As NFT hype collapsed and trading volumes plunged, many collections vanished. Yet Rektguy—symbolized by a hooded skeleton raising a bottle—continued to thrive, using humor, utility, and strategic vision to outlast the chaos.

From its free mint launch in 2022 to retail product success in 2025, Rektguy has evolved from a cathartic sketch of crypto pain into a multifaceted brand. By blending Web3 culture with tangible utility and physical-world expansion, it forged a model for NFT survival in a post-hype world.

Key Takeaways

• Rektguy’s success is rooted in community-driven engagement, not market speculation.

• Practical innovations, such as NFT-collateralized loans, gave holders real financial utility.

• The CC0 license empowered cultural spread through viral memes and derivatives.

• Strategic real-world extensions, like Rekt Drinks, brought the brand to retail shelves.

• Ongoing support from influencers and revenue reinvestment reinforced longevity.

What Is Rektguy?

Rektguy is an Ethereum-based NFT collection launched in May 2022, founded by ex-Wall Street trader and NFT artist Ovie Faruq (OSF), alongside collaborators Mando and Alien Queen. The collection features the iconic image of a skeletal figure—a tongue-in-cheek nod to being “rekt,” or financially ruined, in crypto parlance.

The concept emerged from OSF’s trading days, where he would sketch the character as a cathartic response to market volatility. When the full collection launched, it did so with zero cost to minters beyond gas fees, capping out at 8,814 minted NFTs.

But Rektguy’s appeal wasn’t just aesthetic. It embodied the shared experience of loss in crypto, wrapped in dark humor and community spirit—two elements that carried it well beyond the initial NFT boom.

Building True Utility: More Than a JPEG

Rektguy differentiated itself by offering practical tools for holders—something most projects lacked.

• DeFi Integration: Rektguy pioneered NFT-collateralized lending by partnering with platforms like NFTfi, allowing holders to borrow against their NFTs without liquidating them. This positioned Rektguy NFTs as productive assets, not just collectibles.

• Rekt Rewards & DRANK Points: The launch of Rekt Rewards in 2024 introduced “DRANK Points,” earned by posting online and buying Rekt Drinks. These points unlocked perks, building a fun feedback loop between brand and community.

• Revenue Sharing: OSF’s announcement that all future royalties from his artwork would flow into Rekt Brands added long-term financial backing and aligned incentives between creator and community.

Utility transformed Rektguy into more than just art—it became infrastructure for engagement and value accrual.

Source: Rektguy

From Meme to Mainstream: Cultural and Commercial Expansion

Rektguy leveraged its meme origins to make a real-world impact.

• Creative Commons Zero (CC0) Licensing: By going full CC0, Rektguy handed over the keys to its art—no gatekeeping, no permissions needed. Anyone could remix it, sell it, or build something entirely new with it. That move turned Rektguy into a playground for meme makers, digital artists, and creative tinkerers across Web3. It wasn’t just about sharing—it was about letting the culture take the wheel. Since then, the CC0 approach has sparked a wave of open-source creativity, inspiring projects like Broadside to follow suit.

• Mainstream Retail: Rekt Drinks: In June 2025, Rektguy made a major leap into physical retail with the launch of Rekt Drinks at Southern California 7-Eleven stores. The debut flavor, Liquidated Lime, was promoted via in-store events offering $REKT Coin rewards to early buyers. Over 600,000 cans were sold, proving the brand’s resonance beyond crypto-native audiences.

• Brand Infrastructure: Rekt Brands: In late 2024, the team formalized their commercial vision by launching Rekt Brands. This corporate structure allowed NFT holders to share in its success through equity-like benefits, turning community into co-owners.

By straddling the digital and physical worlds, Rektguy ensured its survival wasn’t tethered solely to blockchain buzz.

A Community That Never Left

While many NFT Discords turned ghost towns during the downturn, Rektguy’s stayed alive. Its community didn’t just discuss price—they made memes, hosted contests, and celebrated their shared sense of humor around loss. This created a sticky, almost tribal bond.

