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Oct 27, 2022

A Glimpse at Art Gobblers

Jack Burt
Jack Burt

Writer

The market is heating up for Art Gobblers, the collection slotted as a ‘decentralized art factory’. If you don’t know about Art Gobblers, or only know a bit and want to learn more, we’re going to break it down here.

Who

Art Gobblers is the collaborative brainchild of Justin Roiland (co-creator of Rick & Morty – a show with over 10 billion lifetime views) and Paradigm (an influential crypto investment firm).

When

Art Gobblers were minted (for free) on October 31st. The mint was done via whitelist with a starting supply of 2,000 Gobblers (300 reserved for the development team), but an additional 8,000 Gobblers (800 reserved for the core team) will be progressively minted across time using Goo (more on Goo below).

What & How

There’s three key elements to the Art Gobblers’ ‘decentralized art factory’: Gobblers, Goo, and Pages.

The interaction between the aforementioned elements looks something like this:

Art Gobblers Project Flow Chart

  1. Gobblers produce Goo (caveat: multiple Gobblers can be spent to create a ‘Legendary Gobbler’, which produces 2x Goo).

  2. Goo can be spent on minting more Gobblers or purchasing Blank Pages (any Goo that is not spent auto-compounds).

  3. Blank Pages can be traded or drawn on using the Gobblers’ drawing tool, thus becoming Glaminated.

  4. Glaminated Pages can be sold, traded, or gobbled (going into the belly of your Gobbler which serves as a digital art gallery – note, if you decide to sell or transfer your Gobbler, all of the artworks it has gobbled will go along with it.)

Note:_ Since Goo has no supply cap, in order to keep Gobblers, Blank Pages, and in-game items’ value from running awry, the team has implemented a novel token issuance mechanism they dub VRGDA (Variable Rate Gradual Dutch Auctions). The general concept is that the mechanism will “raise prices if NFTs are sold ahead of schedule and lower them if they are sold behind schedule. [And] If sales are perfectly on schedule, the price to buy the next one will remain the same.” Interestingly, an early simulation of the game showed that the prices of Art Gobblers and Blank Pages go parabolic pretty quickly._

Why

You can start to see the general flywheel they’re going for with this project: It's about the art; as people use Blank Pages to produce intriguing Gobbler-native artworks, the Gobblers themselves gain relevance, which in turn attracts more artists and collectors to the Gobbler ecosystem, which in turn increases the quality of art produced in-game and the value of Gobblers holding up the system.

Art Gobblers drawing pad

That said, a lot is banking on high-quality artists producing art on these Blank Pages as opposed to their design software of choice. Nevertheless, the Gobblers’ drawing tool is unique, for instance, it records the creation process, so when someone visits a work in the ArtGobblers App, they can play back the entire creation. And, to date, there’s already been a number of beautiful, complex, and irreverent pieces produced using the sample drawing tool.

One last thing to keep in mind as time rolls on: the project has been rather explicit about the fact that “neither Justin, nor Paradigm, nor the Art Gobblers team plan to build anything net new after the upcoming free mint” because Art Gobblers is, in their own words, “a finished product, designed to bootstrap a self-sustaining ecosystem.”

That’s certainly a strong statement, but with Gobblers currently going for ~ 14 Eth, with ~ 30k Eth in volume traded in less than a week, we’re excited to see what these Gobblers, their Goo, and some Pages can produce.


Disclaimer: This is not financial, legal, or tax advice. This article is strictly educational and is not investment advice, legal advice, tax advice, or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not legal, financial, or tax advice. Talk to your lawyer, accountant, or tax professional. Do your own research. See Flip’s Terms of Service for more details.

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