Gutter Cat Gang token launch fails amid technical woes

The Gutter Cat Gang (GCG) NFT project encountered significant setbacks during the launch of its GANG token on ApeChain on March 31, 2025.

The launch was marred by technical issues and reportedly low investor interest.

GCG's chief architect, known as "Yugen," announced on Discord that no GANG tokens were distributed due to a technical issue with a third-party contract.

The problem prevented the 100% liquidity claim on the first day, blocking participants from trading their tokens.

"You will be getting your $GANG. But not today. I will come back with a new exact date and time," Yugen stated in the Discord announcement.

The token sale faced criticism from NFT enthusiasts, with some describing it as a "fumble."

Reports suggest that the team inadvertently locked up 100% of the token supply in the vesting contract, contradicting the planned tokenomics.

GCG's original plan was to unlock 12.5% of GCG NFTs and 15% of Seed Round allocations immediately, with the remaining tokens set to vest daily over 18 months.

The project aimed to sell 12% of the total supply at $0.0089 per token, targeting a raise of approximately $1.08 million.

Unconfirmed reports on social media platform X claim that the sale only raised about 3.66 Ether, valued at roughly $6,800, falling significantly short of the $1 million target.

GCG has not officially confirmed or addressed these figures.

The GANG tokens were marketed as "useless" and "just vibes" with "no promises" and "no roadmaps," an unusual approach in the cryptocurrency space.

GCG, launched in June 2021, began as a collection of 3,000 unique NFT avatars set in a post-apocalyptic world.

The project's NFT floor price has seen a substantial decline, dropping from 8.5 ETH in September 2022 to 0.19 ETH at current prices.

The NFT firm was acquired by Noah, also known as "Mauloadream" on X, in October 2023 for an undisclosed amount.

As of April 1, 2025, GCG has not announced a new launch date for the GANG token, leaving investors and community members waiting for updates on the project's future.