CoinMarketCap takes a look at some of the most prominent P2E and NFT events — from KPMG Canada acquiring a NFT and ENS name, to Pixelmon's NFT art generating hype for all the wrong reasons.
Find out more about the most interesting events in the NFT space over the past week…
KPMG Canada Acquires World of Women NFT and ENS Domain Name
Nansen Wallet Profiler Dashboard for kpmgca.eth
A $70 Million ‘Horrible’ Mistake: Pixelmon NFT Turns Out To Be a Huge Flop
Weeks after spending around $10,000 on NFTs, many investors have been taught a bitter lesson that it takes more than hype to build a successful crypto project.
Prior to its mint last month, the Pixelmon team told potential buyers that they would receive “the largest and highest quality game the NFT space has ever seen.” The project had planned to build out a play-to-earn metaverse platform that offers special perks to holders of its “Generation 1” Pixelmon.
7,750 NFTs were sold via a Dutch auction, with mint prices starting at 3 ETH. Being a Dutch auction, prices dropped by 0.1 ETH every 10 minutes, meaning that some mints were less than 3 ETH. Nonetheless, collectors paid a high price for these NFTs.
The most outspoken critic of all might be @cobie, who had much to say about the artwork launch:
As a testament to the flop, Pixelmon’s founder, Syber, admitted that the reveal was “unacceptable.” However, the team will not be abandoning ship, at least not yet.
“I’m not going to sugar coat it – we made a horrible mistake. To put it simply, we are sorry. This is unacceptable. We felt pressured to push reveal and the reality is we weren’t ready to push the artwork. This does not represent the brand and we will fix this as we have let many people down with this reveal.”
Following the drama and public backlash, Syber announced that the team will allocate $2 million to completely revamp the designs by hiring a renowned studio to work on the project. The assurance did not do much to pacify the community as many criticized the wide gap between what was raised and the amount earmarked for developments – a mere 3% of the total funds.
Indie Feature Film ‘Calladita’ Turns to NFTs for Capital
Well, director Miguel Faus is turning to NFTs to finance his film starring Emily Mortimer and Paula Grimaldo. Faus is confident that the first few films to raise funds through NFTs will have a “place in history.” He said:
"They will be pioneers in a new route that I think is going to be huge for indie filmmaking across the world."
His debut feature film titled “Calladita” began its crowdfunding campaign on March 2, with NFT rewards to those who contribute to the raise.
Speaking to crypto news site Decrypt, Faus argued that issuing NFT rewards is more economical than traditional crowdfunding models.
NFT holders will receive videos from the film, a unique four-minute film centered on the Ana character, as well as art inspired by Calladita. It is worth mentioning that the four-minute perk is a one-off and only one backer will own the short. Faus said:
"There are a ton of film buffs in the NFT space—and also people who are excited by something new. Even if they're not particularly cinephiles, they are excited to see a new use-case for NFTs. Everything in the film industry can be disrupted by this technology, and will be. The Netflix killer is going to be Web3 native."
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Adult Film Star Lana Rhoades Abandons NFT Project, Deletes Twitter Account
While the team behind Pixelmon has promised to stay back despite their flop, another new NFT artist has decided to call it quits. Apparently, launching a successful NFT collection takes more than just piecing jpegs together.
Adult film star Lana Rhoades has pulled the plug on her NFT project dubbed CryptoSis. According to her, she wants nothing to do with NFTs. Rhoades also proceeded to delete her Twitter account last Thursday.
The CryptoSis project was launched in January. The adult film star frequently promoted the project to her large social media audience of 16.8 million followers on Instagram and 1.5 million on Twitter. According to her, CryptoSis will turn out to become “a lucrative investment for holders.”
Things didn’t exactly go as planned as the initial collection did not sell out fast. She was forced to lower it to 6,969 and then again 6,069 to boost its appeal. Sadly, all attempts to bring some hype to the project failed, forcing Rhoades to abandon the project.
As for the NFTs, the floor price has plummeted from its original mint price of 0.1 ETH ($261) to 0.01 ETH ($26) on OpenSea. Despite the poor performance of the NFTs, it’s holders have been holding on to them. 94% of the NFTs have been held for at least 30 days and the number of unique addresses have remained relatively stable at 3.2K unique addresses.
Marvel Producer Arad Wants to Turn Huxley NFT Comics Into a Film
Arad Productions has announced its plans to turn an NFT comic book series into a feature film. Ben Mauro’s Ethereum NFT comic book project Huxley is set to become a feature film, thanks to the Marvel film producer Ari Arad.
For now, there is no target date for the release of the Huxley film. However, there are plans to release Huxley-themed metaverse experiences later this year, leading to the launch of the movie.
Released in October as 10,000 NFTs, Huxley is a science-fiction tale spread across six issues. The second issue has been released, with four more to go.
Nansen’s NFT God Mode Top Balances Dashboard
Almost 50% of the NFTs are held by 42% of addresses and they’ve held it for more than 90 days. The number of unique addresses having at least 1 Huxley Comic NFT has been increasing over time as well, indicating that there is increasing interest in the collection.
NFT Community Comes Together to Raise Funds for Ukraine
Amid Russia’s ongoing invasion of Ukraine, the crypto community has stepped up in support of the beleaguered nation. Several DAOs have sprung up to help those affected by the invasion.
Nadya Tolokonnikova, a political activist and critic of Russian President Vladimir Putin, and also a founding member of Pussy Riot, explained that the decision to purchase the Ukrainian flag was a “pure gesture of solidarity.”
To raise funds, 10,000 Ukrainian flag NFTs will be sold on the Ethereum blockchain. The proceeds will be channeled to the Return Alive Foundation and NGO Proliska. Furthermore, a unique flag NFT has also been released to allow other people to contribute.
Alona Shevchenko, an England-based Ukrainian activist, is one of the brains behind the project. She said:
"Creating a DAO is a good way to get international and Web3 attention and give the Ukrainian people a voice. This is exactly what DAOs are for, making change offline in the real world harnessing the power of blockchain."