BARK AND BYTE: Clutch Markets Pixel Pups Mint Out As Anvil And $K9 Go Live!

Clutch Markets is bringing bark and byte to Ethereum following its Pixel Pups free mint and K9 token drop, where each dog is backed by 1,000,000 tokens.

It’s been a woof week across Web3 after Clutch Markets’ 0xSimpleFarmer invited NFT holders from ApeChain and Ethereum mainnet to adopt a doggo from his new Ethereum based collection, Pixel Pups.

 

 

As the Gazette previously reported, SimpleFarmer said he sees this collection as an opportunity for ApeChain to reach a new, Ethereum native audience and give them exposure to a different ecosystem.

“It’s about adding distribution channels and allowing some eth mainnet users exposure to ApeChain based projects,” SimpleFarmer told the Gazette. “We are eager to grow our community and product line and now we feel like we are ready.”

 

While the free mint was slow to sell out, price action on the 1,123 doggos picked up quickly post mint as collectors and traders realized this was more than just another puppy project.

Last night, Clutch Markets launched its new Anvil tech, which allows any collection to drop a token backed by its NFTs.

“Clutch your cheeks K9 is live & The Anvil is live,” Clutch Markets tweeted.

 

To kick things off, SimpleFarmer launched $K9 for the Pixel Pups collection, making each puppy redeemable for 1,000,000 $K9 and vice versa.

“$K9 is the dog coin for the Ethereum trenches,” Clutch explained. “It comes out of the culture of the people who stayed through every cycle: holders, traders, collectors, and builders who wanted an on-chain identity that felt native to them. K9 already has live utility inside the Clutch stack. It powers the Pixel Pups market on Anvil. It is the official token for Clutch Perps and it is the token we intend to support across Clutch deployments on ETH mainnet as we keep building.”

 

By introducing a token fully backed by NFTs, SimpleFarmer says collections will see increased trading volume and royalties, as the set up creates arbitrage opportunities that traders will look to capitalize on.

 

Tonight, $K9 is live on Anvil and trading at a market cap of $149,000, according to Dexscreener.

The Gazette is working to learn more about Anvil and will continue to follow everything Clutch Markets builds on Ethereum and beyond. Stay tuned for updates!