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Lazy Lion NFTs are a series of NFTs showing various drawn lions with algorithmically generated traits, keeping each token unique, similar to how CryptoPunks and Bored Apes Yacht Club operate. A community grew around the Lazy Lion NFTs, causing its price floor to rise and for it to become a popular NFT venture on social media outside of traditional cryptocurrency spaces. This has also led to the mockery of the project on social media, as people generally feel the tokens are not worth the exorbitant prices paid for them.
Lazy Lions launched on August 7th, 2021. The project was created by several Australians while in COVID-19-related lockdown, with the lions created by artist rizzio.eth. The project proved popular at launch, with 10,000 lions selling out to between 3,000 and 4,000 buyers in five hours, netting roughly $1.5 million. This caused the price ceiling to rise to over $2,000 by September 16th, 2021, the highest among competitors at the time. The most valuable Lazy Lion NFT at the time was traded at $50,000. As of October 11th, 2021, the most valuable Lion, #678, was sold at 99 ETH, the equivalent of over $350,000 (shown below, left).
Lazy Lion holders can get awards in the community by uploading their NFT as a Twitter profile picture, which has led the venture to gain a significant presence on Twitter. There are several posts on Twitter from people announcing their purchase and encouraging others to get involved (examples shown below).
This has led to a wave of parodies and criticisms of the venture on Twitter. For example, user @BillehBawb parodied such posts by claiming a picture of Doobie Ralsei was a Lazy Lion, gaining over 150 likes (shown below, left). User @only_hens posted a Skull Cow joke about the art (shown below, right).