You may remember when in early May we learned you could use multiple slurp juices on a single ape NFT. Move over, because a new alchemical formula is taking over: “2 burned poops = 1 shit beast.”
Two new linked NFT collections, created by an OpenSea user named PieceOfShitDeployer, have dropped and are exclusively centered on NFTs of shit and things used to clean it. So far, people have spent nearly $9 million on shit NFTs.
The first collection, "ill poop it nft" is a relatively simple collection: 10,000 NFTs featuring a fetid pile of shit surrounded by grimy drawings of vermin, flying craft, and decaying signs. "I mean you and I both know some jpgs belongs here," reads a sign in one poop NFT. "Buy this nft or I will eat it," reads another poop NFT’s sign, this time the message adorned by an shit-smeared open mouth.
"Your NFT is just a piece of shit," the collection's OpenSea description reads. "10,000 pile of shit on your 'blue chip' NFT or whatever jpg you are holding you are ngmi.”
10,000 such NFTs exist, which were initially offered for free. OpenSea shows there are about 1,300 owners. The floor price sat at 0.488 ETH (about $860) early Tuesday morning before jumping to 1.26 ETH (about $2,241) with the highest NFT being listed for 743 ETH ($1.3 million), though it was last sold for .34 ETH (about $607). Created on May 31, this collection of poop NFTs has seen a total volume of 2,789 ETH (about $5 million) over the past week.
PieceOfShitDeployer, seemingly unsatisfied with his ill poop it NFTs, launched another collection of shit NFTs titled “Shit Beast” featuring beasts smeared in, you guessed it, shit. Some are particularly rancid: one features shit for hair, ears, and nostrils; another features larvae swimming in a pile of shit atop the beast’s head and more maggots still swimming in its nostrils; others feature shit with icing and sprinkles, shit perched precariously in multiple nostrils, and a bit of a grimace (understandably, as they’re covered in shit).
The floor price of Shit Beast sat at 0.258 ETH (about $458) and a total volume (1,879 ETH or $3.3 million since June 4) this morning before climbing to a floor price of 0.459 ETH (about $818) and volume of 2,104 ETH (about $3.7 million). It’s proven much more of a hit than PieceOfShitDeployer’s first project, with 3,700 owners on OpenSea. "Call me SHIT GOD," this project's description reads on OpenSea.
Both projects point to the same barebones website and Twitter account, which is the central hub for this spiraling universe of scatalogical crypto offerings.
You see, Shit Beast NFTs and ill poop it NFTs are part of an ecosystem as explained by creator PieceOfShitDeployer. Holding an ill poop it NFT gives you a special pixel poop NFT. You can also burn poop NFTs ("2 burned poops = 1 genesis shit beast") to receive Genesis Shit Beasts NFTs and ShitCoin ($SHIT), a crypto token that was airdropped to NFT holders. Genesis Shit Beasts are simply Shit Beasts from before the public mint, obtained because you were an early adopter of the Shit Beast ecosystem. There are also non-genesis Shit Beasts, which need to be minted if you wish to claim them. The total cap for Shit Beast NFTs is 10,000—3,900 for Genesis Shit Beasts, 6,100 for regular Shit Beasts.
Both Genesis and normal Shit Beast NFTs will be able to generate $SHIT through staking, according to PieceOfShitDestroyer, but Genesis NFTs will have more staking rewards. “Shitburners,” or people who burned poop NFTs for a Genesis Shit Beast NFT, will be airdropped a bathroom cleaner NFT that can upgrade your NFT into “Phase 3.” Shitburners will be able to upgrade for free, while non-Genesis Shit Beast holders will need to buy a bathroom cleaner NFT and $SHIT.
There are a few questions left unanswered by this whole NFT project. Should you have bought poop NFTs to burn them for Shit Beast NFTs and $SHIT? What will you be able to spend $SHIT on? What is the point of all this?
No one seems to have a clear answer. Some think it represents a “revolution” in the NFT space. "The market is shit and we are all shit,” one trader took to Twitter to declare. “Shit born in the shit market. Fucking shitbeast to the fucking moonland!!!! LFG !!!"
The airdrop of a ShitPlunger NFT today, though, suggests this is less a revolution and more a sillier, albeit creative, NFT project generating assets for people to snatch up, pump up the value of, but also generate a fear of missing out on as literal shit trades for higher speculative sums of a speculative cryptocurrency. The Shit Beast ecosystem is reminiscent of Goblintown, an NFT project that launched last week and encouraged investors roleplay as pee-obsessed goblins to take their mind off of the crypto bubble crash and maybe make some money if they could pump the price. Both are just as useful, in that they're both seemingly proud of being completely useless.
The success of these projects hammers home how it appears that no one learned anything from the most recent crypto crash, nor does anyone seem willing to. The most volatile projects are those who have no utility beyond buying into the ecosystem to speculate and eventually exit—projects like the Shit Beast ecosystem. It’s these projects that are becoming the most popular ones during a major downturn, likely because it is easier to offer people chips to gamble at your casino than to offer them anything that might be useful outside of its walls.