The project didn’t lean on celebrity hype, but it didn’t shy away from it either. Endorsements from names like Snoop Dogg and Cozomo de’ Medici lent credibility during early stages and helped expand reach.

But ultimately, the project’s durability came from its core: a community that found joy in the shared absurdity of crypto, even in its darkest moments.

Conclusion

Rektguy was never built for a bull market—it was made for what comes after. Its ethos of self-aware resilience, combined with real financial tools and strategic cultural growth, allowed it to outlast countless projects that were built on hype, not on substance.

By keeping its skeleton grinning while others vanished, Rektguy turned being “rekt” into a badge of honor—and in doing so, built a brand not just for the crypto faithful, but for anyone who’s ever taken a hit and kept laughing.

A prominent crypto analytics firm says the layer-1 blockchain Hyperliquid (HYPE) is dominating the decentralized perpetual futures trading market.

In a new thread on the social media platform X, Blockworks says that Hyperliquid now accounts for nearly 80% of perpetual futures trading volume in the decentralized exchange (DEX) space.

According to the crypto insights platform, Hyperliquid is massively outperforming its competitors due to an effective token-listing strategy and top-notch user experience (UX).

“Hyperliquid’s success stems primarily from rapid, relevant token listings and superior UX for users and market makers.

Currently, it is the only DEX that has been able to compete with CEX (centralized exchange) volumes.

Over the past three months, the platform has averaged $6.4 billion in daily trading volume, which sits just above 50% of the daily trading volumes of Bybit and OKX.“

Blockworks notes that Hyperliquid’s trading engine, HyperCore, has given the project sufficient capital to initiate huge token buybacks.

“Fees generated on HyperCore are divided between the HLP (Hyperliquidity Provider) and the assistance fund. The assistance fund uses fees to buy back the HYPE token. From February until now, the assistance fund has bought a cumulative $96 million in HYPE, which is approximately $1.4 million daily.”

Blockworks predicts that Hyperliquid will grow large enough to take on its CEX counterparts.

“We expect HyperCore to start competing with CEXs and taking market share away from them, while continuing its dominance in the decentralized perpetuals space.”

At time of writing, HYPE is trading for $18.01.

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While there is no surefire way to put these doubts away, on-chain data can provide relevant insights into what is to come. The latest on-chain data suggests the highlighted level below is the one to watch before investors return to the market.

Level To Watch Before ‘Buying The Dip’

In a recent post on the X platform, crypto analyst Maartunn shared that it might not be technically secure to reenter the Bitcoin market at the current price. This analysis is based on the movement of the Bitcoin price relative to the current value of the short-term holders’ (STH) average cost basis.

The STH average cost basis metric estimates the average price at which short-term holders (investors who have owned Bitcoin for less than 155 days) acquired their coins. It represents a psychological level for BTC investors and could act as a reference point for price analysis, especially during bull cycles.

Bitcoin usually trades above the short-term holders’ average cost basis during bull markets, signaling substantial buying pressure and optimistic sentiment from short-term investors. On the flip side, when the price of BTC falls beneath this cost basis — as seen in the ongoing correction, it implies that short-term investors are at a loss, which could lead to a sell-off and precipitate significant bearish pressure.

According to data from CryptoQuant, the Bitcoin price is currently 6% below the short-term holders’ average cost basis at $90,950. With the flagship cryptocurrency beneath the realized price of short-term holders, the odds are that BTC price could face further selling pressure as the investor cohort looks to minimize their loss.

Using this logic, Maartunn noted that investors might want to wait till the price of Bitcoin climbs above the STH average cost price before reentering the market. Interestingly, the short-term investors appear to still be loading their bags. Crypto analyst Ali Martinez revealed in a post on X that short-term holders have purchased more than 35,000 BTC in the past 4 days.

Bitcoin Price At A Glance 

As of this writing, the price of BTC sits just below the $86,000 mark, reflecting an over 2% jump in the past 24 hours.