2On high volume, CryptoDickbutts surpassed a few other notable NFT collections.

At the time of writing, daily trading volume for Ethereum-based NFTs on OpenSea has increased 690 percent to 290 ETH (approximately $495,000), propelling Dickbutts to the No. 6 spot for the day, ahead of established projects such as Goblintown, Cool Cats, and Art Blocks. Volume has increased by 135 percent in the last week.

K.C., a comic book artist, created it. Green in 2006, the Dickbutts quickly became a recognizable part of internet culture, appearing in countless memes on social media platforms such as Reddit for years. The OG collection, comprising 161 NFTs on Ethereum, debuted in March 2021 and was followed by a Series 3 of 5,200 NFTs in August of last year.

At the time of writing, the cheapest CryptoDickbutt from Series 3 is selling for 3 ETH, or slightly more than $5,100, a 31 percent increase in the last 24 hours. The floor price has never been higher; it has increased 163 percent in the previous month.

According to NFT Price Floor, it is still the 34th NFT project in terms of floor price. However, the steady rise of the collection reflects an underlying enthusiasm for the community and ongoing demand for it, fueled partly by meme culture. While some NFT projects fade out of favor as quickly as they emerge, it has proven to be resilient in terms of popularity.

The CryptoDickbutt DAO, which includes prominent figures like Steve Aoki, Blondish, and ProbCause, governs the project with no set roadmap.

It's unclear why the price is surging today, but flag-waving by Meltem Demirors, Chief Strategy Officer of CoinShares and a prominent Bitcoiner with a quarter-million followers, could be the catalyst. On Sunday, Demirors held an "emergency" Twitter Spaces to promote "the prophecy and the epic bang."

"The Dickbutt community has always been about one thing and one thing only, and that is the universal truth that one D equals one B... I also think that commenting on prices defeats the overall objective here. Dickbutts are not about investing. Dickbutts are a culture," Demirors said in the Twitter Spaces.



Source:
https://decrypt.co/106914/why-cryptodickbutts-ethereum-nft-surging-in-volume 

Author:
André Beganski

Posted 
Aug 8, 2022
 in 
Crypto News
 category

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