What are CrypToadz? The Toads NFT Project
Rising from the swamps last week came the CryptoToadz, the newest NFT project from artist Gremplin. CrypToadz are 6,969 Toadz that had the entire NFT community croaking when they arrived from Uniswamp. The project has already surpassed 12,000 ETH traded ($38 million) in just 10 days and ranked as a top 10 project on OpenSea in the first week after its release.
The CrypToadz Drop
The project was kept under wraps for the past few weeks without many people knowing about it. That was until a tweet from Noah from Christies Auction House put everyone on alert.
On the evening of September 8, the Toadz drop went live. They were priced at .069 ETH with a total of 6,969 available — nice.
For the first couple thousand mints, gas stayed low as word had not gotten out yet about the drop. But once it did and reputable NFT collectors bought in, gas climbed and the drop quickly sold out. I was able to snag two Toadz about two-thirds of the way into the mint.
The quick sell out and rise in gas had many wondering what had just happened. As I did my usual check in on the 25 Discords I’m in, I saw many complaining about gas and they had no idea what was the cause.
They didn’t know then, because Toadz was a stealth drop, but they soon would.
The CrypToadz Secondary Market
The CrypToadz instantly revealed post sell-out as the hype for these pixelated amphibians grew. Prospective buyers tried to figure out which traits were rare as the floor started to rise. Popular traits such as 3D glasses, robo Toadz and hoodies were just some of the awesome ways the Toadz differed from each other.
Price action was wild as sales volume poured in pushing the floor higher and higher, peaking at around 0.9 ETH less than two hours after drop. Support from the entire NFT community and well-respected collective added to the positive vibes and price movement.
Just as fast as it had hit 0.9, undercutting came in and the price dropped to the 0.3-0.4 range making for a wild 15 minutes. The price rebounded and settled around 0.7 in the evening.
Since then, the community has continued to back the CrypToadz, with the floor peaking around 2 ETH and at the writing of this article is sitting at 1.4 ETH, with sales at 125 ETH and 69 ETH.
Another great sign for the project was the amount of higher sales on some unique Toadz. Bigger buyers quickly looked to the hoodie Toadz and 1-of-1s to scope as their rares. The second highest sale so far has been this 1-of-1 animated skull toad, sold by my buddy Dimes for 69.069. The art on the 1-of-1s really set them apart from the rest of the collection and are extremely well done.
Boasting an impressive team and great support from collectors, I am excited to see what’s next for the Toadz. You can check out the official collection on OpenSea here and join the Discord to stay up to date with the latest from the Toadz.
For disclosure purposes: the author of this article holds a CrypToadz NFT at the time of publishing. Follow Cole on Twitter: @StrobeCM.