The “Rekt guy” is a notable NFT collection that has captured the crypto community’s attention. This iconic artwork symbolizes the individuals who have experienced losses in the volatile crypto market.
The Rekt guy NFT has garnered a passionate following, with people resonating with the emotions and challenges faced in the ever-changing landscape of cryptocurrencies. It has become a symbol of solidarity and community within the crypto sphere. In this article, we’ll make a review of this NFT collection.
The Symbol of (Getting) Rekt
The collection symbolizes traders and players within crypto and NFTs. A recent market fall has rekt a crypto or NFT trader who has lost everything. Rekt is what happens when cryptocurrency traders fall prey to notorious volatility caused due to FOMO. This figurative statement sums up a rekt guy.
OSF and Mando established the Rekt Guy project as a PFP art initiative with a spotlight on the local community. The “no road map” strategy of the project is gaining popularity. The project’s slogan, “Down bad but never dead,” resonances strongly with the web3 community, who were kept together by a shared experience of being “rekt” despite 2022 being a challenging year for the market.
What do the following have in common?
A gal named Anabelle.
A Spartan who draws comics.
Find out on today's Daily Dose with @rektguyNFT.
— nifteex (@nifteex) May 17, 2023
This project features an NFT collection of 8,824 images of a REKT Guy. The REKT Guy is identified as “art and pop and stuff” by its website. The collection name was inspired by the play “Wrecked,” which tells the story of someone who is wrecked by drinking.
Similarly, the artwork representing a drinking-hooded skeleton pictures an NFT or crypto trader devastated by a recent price crash. This situation can be related by several traders, and the very reason for this relativity has spawned a vibrant and passionate community of collectors and enthusiasts to the emotions depicted in the artwork.
Growth of REKT Guy NFT Collection
Launched on May 21st, 2022, the REKT Guy NFT started taking the world by storm in a short time. Created by the acclaimed NFT artist OSF, the project at its launching stage received much recognition. When the NFT whale snoop bought one of a Rektguy, the collection went out of reach for most.
The complimentary mint for Rekt Guy began on May 21st and got concluded on May 27th with 11k of limited REKT Guy NFTs.
With a floor price of ETH 0.9 ($1.4k), the project’s total trading volume reached ETH 30k in March 2023. This includes 5% creator earnings, and the collection gained a 41% unique ownership ratio over time.
The Artistic Uniqueness
The value of Art has a significant influence on the creator. Due to the popularity of the Degenz NFT collection and the 1:1 NFT artwork, Ovie Faruq is a well-known figure in the NFT community. This undoubtedly has considerably contributed to the success of REKT Guy.
Though all the REKT Guys in the collection featured a skeleton hoodie man drinking a bottle of alcohol, each of them is unique in their traits, and the value differs with the rarity of these traits. Due to its several 1:1 features, including the Tied Blue Tassels, Liquid Cosumi Juice, and Aliens Logo, Rektguy #3566 is the rarest NFT in the collection.
Even though this Rektguy is the rarest in the collection, we are still determining how much traders are willing to pay it as it has never been sold.
Rekt Guy #3566
Due to the presence of 420 Liquid (0.01%), Purple Hoody (0.02%), and Black Outline (0.08%), Rektguy #2883 is one of the collection’s rarest NFTs. The collection’s most famous mascot is this Rektguy, which sold for WETH 42.069 ($64k) in January 2023.
Rekt Guy #2883
The OSF tweet, “Life is wild ” was quite special for the REKT Guy as the tweet was made in response to Snoop Dogg, when a prominent rapper and NFT supporter had bought a Rektguy in May 2022. This was a wild gain for the NFT, and learning about this, the interest of the market towards the REKT Guy also took a considerable leap.
6 months ago I was bored at my day job an doodled rektguy.
Yesterday @SnoopDogg bought the NFT.
Life is wild. https://t.co/3KjPCZtnKJ pic.twitter.com/4lPe2tjHUT
— OSF (@osf_rekt) May 29, 2022
Entering Twitter in June 2022, Rektguy has gained a huge following of 30.2K by 2023.
Rekt Guy and the Market
At the time of writing the floor price for the Rekt Guy collection is sitting at 0.64 ETH. The highest-ranked sale to date was rektguy #6113, with a rarity rank was 7. The trade price for this was 20 ETH on May 29.
As mentioned, OSF, the artist behind the Rektguy NFT collection, has a sizable fan base. He presently has around 118,000 followers on Twitter alone, besides the substantial community he established around his Degenz NFT collection, which included an NFT-gated Discord server.
This has positively helped Rektguy to catch attention soon after the launch. Another plus for this NFT was that both Cozomo de’ Medici and Snoop Dogg twitter accounts had (unofficially) endorsed the project.
Both accounts are considered as figures of influence within NFT culture. Their backing made Rektguy’s popularity swift and valuable. Following this, many renowned figures got added to the list of Retguy owners.
Rektguy adopting the CC0 licensing agreement had made it with no restrictions on commercial rights. Which facilitates the holders to distribute, modify and perform the work, even for commercial purposes, without asking permission. Which is cited as a significant add-on for the NFT holders.
One day, I will share the story of what transpired in the mountains of Altai.
For now, it's time to get REKT ⚔️ pic.twitter.com/O64u6FNRLt
— Cozomo de’ Medici 🛡️ (@CozomoMedici) May 28, 2022
Rektguy’s Partnership plans
With over $390M in total loan volume, nftfi, the most reliable NFT lending protocol, they have had announced its formal cooperation with Rektguy. After the highly successful launch of the Rektguy loan market and the steadily rising usage of NFTfi among Rektguy holders, both teams decided to collaborate to advance their relationship.
The Expected Future of Rekt Guy
The project released its new Rekt products in January and allowed users to participate in various contests. The daily rekt meme contest is one such. Eventually, the Rekt Guy NFT became a cultural icon and inspired many memes and digital artwork that further propagated its significance.
With the NFT’s influence extending beyond the crypto space, permeating popular culture and reaching a wider audience marked the resounding success of these activities. There are additional items that are anticipated to be created in the future, and competitions will occasionally appear.
Announcing the daily REKT MEME competition!
Every day we're giving away $100 for our favourite REKTGUY meme.
Here's how to enter 👇 pic.twitter.com/LLgBobVxSd
— rektguy (@rektguyNFT) March 29, 2023
Besides the celebrity support and the hyperactive community, Rektguy is still in its early stage, and lots of information about the project such as future utility or roadmap remains concealed. The collection has established itself as a unique and interesting project. It perfectly encapsulates the embodiment of NFT culture in its message, art style and influential holders.
Many can relate to the unique and humorous artwork. The collection has a strong community and continues to stay relevant. This could be a collection that will stick around and continue gaining strength.
⬆️ For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.
⬆️ Check out our most up-to-date research, NFT and Metaverse buy, and how to protect your portfolio in this market by checking out our Altcoin Buzz Access group, which for a limited time, is FREE. Try it today.