Gutter Labs Acquired By Community Member: “We Embrace a New Era”
Gutter Labs, the parent company behind the Ethereum-based PFP projects Gutter Cat Gang, Gutter Rats, Gutter Pigeons, and Gutter Dogs, is ushering in a fresh chapter. Initially launched in June 2021 with Gutter Cat Gang, the ecosystem is witnessing a revival thanks to a community member who has taken the reins. Twitter user mauloadream, who goes by Noah, bought the assets for an undisclosed price on Oct. 9.
“Gutter City has a rich history and a resilient spirit that I am proud to be a part of,” Noah tweeted. “Since the day I stumbled into the discord for the first time, I knew the Gutter was different. I’ve always felt comfortable in the chaos, and today, we embrace a new era.”
He made his decision public on Sept. 29, when he announced that he had made an offer to acquire the Gutter City. He also added that he would “inject $500K of [his] personal capital into the new LLC.”
Gutter Cat Gang’s mint price in June 2021 was 0.07 ETH. After the announcement, the floor price jumped from 71%, from 0.45 ETH to 0.73 ETH, according to analytics from Opensea at the time of publication. Its secondary projects also experienced a spike in sales, with the floor price of Gutter Dogs jumping 121%.
This revitalization trend isn’t uncommon in the world of PFP projects. For instance, Pudgy Penguins saw renewed vigor under the guidance of Luca Netz when it was bought in April 2022 for 750 ETH (about $2.5 million). 0n1 Force, too, experienced a resurgence with its new ownership in May 2023.
However, the true success and direction of these projects often hinge on the vision and strategy of the new owner. The future potential and impact of such projects can vary greatly, depending on the passion, creativity, and commitment of the leadership taking charge.
Charlesbroccoli.eth, a Gutter Cat holder who has been in the Gutter City ecosystem since 2021, tells nft now that he believes in the new leadership.
“Noah’s leadership of the Gutter Cat Gang is truly commendable. His dedication and innovative approach have revitalized the group, fostering a sense of community and purpose,” he said. “Under his guidance, the gang has become a force for good, making a positive impact on the neighborhood and beyond.”
Though Noah hasn’t revealed his identity publicly, he mentioned on his Twitter that he once held a significant position at a SaaS startup as an executive.
“We were ten employees strong when I started, worth maybe a couple million. In under five years, we were sold for $1.2b. We raised twice and were sold,” he said. “I know what it takes to build on a tight budget. We had to pivot, innovate, grow in a competitive space.”
While there have not been any specific new plans or announcements since the acquisition, Noah told the Gutter Cat Times that his plan for Gutter Gat Gang is to “tap into the community and creators who are here, and give them a platform to build.”