Pixelmon, a non-alternative token (NFT) project that raised over $ 70 million earlier this month, recently revealed artwork that users paid up to $ 10,000 … and the crypto community has since been with them. I’m having a field day.
$ 70 million LOOOOOOOOOL pic.twitter.com/GAcfAuMlsS
— Cobie (@cobie) February 26, 2022
The definition of “art” is a very subjective topic, but the overall quality of the Pixelmon 3D model still confused Crypto Twitter, but definitely didn’t go unnoticed.Users have been ramping up many “Derpy” creatures since yesterday, pointing out many of them. Pitch image It has little in common with the final product.
Expectations / reality pic.twitter.com/uCMJy6WTni
— Cobie (@cobie) February 26, 2022
according to DappRadarThe anonymous Pixelmon team has promised users to create “the largest and highest quality game NFT Space has ever seen.” To this end, they started pre-sale of an NFT called “Pixelmon – Generation 1” and ended on February 7th.
Eventually, 7,750 NFTs were sold at auction in the Netherlands. In other words, the price was reduced by 0.1 Ethereum (ETH) every 10 minutes, and the starting price was set at 3 ETH (about $ 9,500 at that time). As a result, the Pixelmon team has raised a total of about $ 70 million from crypto enthusiasts.
— _Wolcube _ (@_ wolfcube_) February 26, 2022
At the time of the press, the lowest price of Pixelmon NFT plummeted to 0.45 ETH (about $ 1,250) at the NFT marketplace OpenSea. This is far from the initial casting cost.
In a comment about the widely ridiculed art revealed today, the founder of Pixelmon, known only as “cyber,” admitted that his team “made a terrible mistake,” he said. Himself under.
“I’m not going to sugar coat it-we made a terrible mistake,” Syber wrote. “Simply sorry. This is unacceptable. We felt pressure to push to reveal, and the reality was that we weren’t ready to push the artwork. That’s because it doesn’t represent a brand and has disappointed a lot of people, so we’ll fix it. “
However, to “fix” the situation, Cyber has hired “a reputable studio to do these redesigns” and “2,000,000 to completely redesign and redesign the NFT with higher quality.” I promise you a dollar. ” Needless to say, the community wasn’t happy with this statement either. Pixelmon quickly realized that he would spend only about 3% of the money raised to completely renovate the project.
Developers, on the other hand, have recently reported that they have had no problems spending money on personal NFT purchases. As one user pointed out on the project’s Discord channel, “Pixelmon uses fund-purchasing bayc clones and red beans.”
“The market was down, so the development team’s wallet bought a few nfts,” Syber replied with a smiling emoji.
On the other hand, according to another member of the Pixelmon core team, Jason, unfortunate NFT buyers shouldn’t hold their breath in anticipation of a refund as they are “not a space mechanism”.
“We’re sorry for the inconvenience caused to Pixelmon, but we hope this is a valuable lesson about where to put money in the space,” said one commenter. Guess.. “The founder of Undoxxed without a product is the last place in the world to invest $ 70 million.”
Certainly it’s really hard to discuss it.
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