Can you think of a completely decentralized successful NFT project without an official website, social media, roadmap, but at the same time being popular and in demand? In addition, its creator does not promise anything, and to be more precise, he just left the project.
It’s all about mfers, an NFT collection that looks like it was drawn by a 10-year-old boy. It’s safe to say that this is the main project that promotes memes in the NFT space. And a large community is actively supporting this format, showing more than $82 million in secondary sales to date.
Mfers Official Links
Official site https://mfers.art
Created by the mfers community:
- Discord @unofficialmfers – over 13k members,
- Twitter @unofficialmfers – over 9k readers,
- TikTok @mfersjournal – over 190 followers.
What are mfers?
Mfers is a collection of 10,021 NFTs of ERC-721 standart hosted on the Ethereum network.
The tokens of the mfers collection do not have perfectly drawn lines or attractive appearance of the characters. And in general, it seems that they were drawn by a boy in a junior high school drawing class. However, the meaning in those pictures is not childish. It reflects the modern society and ironizes it. Mfers are depicted doing something, most often sitting at a computer. These are depictions of digital asset marketers who spend a lot of time at the monitor. This meme culture is the main idea of the project.
Mfers are completely decentralized. They have neither roadmap, nor official social media accounts. They only have a site that minted NFTs. The day before the minting launch, Sartoshi posted a tweet with a link to the minting website. The collection was minted in just 3 minutes after the mint was launched, thus causing the “gas wars”. The collection was launched with no advertising campaigns, royalties, paid promotions or influencers. Everything happened simply and organically in just 24 hours.
And it is worth saying that the creator of the project known as Sartoshi added uniqueness to the project by granting full rights to the use of NFTs by the owners. In other words, this is a CC0 license, under which the creator waives copyright and gives permission for the unlimited use of NFTs. And that means you can do whatever you want with those tokens.
Mfers in numbers
- A collection of 10,021 tokens was launched on November 30, 2021,
- The minting ended 3 minutes after its start and was carried out at a price of 0.069 ETH.
- The project is ranked 32nd among the best collections by sales volume of all time on the largest NFT marketplace OpenSea.
- The total volume of secondary sales exceeded 52k ETH (more than $82 million at the current exchange rate),
- The floor price is impressive and amounts to 1.49 ETH (about $2.4k).
- Average sales are in the range from 1.46 ETH to 2 ETH,
- The most expensive #904 was sold on March 4, 2022 for 80 ETH ($226k at the time of sale),
- A total of 5,489 unique holders (55%). This shows the low chances of whales interconnection within the NFT project. Thus, the risk of undesirable inner project management is minimal.
- Only about 4% of the collection (391 pieces out of 5,555) are for sale, among them the offers range from 1.49 ETH to 9 ETH. This shows that almost all holders see the project as a great investment prospect and are not in a hurry to part with their assets at a lower price.
Data (including exchange rates) are given at the time of publication of the article (February 15, 2023)
Mfers types and attributes
Are you wondering why there is a non-standard number of tokens in the collection, namely, 10,021 pieces? The answer is quite interesting: among the entire set of memes, there are 21 mfers 1/1, each of which is dedicated to a person or a well-known project in the NFT space. For example, you can see a token dedicated to the artist Beeple, projects BAYC, Cool Cats, Loot, Chromie Squiggle.
The remaining 10,000 NFTs are divided into 5 types:
- Plain (5,916 pieces),
- Charcoal (3,958 species),
- Zombie (89 types),
- Ape (28 species),
- Alien (9 types).
All 10,000 pieces are unique and contain various traits that determine the rarity of the token.
Among them you can see:
- background (8 types),
- eyes (9 types),
- headphones (8 types),
- shirt (12 types),
- hair (13 types),
- smoke (3 types).
Who created mfers?
The mfers NFT collection was created by Sartoshi, a well-known but rather anonymous participant of the digital asset market. He is only present on Twitter and nowhere else. In the crypto space, he is known as an anonymous collector and meme artist.
Creation and development of the mfers
The backstory of mfers started in March 2021. Back then, the enthusiastic future creator came up with an anonymous name for himself – Sartoshi. He was fascinated by CryptoPunks, several of which he acquired for his collection. After that, he drew cartoons, posted jokes and memes on his Twitter, which related both to the everyday life of people and to the NFT space. Sartoshi said that his favorite meme was “Are ya winning, son?”.
At the time, there was talk on Twitter about releasing the NFTs into the public domain under the CC0 license format. After a little preparation, on November 30, 2021, the mfers collection was released. It is quite difficult to call it preparation in terms of a modern approach, for there were no social media, no project roadmap, no marketing or prominent participants. There was just a tweet with a link to a minting website. Everything is quite simple. Thus, the most successful story of memes in the NFT space began.
However, on June 9, 2022, Sartoshi announced his departure from the NFT space, which shocked the community. The smart contract was moved to the community multi-sig wallet that contained 7 mfers OG:
Multi-signature transactions require 4 confirmations out of 7 possible.
The royalties have also been changed so that this unofficial multisig wallet will get the largest share in the future:
- 50% for the community wallet,
- 25% for Sartoshi,
- 15% for westcoastnft, the main development team of the project,
- 10% for other developers.
Finally, Sartoshi released a personal collection “end of sartoshi” in his trademark meme style. To date, it consists of 17k tokens, and the volume of secondary sales has exceeded 1k ETH.
