{"id":2209,"date":"2022-02-27T02:47:52","date_gmt":"2022-02-27T02:47:52","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=2209"},"modified":"2022-02-27T02:47:53","modified_gmt":"2022-02-27T02:47:53","slug":"users-deride-70m-nft-project-pixelmon-following-reveal-of-its-art","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=2209","title":{"rendered":"Users deride $70M NFT project Pixelmon following reveal of its \u2018art\u2019"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n <\/p>\n<p>Pixelmon, a non-fungible token (NFT) project that raised over $70 million earlier this month, has recently revealed the artworks for which users paid up to $10,000\u2026and the crypto community has been having a field day with them ever since.<\/p>\n<p lang=\"en\" dir=\"ltr\">$70 MILLION LOOOOOOOOL pic.twitter.com\/GAcfAuMlsS<\/p>\n<p>\u2014 Cobie (@cobie) February 26, 2022<\/p>\n<p>While the definition of \u201cart\u201d is a highly subjective topic, the overall quality of Pixelmon 3D models left Crypto Twitter flummoxed nonetheless\u2014but definitely not speechless. Users have been lampooning numerous \u201cderpy\u201d creatures since yesterday, pointing out that many pitch images have little in common with the final product.<\/p>\n<p lang=\"en\" dir=\"ltr\">expectation \/ reality pic.twitter.com\/uCMJy6WTni<\/p>\n<p>\u2014 Cobie (@cobie) February 26, 2022<\/p>\n<p>According to <i>DappRadar<\/i>, the anonymous Pixelmon team promised users to create \u201cthe largest and highest quality game the NFT space has ever seen.\u201d To this end, they launched a presale of NFTs, dubbed \u201cPixelmon \u2013 Generation 1,\u201d which concluded on February 7.<\/p>\n<p>Ultimately, 7,750 NFTs were sold via a Dutch auction\u2014meaning their price dropped by 0.1 Ethereum (ETH) every 10 minutes\u2014with a starting price set at 3 ETH (around $9,500 at the time). As a result, the Pixelmon team has raised around $70 million from crypto enthusiasts in total.<\/p>\n<p lang=\"en\" dir=\"ltr\">Disclaimer: I&#8217;m disgusted and sorry for the community that has been screwed over by @Pixelmon. This video is in your honor. #Shitzelmon #Pixelmon #NFTs #OpenSeaNFT pic.twitter.com\/ZMUq46otz9<\/p>\n<p>\u2014 _wolfcube_ (@_wolfcube_) February 26, 2022<\/p>\n<p>At press time, the floor price of Pixelmon NFTs has plummeted to 0.45 ETH (about $1,250) on NFT marketplace OpenSea\u2014a far cry from their initial minting cost.<\/p>\n<h2>\u201cA horrible mistake\u201d<\/h2>\n<p>Commenting on the widely ridiculed art reveal today, the founder of Pixelmon, known only as \u201cSyber,\u201d acknowledged that his team \u201cmade a horrible mistake\u201d and that he has let <i>himself <\/i>down.<\/p>\n<p>\u201cI\u2019m not going to sugar coat it \u2013 we made a horrible mistake,\u201d Syber wrote. \u201cTo put it simply, we are sorry. This is unacceptable. We felt pressured to push reveal and the reality is we weren\u2019t ready to push the art work. This does not represent the brand and we will fix this as we have let many people down with this reveal.\u201d<\/p>\n<p>The Pixelmon team admits making \u201ca horrible mistake.\u201d<\/p>\n<p>To \u201cfix\u201d the situation, however, Syber promised \u201cto pledge $2,000,000 in order to completely revamp and redesign our NFTs at a higher quality\u201d by hiring \u201ca reputable studio to do these redesigns.\u201d Needless to say, the community was not happy with this statement as well, quickly noting that Pixelmon plans to spend only about 3% of the raised funds to fully revamp its project.<\/p>\n<p>Meanwhile, the developers reportedly had no issues with spending the fund on personal NFT purchases lately. As one user noted in the project\u2019s Discord channel, \u201cPixelmon use the fund buying bayc clone and azuki.\u201d<\/p>\n<p>Pixelmon founder acknowledges NFTs purchases using the project\u2019s fund.<\/p>\n<p>\u201cMarket took a dip so our dev team wallet purchased a few nfts,\u201d Syber replied with a smiling emoji.<\/p>\n<p>Meanwhile, unhappy NFT buyers shouldn\u2019t hold their breath in hopes of a refund since \u201cthat\u2019s not how the space works,\u201d according to \u201cJason,\u201d another member of the Pixelmon core team.<\/p>\n<p>\u201cThat\u2019s not how the space works.\u201d<\/p>\n<p>\u201cI\u2019m sorry y\u2019all got rugged on Pixelmon but I hope this teaches the space a valuable lesson on where to put money,\u201d one of the commenters inferred. \u201cUndoxxed founders with no product being the last place in the world to put $70m.\u201d<\/p>\n<p>It\u2019s really hard to argue with that indeed.<\/p>\n<p><h2>CryptoSlate Newsletter<\/h2>\n<\/p>\n<p>Featuring a summary of the most important daily stories in the world of crypto, DeFi, NFTs and more.<\/p>\n<h2>Get an edge on the cryptoasset market<\/h2>\n<p>Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/users-deride-70m-nft-project-pixelmon-following-reveal-of-its-art\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pixelmon, a non-fungible token (NFT) project that raised over $70 million earlier this month, has recently revealed the artworks for which users paid up to $10,000\u2026and the crypto community has been having a field day with them ever since. $70 MILLION LOOOOOOOOL pic.twitter.com\/GAcfAuMlsS \u2014 Cobie (@cobie) February 26, 2022 While the definition of \u201cart\u201d is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2210,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-2209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/2209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2209"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/2209\/revisions"}],"predecessor-version":[{"id":2211,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/2209\/revisions\/2211"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/2210"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}