The dark side of NFT history: Inventory of the darkest moments of the 5 major blue chips

Some people are devastated, some people are reborn from Nirvana.

Written by: Lamboland

Compilation: Luffy, Foresight News

NFT has lost its brilliance. Looking back at the history of NFT, Otherside, Azuki, Doodles, Moonbirds, and RTFKT have all experienced controversial moments. Are these doubts from the community the turning point of NFT's prosperity and decline? The tweets below reflect on those moments.

1. Otherside

Otherside was born out of the largest NFT minting event ever, with tens of thousands of participants queuing up to mint, which led to a serious problem.

Over $150 million in ETH was wasted as gas fees due to failed on-chain transactions, and those who were able to mint even had to spend up to $7,000 in gas fees to participate.

Even worse was Yuga Labs' response, blaming Ethereum instead of themselves.

This is crazy, there are countless ways to avoid gas wars. For example, they could do a permission list and gas wars would be avoided entirely.

2. Azuki

Azuki founder Zagabond published an article revealing that he is actually the creator of CryptoPhunks, Tendies, and CryptoZunks.

The article caused an uproar because Zagabond:

• Profited more than $3 million through 3 projects in two months
• Abandoned the project after a few weeks
• 3 projects associated with different identities/wallets
• Reserved smart contract management rights

To quell the FUD, Zagabond engaged in a tweet the next day. He said he has delivered on his commitments to these projects. He will soon transfer ownership of these projects and redistribute funds to the community.

But the market did not buy it, and Azuki floor prices continued to fall.

3. Doodles

Doodles spend most of 2022 quietly building. As a result, expectations have been high for Doodles' follow-up. However, no one expected Doodles to release digital socks.

The community was disappointed and a wave of FUD spread on Twitter.

Doodles founder Poopie followed up with a statement that backfired and only made the FUD worse.

Poopie says they want Doodles to be the leading media brand, which is hilarious because they haven't tweeted anything for almost 2 months in 2022.

What really upset people was when Poopie said that Doodles is no longer an NFT item. And they don't care about anyone with financial motives, but in fact basically every NFT holder has financial motives.

Could things get worse? Indeed it will.

A frustrated holder asks Poopie to buy his Doodles. Poopie responded with "floor it and gtfo".

Poopie's communication was so bad that holders started asking him to go back and build silently. Interestingly, last year the holder was still asking him to communicate more.

4. Moonbirds

Moonbirds was one of the most popular NFT minting projects during the last bull run. Weeks after launch, their floor price skyrocketed to 40 ETH.

However, on August 4th, everything began to change. Founder Kevin Rose announced that Moonbirds is moving to CC0. This means that anyone can use Moonbirds for business purposes, not just the holders.

CC0 was the hot new topic at the time, and newly launched CC0 projects, such as GoblinTown, were surprisingly successful. So some people are looking forward to Moonbirds switching to CC0.

However, moving to CC0 was an irreversible decision, and Kevin made this decision without consulting the community of holders.

Many holders are rightfully upset. Some people bought Moonbirds precisely for the exclusive commercial rights, and now they're suddenly losing that right.

5.RTFKT

Launching MNLTH 2 was the most controversial thing RTFKT has ever done. Very badly, the floor price of MNLTH 2 dropped by 80% in just 3 hours.

RTFKT announced that MNLTH 2 holders have two rights:

*Available to buy shoes worth $580 - $1333

• Coupon code to buy that pair of shoes

Here's the problem: People paid up to $10,000 for MNLTH 2 and waited 8 months to find out that all they could get was the right to buy a pair of shoes.

RTFKT also restricted the purchase of the shoe to only US residents, which is crazy since over 50% of holders are not from the US.