Gutter Cat Gang: The Next Blue Chip NFT
A couple weeks ago, I was on The Mint Condition podcast and said something to the effect of, “everyone is looking for the next Bored Ape Yacht Club, but nothing has been the next Bored Ape Yacht Club. Maybe Gutter Cat Gang…it seems like they could get there.” That statement, of course, was meant to imply it has the ability to take off and join the ranks of the elite NFT projects. At the time I said that, Gutter Cat Gang had a one ETH floor. The current floor as of writing this sits over 2.5 ETH.
It’s no secret I’ve been a supporter of the Gutter Cats since, quite literally, the beginning. I’ve got the receipts to prove it. But my personal bias aside, I think Gutter Cats have taken a step into Blue Chip NFT territory, where very few projects sit. Here’s why.
The Community Stands Out
The Gutter Cat Gang has a very distinct personality. Everybody knows the vibe you’re sending when you tweet or say, “gang gang.” This makes Gutter Cat Gang shine instead of blending in with the latest “project of the day.” In many ways the tone is set by the creators and the project ethos, but I believe it was enhanced by the drop FUD. Following some issues with the drop, the community responded defiantly and has “stayed gutter” ever since. I would argue those drop issues actually helped the project because it formed a strong sense of pride within community.
The Gutter Cat vibe is perfectly personified by the weekly Conversations From the Gutter live show with Dr. Leonardo DiCatrio and King BlackBored. They’re smart, but raw, and not afraid to call things how they see them. You can drop into their show, and in a matter of seconds, go from intelligently analyzing the state of the NFT market to chop busting and roasting. They interview NFT tastemakers and project creators, but also have a section where people just come up and spit venom. The Gutter Cat Gang shows that being smart isn’t a stereotype that exists within a perfect box, it can be real, uncut, and fun.
The Project Founders Keep Hitting Home Runs
The creators of the Gutter Cats stay busy. From partnerships with Nifty Slabs, to a DAO, to a comic which will help boost the power of the Gutter Cat intellectual property, they’re consistently bringing new things that level-up the value of holding a Cat. They’re even getting Cats together in Las Vegas (perfectly on-brand) for Gutter Con in September.
However, to me, their biggest triumph is the Gutter Rats. Much like the Bored Ape Kennel Club, the Rats were given to Gutter Cat Gang holders as an extension that makes sense in the Gutter Cat Gang Universe. I heard someone say recently on a Twitter Spaces that the Gutter Rats are better than 99% of all avatar projects, and I agree.
The ascetic is great and plays on pop culture – but the type of pop culture that fits the Gutter Vibe. From a Biggie Crown to face tats, the Gutter Rats belong in the Gutter world. And even better? The Gutter Cat Gang doesn’t look down upon Rat holders, instead they accept them into the community with open arms. This gives a lower cost entry point for a major project with a booming community.
This all sounds great, but it got even better when the founders brought Rat utility. The recent announcements sent the floor for Rats SOARING from 0.4 to 0.7 ETH in a straight line. In case you’re not aware, Gutter Cat Gang is only a supply of 3,000, and thus, there are slightly less Gutter Rats. On August 12, the founders announced that if you are holding a Cat and Rat (gotta hold both), you will get:
- The ability to mint a third avatar project (for free, you just pay gas!) in the Gutter Cat Universe
- The ability to mint a Rat Voxel for the Metaverse
- Access to buy the first round of Gutter Cat Gang merchandise
This utility is incredible. One must imagine the limited supply of the new avatar (remember, minters must hold both a Cat [3,000 total] and Rat [~3,000 total]) will drive demand. And, with the utility they’ve introduced with the Gutter Rats, people who have a Cat and Rat will likely want to hold one of whatever this newest member is in the Gutter Cat Universe.
It’s Getting Shine with Celebrities
This is where we’ll really start to see the project tip. We’re starting to see big names (and blue checkmarks) come into Gutter Cats, with the most notable new Cat being former NFL all-pro wide receiver Dez Bryant. He jumped on to Conversations from the Gutter last Tuesday to announce a series of Cat and Rat auctions which came with courtside tickets to the Brooklyn Nets. More than 300 people attended the live show and listened to Dez as he showed his pride for the Gutter Cat Gang.
Celebrities and infuencers buying was a big tipping point for Bored Ape Yacht club. When people with the money to purchase multiple high-priced NFTs see the value in the investment, it brings in a brand new crowd. This is what’s happening now with Gutter Cat Gang. Most people reading (me included) this are excited about short term utility, but celebrities look for pop culture relevance in the short term, and asset appreciation in the long term. And the more celebrities that get involved, the more it becomes a status symbol, the higher sales will go.
After considering all the above, I got myself a Cat and Rat combo. I’m considering getting a second. With all the things I mentioned, it feels like this project has been around for years. It’s been three months. If the founders are giving this level of value now, image what they’ll do when they have time to really cook. I think Gutter Cat Gang is just heating up, and we have a long runway ahead of us. I started this article by saying Gutter Cat Gang could be “the next Bored Ape Yacht Club.” That statement was wrong. It’s the first Gutter Cat Gang.
Disclaimer: This article is not financial advice. The NFT and Cryptocurrency markets are very volatile. Please don’t invest what you can’t afford to lose. Always do your own research before investing.