In the fast-paced, ever-evolving world of Non-Fungible Tokens (NFTs), one name that has carved its niche is Mfers. This intriguing collection, renowned for its simplicity yet captivating charm, has struck a chord with a multitude of digital art enthusiasts worldwide. As with any crypto venture, Mfers’ journey has been marked by exciting peaks and challenging troughs, underpinned by the passion and creativity of its founder, Sartoshi, and the vibrant community that rallied behind the project.

In this comprehensive guide, we delve into the captivating world of Mfers NFTs, exploring its origin, understanding what sets it apart, and contemplating its value proposition. We will journey through the unexpected turns in Sartoshi’s fascinating path and look towards the potential future of this uniquely resonating project. For anyone seeking to understand the intrigue and allure of the collection in the NFT realm, this guide provides a thorough and engaging insight.

Background

In the early spring of 2021, the progenitor of Mfers embarked on a journey into the world of digital art via SuperRare, a hub renowned for trading unique digital masterpieces. This adventure led to a fortuitous encounter with CryptoPunks, a celebrated NFT initiative established by Larva Labs.

Characterized by 10,000 distinct 24×24 pixel art characters crafted by an algorithm, CryptoPunks has left a notable mark in the NFT realm. Upon witnessing the potentials of NFTs, the team acquired their inaugural CryptoPunk in April 2021, which sparked the innovative concept for the Mfers NFT endeavor.

Navigating the NFT Landscape and Carving Out a Unique Persona

Sartoshi, the creative engine behind Mfers, began to establish his artistry on Foundation, a platform designed for digital art. He leveraged humorous and resonate themes to foster connections within the community. His distinctive flair for digital art and engaging social media presence attracted a crowd, cultivating a substantial following.

His signature creation, depicting a child with a cigarette in hand, quickly gained popularity, encapsulating the spirit of autonomy that the web3 space offers.

The Conception of the Mfers Collection

The inspiration for the Mfers Collection was birthed from the concept of capturing the inherent defiance in everyone through a stick figure character. The assortment, containing 10,000 NFTs, takes cues from CryptoPunks, mirroring its punk-like attributes and rarity patterns in homage to the trailblazing initiative.

What are Mfers?

Officially termed as “motherfuckers“, the Mfers NFT assortment comprises 10,021 distinct images of diminutive humanoid figures, with a majority being the aforementioned smoking characters. In stark contrast to other meticulously crafted NFT collections, the artistic style of Mfers NFTs is minimalist, realized through the use of a handful of straightforward lines.

Within this comprehensive collection, there are 21 standout rarities that diverge significantly from the typical Mfers NFTs. These exceptional NFT designs often encapsulate a tribute to the Web3 ethos and are sporadically generated during the minting procedure.

Key attributes of each Mfers NFT primarily revolve around headphones, head adornments such as hairstyles, facial hair, and apparel. While the wristwatch is a crucial feature, it often goes unnoticed. Intriguingly, the time on each watch reads 4:20, consequently setting the minting time for Mfers NFTs at 4:20 PM. Furthermore, the minting cost of each NFT is set at 0.069 ETH.

Since its inception, the Mfers NFT market value has undergone a roller-coaster ride. Initially overlooked at its launch, the popularity of the collection exploded overnight, only to subsequently experience a decline. Eventually, external factors such as macroeconomic trends, the volatile crypto market, and the exit of Sartoshi led to a settling of the floor price around the 1 ETH mark.

What Gives Mfers Value?

To the uninitiated, the idea of investing $40,000 or more in a stick-figure drawing, especially given the absence of any discernible utility or future roadmap with the Mfers’ NFT collection, may appear perplexing.

The secret lies within the community. Mfers has established a firm foothold in the Twitter NFT space. There are speculations that it could evolve into the next NFT blue chip, largely because its creator, Sartoshi, fostered an organic community growth, eschewing the conventional whitelist approach. The shared interest among its followers fueled this development.

A significant factor contributing to the project’s success lies in its relatability. The posture of the stick-figure, seemingly engaged in screen-staring akin to the typical computer user, resonates with the modern individual. The minimalistic accessories, varied hairstyles, and expressive faces serve as a perfect canvas for identification, further endearing the collection to its audience.

Satorshi Follows Satoshi’s Path

Regrettably, in June 2022, Sartoshi chose to tread a path similar to the real Satoshi. Indeed, the influential NFT figure took the bold step of deleting his profile and transferring ownership of the contract away from himself. However, his departure wasn’t without flair. Sartoshi bid adieu with a cryptic farewell message and released a final NFT as a parting gesture.

This move led to a mixed reaction within the crypto Twitter community. Some perceived it as a “rugpull” given that Sartoshi retained 20% of the profits. Conversely, others argue that his departure was not a surprise as he had previously informed his fans of his impending exit. Therefore, they view this final drop as a historical token rather than an abrupt exit strategy.

Where Does Mfers Go From Here? 

The departure of the project’s founder, Sartoshi, correlates with the recent dip in Mfers NFT prices.

On June 9, Sartoshi took to Twitter to declare the commencement of a new era for Mfers and his impending exit. He announced the transfer of Mfers’ smart contracts to the community via unofficial multi-signature wallet addresses (0x21130e908bba2d41b63fbca7caa131285b8724f8). Consequently, the community would receive 50% of Mfers’ future royalty revenue, while Sartoshi would retain the other half as personal income.

Simultaneously, Sartoshi unveiled his final art piece, an NFT dubbed “End of Sartoshi”. The minting of this NFT had a window of 12 hours, with no cap on the total quantity. Mfers enthusiasts minted a staggering 169.96 million “End of Satoshi” NFTs during this period.

Despite generating 1172.7 ETH ($1.3 million) in revenue for Sartoshi, the “End of Sartoshi” has since declined below its issuing price, with a floor price of 0.024 ETH.

In his farewell, Sartoshi asserted, “this is the end of Sartoshi, Mfers just getting started, GN Mfers.” This move was seen by many as a cash grab before disappearing, subsequently causing a short-term hit to Mfers NFT prices.

However, a surge in high buying activity has managed to salvage the Mfers NFT price.

Usually, the departure of a founder is a significant setback for NFT project development, often leaving the community and investors in disarray. However, the Mfers’ situation deviates from the norm.

Since the project’s inception, Sartoshi did not have a rigid development plan, a core team, or even an official Discord community. In his words, the Mfers world he envisaged would exemplify the concept that “we are all Mfers.” He envisioned no king, no defined roadmap, with the freedom for Mfers to create whatever they can imagine.

In Sartoshi’s ideal world, every Mfer enjoys liberty, employing their Mfer NFT as they see fit, be it crafting a 3D version, creating Mfer fashion merchandise, or even using Mfers as a book cover in China about Web3.0. This has demonstrated the significant influence Mfers has wielded on the entire Web3 world.

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• Source: https://www.asiacryptotoday.com/mfers-nft/