Yigit Taha OZTURK 
The Gutter Cat Gang (GCG) NFT project faced a troubled launch for its GANG token on Ethereum-based ApeChain on March 31. The project cited a “technical issue” from a third party as the reason for the failure, while some observers pointed to a lack of demand.
Launch Delayed Due to Contract Issues
GCG announced on Discord that no GANG tokens were distributed due to unexpected technical problems.
“Bad news,” wrote GCG’s chief architect, Yugen, on Discord. “The contract is stopping us from the 100% liquidity claim on day one,” making it impossible for participants to cash in and out.
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Despite trying to resolve the issue for over an hour, the team was unsuccessful. Yugen reassured the community that GANG tokens would still be distributed but did not provide a new launch date.
Tokenomics Plan Contradicted by Vesting Contract
Some community members criticized the launch, noting that GCG mistakenly locked 100% of the token supply in a vesting contract. This contradicted the project’s tokenomics plan, which initially allowed:
- 12.5% of Gutter Cat Gang NFTs to unlock immediately
- 15% of Seed Round tokens to unlock instantly
- The rest of the supply to vest daily over 18 months
GCG planned to sell 12% of the total supply at $0.0089 per token, targeting a $1.08 million raise and an implied market cap of $9 million.
Low Interest in the Sale?
Several reports on X suggested that the community sale raised only 3.66 ETH, worth approximately $6,800, falling far short of its $1 million target. However, GCG has not officially confirmed these figures.
The Gutter Cat Gang team marketed GANG tokens as “useless,” emphasizing that they came with “no promises” and “no roadmaps.”
Falling NFT Floor Price and Acquisition
Gutter Cat Gang launched in June 2021 with 3,000 unique NFT avatars set in a post-apocalyptic world.
At its peak in September 2022, the project’s NFT floor price was 8.5 ETH (around $15,240 at the time). However, according to NFT Price Floor, the price has since dropped to 0.19 ETH.
In October 2023, an X user and NFT collector named Mauloadream, also known as Noah, acquired the Gutter Cat Gang project for an undisclosed amount.
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