Stories that hurt
Date: 2023-07-16 Author: Karina Ziganova Categories: BLOCKCHAIN
1. Punishment for haste
A member of the crypto community under the nickname Pranksy was once the owner of 12.5% of the Bored Ape Yacht Club NFT collection. He sold all of his tokens within three months of minting – just before the prices of NFTs from the Bored Ape Yacht Club collection skyrocketed.
One of the Pranksy tokens was exchanged for a collection of music recordings. Even taking into account the fall in prices in the digital asset market in 2022, the deal looks extremely unprofitable.
However, Pranksy is far from the only member of the crypto community who hastened to sell his "golden" tokens too early.
A similar story happened to a member of the crypto community under the nickname Flur. He got rid of the tokens of the Azukis project too early, without understanding its features. Two NFTs from his collection turned out to be particularly rare, and therefore one of the most expensive.
He sold tokens for $5,000, which sounds good. The situation changes when you find out that now these NFTs are worth $200 thousand each.
2. Payment for inattention
Balloonsville turned out to be one of the most hyped NFT projects on the Solana blockchain. Its creators earned about $500,000 on minting tokens. Unfortunately for investors, it turned out that scammers were behind the project. The attackers reported this themselves, openly mocking gullible buyers.
It turned out that a team of scammers had previously worked on the Doodled Dragons project. Users of the latter also lost money. The story looks especially sad for the investor Balloonsville, who managed to get a tattoo with his favorite project.
3. Don't spit into the well
In November 2022, the market was shocked by the news of the collapse of one of the largest crypto exchanges at the time, FTX. Solana suffered the most from the death of the project. The fact is that FTX was one of the main investors in the platform. As a result, digital assets created on the basis of the project quickly depreciated. In particular, Solana NFTs began to rapidly become cheaper.
At a time when everything was already bad, the creator of the two largest NFT projects on Solana — DeGods & y00ts — a member of the crypto community under the nickname frankdegods added fuel to the fire. In his tweet, he suggested that such a development would lead to the need for projects to move to Ethereum.
Frankdegods posts, as expected, provoked a wave of sell-off of DeGods & y00ts tokens. Users began to get rid of NFT projects, in the future of which even their creator does not believe.
The irony is that Solana has survived, the hype has subsided, and the value of tokens from the mentioned collections has recovered from the values recorded at the time of the collapse of FXT.
