At Rarity Sniper, we like when a feel-good story bubbles up in the NFT space. If you’ve been paying attention to Crypto Twitter the last 40 hours like we have, then you already know a new mania has taken over, and conceptual artist’s Jack Butcher’s good deeds are behind it.
The ThreadGuy Opepen NFT craze was sparked when Jack Butcher, the writer and artist behind the wildly popular Opepen NFTs that launched in January, gifted a custom NFT to an important influencer in the space named ThreadGuy.
The small act of kindness ignited a frenzy in Web3 that has put the camaraderie of the NFT space and the strength of its culture on full display. It’s also led to a boost in the floor price of Jack Butcher’s Opepen Edition NFTs, as well as fans, artists, and world-famous creators getting in on the fun.
How It Went Down
Earlier this week, Threadguy, a much-adored influencer in Web3 recognized for his Mutant Ape avatar, started discussions in the NFT space about changing his profile picture to an Opepen NFT. Shortly after, Butcher took it upon himself to create a custom Opepen image for ThreadGuy inspired by the colors of his Mutant Ape.
Moved by the gesture, ThreadGuy posted the NFT as his PFP, triggering waves of enthusiasm throughout NFT-landia. Other creators followed with their own stylized versions of Opepen NFTs as well (and are continuing to do so).
Then, on July 16th, Beeple — arguably the most renowned NFT artist in the world — posted an image that paid homage to Opepen NFTs, accompanied by the tagline “For the culture.” As one might imagine, this sent another wave of excitement through Web3 waters.
But the big news besides the good vibe NFT gifting is that the movement led to the launch of the ‘Opepen Threadition’ collection. The open-edition NFTs are priced at 0.001 ETH (~$2) each, with sales dedicated to ThreadGuy as a show of gratitude for his contributions to the Web3 community. So far, over 47,000 NFTs have been minted and there are nearly 12,000 unique owners.
What Are Opepen NFTs?
On January 8th, 2023, Web3 standout Jack Butcher known for his highly successful Checks NFTs, launched the Opepen NFTs on the Ethereum blockchain. During a 60-minute open edition drop window, 16,000 dynamic NFTs were minted.
Billed simply as “This is not a pfp project,” the geometrically shaped, Pepe-themed frog NFTs that evolve with time were said to be a community-driven experiment investigating ideas of scarcity, uniqueness, and abundance in Web3. And they have been wildly successful — even before the most recent pump.
The current floor price of an Opepen NFT is .78 ETH (or around $1,500), and individual NFTs from the collection have sold for as high as $58,000. Currently, the total sales volume for Opepen NFTs on OpenSea is 67,833 ETH (around $129 million).
Even amidst an NFT bear market, Jack Butcher and his team have been able to thrive and start new trends in the space. This latest movement with the ThreadGuy Opepen NFTs is more evidence of Butcher’s dominance in Web3, even if he is dominating the space with kindness.
At Rarity Sniper, we’ll be on the lookout for any updates in the story.
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