From Poop to Blue Chip NFTs, “Bad” NFTs Are Impacting the Market

Quick Take:

• Ill poop it started preparing on May 30, 2022. Without marketing activities, it was launched one day later to start casting
• There are 10k ill poop it, of which 777 are free mints randomly determined, and the rest are public mints with a price of 0.00777 ETH.
• Ill poop it has neither Discord nor a Roadmap, just a Twitter account and a website: https://pieceofshit.wtf/
• Ill poop it introduces the combustion mechanism and takes the first generation ill poop it as the “energy” to continuously consume and synthesize new NFT, “props” and tokens
• As of June 14, shitlab, the issuer of ill poop it, has launched six series of projects: ill poop it, shitbeats, ShitPlunger, $SHIT, Pixel POOP and NoShitZone. Among them, $SHIT is also a token project, and NoShitZone is a new project just launched on OpenSea.

On the morning of June 14, ill poop it official Twitter @pieceofshit_wtf was opening a new round of airdrop and tweet to remind the holders of ShitBeats to check their wallets.

The teaser image of ill poop it is very interesting. All kinds of monsters, angels, elves and other creatures are queuing up to enter the “detergent” sale center. This seems to continue to suggest that ShitBeats can achieve species cleaning and transformation through this new airdrop.

This move pushed the price of $SHIT, an ecological token of the ill poop it series, up to an all-time high on June 14.

Source: Drops Tab

Recently, NFT and tokens, represented by ill poop it, which look “bad” and “rough”, stand on the opposite side of the bear market.

For the recent NFT market, a series of projects with extreme decadence and ugly style has become the source of activity in the market.

From the end of May to the beginning of June, when Goblintown conquered the world with “No roadmap. No Discord. No utility. CC0”, it seemed to open a new road for the sweltering NFT market.

The emergence of ill poop it is also bewildering but exciting. It seems that the project was approved and sold out in only one day, and it took 15 days to complete the replacement and transformation of three generations of NFTs.

In its official words, “if you feel familiar (the market seems to have returned days a few months ago), it is because we use only 15 days to complete the work that lazy blue-chip NFTs need a year!”

From a piece of shit to a multi-project ecosystem with tokens, ill poop it really did it in a short time. And from their official Twitter, it seems that they are also planning a pixel metaverse.

So where does the motivation for the success of ill poop it come from? Why does ill poop it stand out in the imitation of memes and satire? The main driving forces include the following two aspects:

Use the Shell of Knockoffs to Package the Core of the Blue Chip

Ill poop it and goblintown were launched almost at the same time, but the outbreak of their discussions was still several days behind goblintown.

However, the popularity of goblintown has laid the foundation for ill poop it, which has the same rough painting style, ridicules blue-chip NFTs, and has no discord or roadmap.

Since June, goblintown’s knockoffs have emerged in an endless stream. On June 2, goblintown and its knockoffs accounted for 43.7% of the total trading volume of OpenSea and 32% of the total trading volume of ETH.

For Example:

• Goblin Grlz for goblin in a variety of cool clothes and accessories
• hobotown are hobos hostile to Goblin
• baby goblinz showing Hollywood classic IP characters in the image of goblin baby
• Dwarftown, a creature of the Western fantasy world like goblin
• zombiestown are zombies fighting goblin

These derivative projects seemingly came from goblintown at a glance from the painting style, so even if they occupy the ranking list in a short time, their subsequent development is still weak.

Take goblin grlz, which looks “the most like goblintown”, as an example. On June 2, its market value reached the peak of $3.57 million, and then its value fell all the way. As of June 14, it had reached $1.74 million, and there was no follow-up enthusiasm and a lack of momentum to rise again due to lack of marketing.

Source: https://nftgo.io/collection/goblin-grlz/overview

Most of these derivative projects that lack core competitiveness bloom collectively like fireworks and then lose value.

But ill poop it is different. At first, ill poop it was similar to goblintown in form (such as wild culture, rough lines, and official website with wtf suffix). However, with the rapid advancement and evolution of the project, people found that ill poop it was not a derivative project of goblintown, but a long-planned innovation from shit to blue-chip NFT.

Since the blue-chip NFTs was put into the shit and created a Twitter effect to be teased within 24 hours, groundless ridicule of ill poop it was confirmed a few days later.

Linked Economic Model and Super High Executive Force

On May 31, ill poop it started free mint, entering a three-day trading peak. (from May 31 to June 3, the decline began on the 3rd)

When the FOMO began to cool, on June 5, the second-generation shit ecological project ShitBeast started mint, and the ecological token $SHIT was launched. Within a week, the second-generation variant and token were launched, and people’s enthusiasm was ignited again. The transaction volume and price of the first generation ill poop it rose again and reach their peak on June 5.

The official once again hinted that there was still room for rising in ShitBeast. The price of ShitBeast rose from a mint price of 0.06 ETH on June 5 to 0.59 ETH on June 8.

When the market thought that shit ecology would launch any projects to provide the driving force in five days, they only took three days to airdrop ShitPlunger to Genesis ShitBeast this time, and also opened some ShitPlunger to the market for trading.

By the launch of NoShitZone on June 14, the shit projects collections were closely linked with each other, and each time debut accurately drove the value of the previous project up.

As the source of everything, OG Poop still hasn’t lost its value.

This is because 2 OG Poop can be combined into one Genesis ShitBeast and 10 billion $SHIT airdrops. Although ShitBeast can also be publicly obtained in the market at the price of 0.06 ETH, the weight of ordinary ShitBeast is lower than that of Genesis ShitBeast.

The subsequent logic is consistent.

Only with OG Poop can we get the airdrop of ShitPlungers, and the holder of OG Poop can also obtain Pixel POOP by burning shitplungers. Official sources also hinted that pixel poop would play an important role in the future ecology.

The advanced NoShitZone is only airdropped to the holders of Genesis ShitBeast, and all ShitBeast can consume NoShitZone to synthesize the refined painting style NFT “ShitMan” of the third stage.

In the economic model designed by shitlab, OG Poop is a solid value base and an adhesive for OG users to achieve community consensus. $SHIT is the key for new users to participate in the project; The continuously evolving ill poop it, ShitBeast, and ShitMan are the fresh blood continuously provided for the project.

This is very similar to the way BAYC has traveled in a year, but it is too fast. Therefore, shitlab has broken people’s doubts about the lack of a roadmap. And in the process of exceeding expectations, again and again, the consensus and value have been consolidated.

Future Development

On June 11, ill poop it changed its rough painting style and published a mysterious and exquisite picture on its official Twitter. You can vaguely see the shadow of dragons and heroes in that picture.

Since then, more finely painted characters have begun to appear on its Twitter home page.

It is predicted that NoShitZone is a detergent to ‘clean’ ShitBeast. The community is beginning to look forward to the launch of a new NFTs that is refined and no longer have a shit element. The market also seems to be preparing for a new blue-chip NFT developed from shit.

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