After raising $70M from its 3 ETH mint price, the NFT project Pixelmon is facing backlash. The stir is being caused by the project's less than pleasing art reveal.
The project's founder even went as far as to call the artwork a "horrible mistake."
Now we know art is subjective, so go ahead and decide for yourself:
The 3 ETH mint price:
Given the egregiously high price to mint a Pixelmon in comparison to the current industry average of around 0.04-0.1 ETH, the project had high expectations from its holders.
These people were minting Generation 1 Pixelmon, which, according to the project's website, are exclusive to the mint and will not be able to be caught in-game.
Later-generation characters will be able to be caught in the Pixelmon virtual world, which appears to be a cross between Pokemon and Decentraland. Given that later Pixelmon characters could theoretically be caught and traded at uncapped amounts, these exclusive Gen 1 Pixelmon were able to garner a high perceived value due to their exclusivity.
The Drama:
- Pixelmon's founder, who goes by Syber on Twitter, has acknowledged the grievances with the current artwork but maintains that the actual in-game characters will be improved.
- It was later discovered that many of the in-game assets were just bought from the Unity asset store.
The floor price of the Generation 1 Pixelmon is now ~0.4 ETH.
