Many NFT projects attract huge attention and bring huge profits to those who are lucky enough to become the owner. However, there are also projects that have not been able to achieve the same success.
1. launch other side was most anticipatedtens of thousands of people have been waiting for this moment. But at the most inopportune moment it happened huge problem, which led to the loss of users more than 150 million dollars due to failed transactions. And those who succeeded paid up to 7,000 dollars for gas. Collection Creator turned a blind eye to the problem, blaming everything on Ethereum.
2. Zagabond , creator Azuki , published an article revealing that he was the creator failed collections of Phunks, Tendies and Zunks. This led to the fact that Zagabond was showered with criticism and allegations of fraud. In particular, he was accused of the fact that these projects were closed a few months after the launch, and the partners were left with nothing. The amount that Zagabond could embezzle itself exceeds $3 million. Zagabond himself stated that the projects were indeed unsuccessful, but all obligations to partners were fulfilled. This scandal began to take its toll on the highly successful Azuki, and Zagabond decided to transfer the property rights to the former partners, as well as pay compensation. However, this did not help to whiten the reputation, and the price of Azuki almost doubled.
3. Collection Doodles was created silently and without undue attention, so it was assigned big hopes. However, no one expected Doodles to announce digital socks. A wave of hate covered everything related to Doodles. However, the subsequent statement from the creators only made it worse - Poopie stated that Doodles are more is not an NFT project. Then the creators left the media space for almost 2 months. When he returned, Poopie literally sent one of his followers to hell when he offered to buy Doodles from him.
4. Collection Moonbirds was one of the most popular. Just a few weeks after the launch, the floor price rose to 40 ETH. However, everything changed on August 4 when the founder announced that the Moonbirds moves to CC0. The decision to move came as a surprise to many. Someone was happy, because at that time CC0 was extremely popular. Someone was irreversibly upset, as the transition to CC0 meant that the owners lose their exclusive rights on the art of Moonbirds.
5. RTFKT is a digital studio that creates products for the metaverse, is best known for the release of digital sneakers. The launch of the MNLTH collection was most controversial - everything was so bad that the minimum price for the collection fell by 80% in just 3 hours. The problem was people were paying up to $10k buying MNLTH and waiting 8 months only to find out that all they get access to is an opportunity buy a pair of shoes. RTFKT has also restricted who can receive these shoes to only US residentsand didn't tell anyone about it beforehand.
Failed NFT collections are an important example that there is no guaranteed success in the world of cryptocurrencies and decentralized markets. Before purchasing an NFT, it is recommended that you conduct a thorough research of the project, the development team, the value and uniqueness of the NFT, and take into account the long-term sustainability and potential of the project.
Based thread : Evaneskate
#nft #twitter #otherside #zagabond #azuki #doodles #moonbirds #rtfkt
