Simple NFT Stick Figures Are Selling For $13K. Here’s Why

Profiles NFTs are confusing at the best of times, as people who spend five digits on art are never hard to understand. Still, most successful non-fungible token (NFT) collections have consistent logic.Cryptocurrency rich people drop 6 numbers CryptoPunks It has historical value as the first NFT collection in history.They spend more Boring Ape Yacht Club NFT Because the brand is big enough for something like Adidas When Rolling stone Work together. However, when it comes to NFTs, even if you think you are open-minded, you may have a hard time accepting “”.mfers.. “

Similar to the popular collection above, mfers are a set of about 10,000 NFTs (10,021 to be exact). Each artwork in the collection is a stickman wearing headphones to type on the keyboard outside the frame. Since its screening on November 30, more than $ 110 million of mfers have been bought and sold by NFT traders, with most Hollywood movies outpacing box office revenue.

If you want to get one, the cheapest mfer listed on the NFT Marketplace OpenSea is 3.97 Ether. That’s a few dollars less than $ 14,000.

Even if you consider Cryptocurrency-rich background for most NFT traders –If you buy ether for $ 40 instead of $ 4,000, it’s easier to drop 3 ethers into an interesting jpeg-mfers’ success is rare. Dozens of NFT projects are launched every day. Many are scams, more are money-grabbing, and most legal attempts fail quickly. A small part reaches the height achieved by mfers in the last four months. It is ranked 44th on OpenSea’s record high volume chart.

And that’s ridiculous. Mfers are all that people hate about NFTs. In other words, simple art is sold at insulting high prices. However, like many success stories in the crypto area, it’s more complex.

The underlying mfers meme art is a cheerful, intellectual property debate. A few “CC0“NFT collection. This means it’s in the public domain. Its creator doesn’t own the image and people are free to use the mfer brand. The idea is that if the mfer brand grows, mfer It means that the brand will benefit. If no one owns the copyright, it’s essentially an experiment to see if the brand building can be completely cloudsourced.

The collection was created by a popular person twitter The personality of Satoshi, a fusion of “art” and Satoshi Nakamoto, the founder of Bitcoin.It was inspired by “Are you winning your son?” According to Know Your Meme, the meme is centered around a dad walking over his son playing a VR metamorphosis porn game. In the same style as the meme, Saltoshi portrayed a stickman sitting on a desk chair, tapping the keyboard and smoking a cigarette hanging from his mouth. Before it became the NFT collection, it was used as a profile picture on Twitter, but now it has more than 160,000 followers.

“I draw my own paintings and make’real’art, but I never made the Mona Lisa here,” Saltoshi told me on Twitter DM. Like most people in the Web3 world, he asked to remain anonymous. “The idea was to create a cool sketchy NFT that people could identify, release the copyright of the art, and see what the universe would do with it.”

The collection was full of internet meme culture from the beginning. Starting November 30th, the public sale started at 4:20 pm and the price was set at 0.069 ether ($ 230) per mfer. Thanks to Sartoshi’s follow-up, all 10,000 were sold out instantly.

But, as is often the case in the NFT market, mfers have been in the spotlight for a day or two, but their brilliance has faded as they move on to the next high-profile project. By the end of December, sales had slowed and the lowest price (the cheapest on the market) had fallen to 0.05 ether, below the public selling price. Mfers began to recover in January and exploded in February. As momentum began to gain (the NFT collection is particularly strong because it sells primarily on the basis of hype), buyers flocked and pushed the minimum price to 6 ethers ($ 18,000). Like all collections, mfers have different characteristics, some of which are rarer than other collections. One trader dropped 80 ethers, a whopping $ 270,000. This unusual mfer..

After that, the minimum charge is balanced with 2.5-4 ethers. It still doesn’t make mfers a “good” NFT. This usually refers to a small collection that can maintain a minimum price of 10 ethers or more, but mfers are significantly more successful than 99% of the collection.

Sartoshi believes he was able to make mfer stand out by avoiding the hype that accompanies most NFT launches. With so many NFT creators breathtakingly advocating the art of their collections, no one could pretend that art was revolutionary in stickman paintings.

“Most NFT collections contain very basic art, but these people are all spending money on them and suddenly they fall to their desks and say,” Art is great. ” .. Basically, I always joked that there were many characters in the serial box. “

the same as DogecoinAll that stupidity was a big attraction and spread throughout the NFT circle, as good memes became a hot topic on Twitter. Still, the success of the collection can be equally chalked into an approach to intellectual property, that is, sentences that feel ridiculous to write. The fact that Sartoshi made mfers a public domain collection makes it unusual. Some creators, such as CryptoPunks’ Larva Labs, reserve the right to all IPs in the collection. Others, such as the Yuga Labs at Bored Ape Yacht Club, give rights only to their owners and still only to certain NFTs they own. (Yuga Labs said it bought CryptoPunks from Larva Labs last month and said it would extend the same copyright to CryptoPunks owners as it was given to Bored Ape Yacht Club owners. Supporting CC0 collections like mfers that can’t be purchased the same way. To do.)

“NFTs are not just rails that run decentralized, but extend it to NFTs,” explains Giancarlo Chuax, a former equity analyst who currently runs a YouTube channel that analyzes NFTs. “Compare it to the boring Ape Yacht Club, which has a centralized person who manages the brand. CC0 [public domain] The project doesn’t have it. Everyone can point the brand in any direction, and some feel loyal to the content of the Internet. ”

In an industry with people true Attention to decentralization is the idea that mfer is sticking. Even if I admit that it could end up in a chaotic failure, as a few did at the invited Twitter Spaces.

Sartoshi takes a completely pragmatic approach, supporting and leading the community from a distance rather than actively participating. Owners of mfer are busy building their brands, often using 9 to 5 skills. Some design and manufacture goods. One of the community mods, MasterChanX, operates an online radio station, Mfer Radio. This radio station hosts Shark Tank-style programming that evaluates ideas for mfers-derived collections, such as: 3DMfers.. One owner, Richard Chiu, has acting and producing experience in Hollywood and is making mfer films. Someone even paid from their pockets to put the mfer in Times Square.

“Statistical odds [of success] It gets higher when unlimited creations are made, “one owner told me.

Although frivolous in appearance, Chaux states that collections can significantly change the way we think about intellectual property. “The idea that something is born from scratch and organically foams without the traditional incentive to own the copyright of the image is [would be] It’s pretty revolutionary, “Chaux claims. “There are some interesting examples that worked, such as Cryptoadz, Nouns, and mfers, but they are all fairly new. This experiment is at most a few months old.”

Sartoshi himself speculates that the combination of NFT technology and public domain IP could be powerful, but for him it’s not the main attraction of mfer.

“What is a utility? Well, you can make whatever you like with them, but at the same time, what is the utility of Mickey Mantle’s rookie card?” He sees a baseball card. Said Recently sold for $ 5.2 million..

“Answer: They are very sweet. Some might say that mfers are pretty sweet.”