It can be assumed that the idea of mfers was born thanks to Sartoshi’s favorite meme “Are ya winning, son?”. At first, this inspired him to create similar memes, for example, “I’m not liquid for dad”.
Mfers is more of a meme project, and refers to the meme culture in the NFT space. Sartoshi did not move towards any specific goal by creating his collection. It is worth noting that the community appreciated his idea and created a cult of memes around the project without any marketing promotion. Fans believe that the meme metaculture is part of the NFT space.
Mfers have become so popular that they can even be seen in Times Square, New York:
#mfers LFG!! pic.twitter.com/gP3AVZ5Zr0
— agold (@imaginationIRL) February 18, 2022
However, the collection and its creator were criticized. Some felt that the success of the collection was unfair. That is, collections that have utility, or historical or artistic value, are not valued as highly as a meme project.
Why is the mfers collection popular?
There are several reasons why mfers are so popular:
- Metaculture of memes. In the crypto industry, there is a certain metaculture of memes, that is, comic projects that do not particularly have a purpose or a meaning. The mfers collection belongs to this metaculture of memes.
- Decentralization. The NFT project was created chaotically and, at the same time, organically without a strong management team, any marketing or promotion. Thus, a strong and loyal community of project fans has been formed, who develop the project themselves and promote it to the general public.
- CC0 license. The owner can do anything with NFTs like releasing clothes with them, drawing them anywhere and creating projects with mfers images. That is, if you own it, you can run any business based on mfers images.
- Community, which is still the main reason for popularity. This NFT project has nothing: no roadmap, no utility, no strategy. It was the community that made the project what it is now. And it continues to be maintained by the mfers team.
Thanks to the community, an ecosystem is created around mfers with many independent projects created by holders (for example, Animated mfers, mferverse: OG mfers). Among them there is one collection that is the official partner of the project.
Creyzies NFT Collection
Creyzies is an NFT collection of 9,966 tokens created by artist Pablo Esteban Sánchez Rijlaarsdam for distribution to mfers NFT holders. The collection is an official companion to mfers. To date, the volume of secondary sales has exceeded 2k ETH, and the floor price is 0.04 ETH.
The NFT project does not have a roadmap. This is part of the idea of the project, and not a lapse of the creator.
You can state a roadmap that says where you will go, but you can also plant seeds and see where they grow. Sartoshi’s opinion on the subject
Sartoshi was repeatedly offered to create an official Discord or Twitter. But he kept responding by saying that he, like mfers, doesn’t need official social media. If necessary, mfers community will create one.
How much do mfers cost?
At the time of launch in November 2021, minting was carried out at a price of 0.069 ETH. Then it ended in 3 minutes after the start of the mint.
There was an immediate market hype, and secondary sales went up.
And how are things now? To visualize the price dynamics, we made a slice of the average price for 1 NFT:
- in February 2022 – 4 ETH,
- in May 2022 – 2 ETH,
- in September 2022 – 1 ETH,
- in December 2022 – 3 ETH.
Now (February 15, 2023) the minimum price is quite impressive and amounts to 1.49 ETH. On average, the latest sales are in the range of 1.46-2 ETH. And the total volume of secondary sales amounted to more than 52k ETH (about $82 million).
The most expensive mfers sales
The most expensive sales are led by the following NFTs from the mfers NFT collection:
- #904 was sold March 4, 2022 for 80 ETH ($226k at the time of sale),
- #905 was sold on February 25, 2022 for 50 ETH ($129k at the time of sale),
- #8662 was sold on February 21, 2022 for 41 ETH ($107k at the time of sale),
- #7555 was sold on February 7, 2022 for 36.9 ETH ($112k at the time of sale).
Where to buy mfers?
Currently, mfres can only be purchased on the secondary market on such marketplaces as OpenSea, LooksRare, X2Y2.
How to buy mfers?
- Remember that initially you need to connect your crypto wallet with self-storage to the marketplace of your choice.
- Next, find the official collection using the search bar on the marketplace.
- Analyze and choose the NFT you want to buy; click on it and then on the “Buy” button.
- Or you can bet on the token you like. Make sure you leave enough ETH for gas or transaction fees. If the seller approves your bid, the deal goes through.
Should you invest in mfers?
There are several reasons to have a positive view of this collection in terms of investment attractiveness:
- The floor price is over 1 ETH almost two years after minting. This confirms that the collection is liquid and in demand.
- The popularity of the meme metaculture in the NFT space organically promotes the project, maintaining public attention.
- An active decentralized community in an unofficial Discord channel, where contests are held among the owners of NFTs.
- CC0 license. This means you can monetize your investment asset in any kind of online and offline business.
Before investing in NFTs, make sure you are prepared for the speculative nature of the NFT market. Remember that the floor price is set by the community. The creator of the collection has no influence on the situation and left the project.
Opinion of NFTMetria
Mfers NFTs relate to the meme metaculture that is very popular among the NFT community members. The project gained high popularity without an advertising campaign or official social media. This project lives only thanks to a strong community of enthusiasts and sincere fans. The project cannot be dumped or pumped with newsbreaks, since no person is the official chosen face of the collection, and the creator has left the NFT space. This shows that even with the speculative nature of market, independent projects emerge that are highly valued by the community.