the project creators are busy at work making partnerships and growing the Gutter Cat universe. Since the launch of the project, they have introduced Gutter Rats, and soon, Catz will be launching. The founders have made partnerships with Nifty Slabs, an NFT minting platform, and Blaze Games, an NFT utilization studio that promotes the virtual gaming world Sandbox. On top of that, they have also created their own Decentralized Autonomous Organization (DAO) called the Gutter Cat Gang DAO. The community will run the organization.
In conclusion, Gutter Cat Gang seems to be a legitimate project. They have a good foundation and are constantly building and expanding their NFT universe. I, for one, am interested to see where the Gutter Cat Gang adds next to the Gutter Cat’s story of survival. Cheers!