Connect with us

NFT

Porsche NFT Collection Flops Post Drop, Called a “Cash Grab”

Porsche’s first foray into Web3 didn’t go as planned, as the NFT collection severely struggled to sell out during launch day. The collection only sold 16% of its supply yesterday and the mint price is partially the issue. Let’s dive into the recent NFT collection flop.

The Unsuccessful Launch of Porsche NFT

On January 24, the Porsche collection of 7500 NFTs priced at 0.911 ETH each ($1412.24 USD) completely failed to mint out. Due to the costly mint price and lack of communication from the team, the NFTs had no appeal. This drove allowlist recipients and public sale competitors to run as far away from the project as they could. Not to mention, at the time of writing this, the collection is sitting at 0.9 ETH, which is below mint price.

The Community’s Reaction

As expected, the Porsche team’s poor approach resulted in waves of NFT community members voicing their opinions via Twitter. Calling the collection a cash grab wasn’t the only thing members were tweeting about. In sum, they did not hold back.

for the price of a porsche nft i could buy a ’96 civic which has way more utility pic.twitter.com/N8pDVfdkSn

— camol (@camolNFT) January 24, 2023

Perhaps we can look at the collection’s outcome as a positive for the space.

The Web 3 space is getting smarter.

Months ago, @eth_porsche would have minted out in under 10 mins.

But look where we are now. Their NFT hovering at mint price with only ~17% minted (1263/7500).

Congrats, yall are growing up

— maverick (@maverick23NFT) January 24, 2023

Porsche’s Response

Today, the Porsche Twitter account posted two tweets in response to the heavy vilification on Twitter. To specify, one of the tweets stated that the supply will be cut and the mint will be stopped. One hour later, another tweet was posted stating that the mint is still open and will close tomorrow (January 25 at 6 a.m. UTC). Finally, they ended the tweet by saying the following: “For our holders, we can’t wait to define the future with you.”

The post Porsche NFT Collection Flops Post Drop, Called a “Cash Grab” appeared first on NFT Evening.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

NFT

Nike .SWOOSH Platform Will Let Users Create Custom Wearables

The Nike .SWOOSH platform is shaking up the fashion world by allowing users to create digital wearables and mint them as NFTs. The #YourForce1 competition is running on Instagram until January 29th. Fans have the ability to submit a footwear design and, if chosen, will receive $5,000 for their work to be created into digital sneakers by Nike designers. This is a must for any Nike fan to see their design backed by the Swoosh.

The contest to work with Nike Designers runs until January 29th. Credit: Nike.

What Is The Nike .SWOOSH Platform?

The Nike .SWOOSH platform is a big move forward, as it will allow fans to create and sell their own digital wearables. The platform is built on blockchain, providing security and transparency in trades. Additionally, the platform will enable designers, artists, and everyday enthusiasts to create their own wearables and sell them through a decentralized marketplace. The Instagram competition runs until January 29th.

The .SWOOSH platform allows users to create their own designs. Credit: CoinSwitch.

Who Will Benefit From .SWOOSH?

Fans will be able to access the .SWOOSH platform directly from the Nike app. There, anyone can use a number of tools that will allow them to create their custom designs. Nike is also giving fans access to its library of designs, so that imaginations can run wild and iterations can be completed quickly. Finally, users will be able to set their own prices and receive payment directly.

Fans can sell their Nike designs directly via the Nike app. Credit: PYMNTS.com.

Nike Moves Into The Metaverse?

Nike is making big moves into the metaverse with .SWOOSH. The platform allows fans to create and sell their unique designs, all within the Nike ecosystem. Additionally, fans can join in on the #YourForce1 competition on Instagram. Winners get a chance to work with Nike designers. The competition runs until January 29th.

The post Nike .SWOOSH Platform Will Let Users Create Custom Wearables appeared first on NFT Evening.

Continue Reading

NFT

NFT Funded Film Calladita Wins Top Prize At Sundance

An NFT-funded film, Calladita, has won the top prize at the Sundance film festival. The movie, directed by Miguel Faus, tells the story of Ana and “explores themes of class differences and injustice from a profound and sophisticated perspective, moving away from easy clichés and caricatures.”

