Pixelmon Developers raised $70M in NFT sales to create an RPG. The similar (not so) to Pokemon game would take place in the world of Eden where players could capture, trade, and sell the NFT Pixelmon characters.
A game that is nowhere near finished managed to sell NFTs worth a minimum of 3 ETH each. After every 10 minutes, the cost to buy an NFT character would then drop by 0.1 until the lot of 10,000 NFTs sold out.
The marketing was highly successful and people bought these good-looking NFTs worth over $70 million. Everyone was pumped and hype was going on, until the actual artwork reveal.
Laughing and disappointment was rapidly spread across the industry. At the same time, the investors started questioning and accusing the project as a scam, following what might be the most ugly graphics in a game, worst than the first version of GameBoy portable console.
Back in December 2021, Syber, who’s real name can not be found on the official website, stated that Pixelmon is the next blue chip, arguing people not to conduct their own research and went a step further to say that the tweet was a financial advice.
The backslash Pixelmon has received is enormous and NFT buyers are apparently disappointed, with many claiming they have been tricked to buy-in as the original graphics had nothing to do with what they received.
As always, we challenge you NOT to invest in the first project you see and most importantly, don’t spend such large amounts in projects you don’t know or have researches in-depth, or the developers have not a successful record.
As reported, Pixelomon is working on new models with better graphics.
Besides the furious reactions, there were some funny tweets circulating over twitter.
From our experience, it’s better to miss out rather than taking rational decisions, always do your own research guys.