Are NFTs Going Off the Rails? This Pigeon Poop-Based NFT Says “Yes”

Are NFT artists going nuts? You be the judge.

Man showing off his new baseball hat with pigeon poop on it.
Created by Kornelija Poderskytė from DailyCoin
  • Artists presented a physical pigeon-inspired NFT in Paris Fashion Week.
  • Black rocks go live on sale on OpenSea, inspired by BlackRock’s ETF.
  • OpenSea’s monthly NFT trading volume has plunged by 23%.

Non-fungible tokens (NFTs) are based on the principles of uniqueness and rareness, but the saturated NFT market could also inspire digital artists to go over the top. This was proven again in last week’s Paris Fashion Week, where urban wear pioneer Jeff Staple and the renowned digital art collector Gmoney presented their “pigeon crap baseball hat,” which can be redeemed for a physical baseball hat via NFT.

This pigeon excrement-based baseball hat is a part of the limited edition 9dcc x Stapleverse. Gmoney, a strong proponent of the NFT technology, is currently dishing out digital autographs. These work similarly to the Proof of Attendance Protocol, often used in real-life events.

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“It’s insane. We tap your hat, sign our phone, and you get an autograph NFT that you attach to your hat,” bragged Gmoney, the OG digital art collector, who is known for collecting blue-chip NFT art and setting up the crypto luxury art house 9dcc.

OpenSea Offers Black Rocks NFT Throwables?

Another brand new exhibition in the NFT nuthouse went live just a few days after BlackRock declared they would be applying for the inaugural Bitcoin ETF. According to internet magicians, this black rock as a non-fungible token helps cope with the consequences of ill-fated financial investments.

However, these allegedly soothing BlackRock NFTs are not associated with the multi-national investment company. Despite that, their recently filed spot ETF for Bitcoin sparked a bull run and generated a colossal amount of social mentions for crypto. 

Besides, these fan-made Black Rocks go for a floor price of 0.23 Ethereum (ETH). According to OpenSea’s stats, the black rock-themed NFT collection peaked on July 22nd, 2023, when 68 sales were made. Currently, this unusual NFT project garners up to 30 sales a day.

On the Flipside

  • Despite the module, the digital autographs have to be signed in person.
  • NFT enthusiasts on Crypto Twitter are baffled by the high price.

Why This Matters

Non-fungible tokens have been on a downward slope for the bigger part of 2023.

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Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.