Calladita is a Film3 type of movie that employs decentralized technologies to free and empower independent artists. In this case, Faus and his team financed the movie using NFTs, and by winning the Andrews/Bernard Award, it’s a dream come true.

The award was established in April of last year by Steven Soderbergh, a renown filmmaker, and Decentralized Pictures. To encourage independent filmmaking talent, he committed $300,000 in completion funds for notable English-language films and shorts, with the NFT-funded film, Calladita, representing the first film to win the award.

Speaking to Decrypt, Faus notes that Film3 represents the future of independent cinema and is the reason the movie exists. The award presented on Saturday had Faus beaming. He took to Twitter to express his joy, thanking the Decentralized Pictures Foundation, his entire team, and the more than 500 individuals who believed in his idea and bought the NFTs.

Legend Steven Soderbergh just gave us a Completion Funds award for our film CALLADITA at Sundance.

HUGE thanks to @DCP_Foundation, our whole cast & crew, and the 500+ degens that made this film possible. pic.twitter.com/Br8DFmlAzc

— miguel faus.eth CALLADITA FILM (@miguelfaus) January 21, 2023

Decentralized Pictures is a non-profit organization that seeks to discover new and innovative filmmaking talent. The platform allows filmmakers to submit movie pitches by paying a submission fee in FILMCredits (FILM), its native token. Then, platform users get to vote on which ideas receive funding from grants.

According to Leo Matchett, cofounder of Decentralized Pictures, blockchain technology doesn’t only allow the platform to “fairly and transparently determine who deserves the financing the most, but also has this incentivized behavior mechanism built into it.”

What Does The Future Hold For Film3 After NFT Funded Film Calladita Won Top Prize?

That said, funding movies using NFTs represents a new frontier for filmmaking. So far, the likes of Spike Lee and Kevin Smith have utilized them to finance films and drive engagement. At a time when most people see NFTs as nothing more than speculative assets, maybe this is the kind of use case required to prompt mass adoption. Now it’s possible for fans to fund the next blockbuster and own a piece of its success.

Want more? Connect with NFT Plazas

Join the Weekly Newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

 

The post NFT Funded Film Calladita Wins Top Prize At Sundance appeared first on NFT Plazas.

Continue Reading

NFT

NFT Influencer Break Up Raises Suspicions About Barkmeta

Trouble in paradise: the breakup of NFT influencer BarkMeta (@barkmeta) & Leah (leelahmeta) has sprung a string of allegations against the former. Leah claims that in her time with BarkMeta, she has seen and heard things that could “destroy his personal brand”.

BarkMeta: Is The NFT Influencer A Fraud?

In the Twitter thread that allegedly exposes Bark, Leah starts by claiming that she has seen and heard things in their former relationship that could destroy his reputation entirely. The first in a series of accusations claim that Bark pays an ex-WeRunCrypto employee $15,000 a month to run the account. She states that the brand Bark has built with his “800 tweets a day” strategy isn’t even written by him. Moreover, she claims that Bark has been paying this person since October 2022.

Next, she accuses Bark of running a pump and dump project – Metaluxe. Metaluxe is a collection of 10,000 digital suits. She claims that a simple Google search and DYOR will help expose the project as fraudulent. Furthermore, Leah also alleges that Bark is in huge financial debt. According to her tweets, Bark is now in a debt of at least $500,000. She claims that this is why he left for Taiwan.

Additionally, she states fellow NFT influencer @MachiBigBrother (Jeffrey Huang) promised to pay off his debt if they worked together. In her tweet thread, she links to a previously published article claiming Machi to be a scammer. Leah says that the BAYC influencer flew her and Bark to Vegas, where they were hosted at 5-star resorts and even paid extra money to gamble. She goes on to say that Machi’s “business partners” that they could be rich if Bark gave Machi a 10% cut of the project he was working on.

Leah also claims that Alex (Shillain Villain) has returned to the USA from Taiwan to legally divorce his wife and “abandon” his 10-year-old daughters. She also claims that she has photo evidence, but is under threat from Machi’s lawyers. There are  NFT Evening follows the story as it develops.

 

 

The post NFT Influencer Break Up Raises Suspicions About Barkmeta appeared first on NFT Evening.

Continue Reading

Trending