Molly White (no relation) continues to run an extremely important blog, Web3 is going just great, when it comes to understanding cryptocurrencies and NFTs (Non-Fungible Tokens). Here’s the latest post:
The Superlative Apes NFTs are a collection of Bored Apes derivative NFTs that feature colorful pastels. The project amassed a large following (including, apparently, the rapper Eminem), and its first collection of 4,444 NFTs sold out after launching in December 2021, netting the creators 301 ETH [Ethereum coins, a competitor to Bitcoin] (about $1.2 million at the time). They also sold most of their 8,888-piece Superlative Mutated Apes collection …
For lots more money. But here’s the important part:
The project has been plagued with issues including missed deadlines, accusations of plagiarism (somehow), and connections to another rug-pulled project. Additionally, a flawed staking contract required the team to have holders migrate their NFTs to a new contract—a slow and painful process that has resulted in most of the NFTs being “stuck” in a temporary contract. People who have questioned the project or accused them of rug pulling have been banned from the Discord and blocked on Twitter.
Because negative remarks will slow the flow of wealth from the non-wealthy to the wealthy, and we Just Can’t Have That.
This is computer-based grift. If the project personnel were honest, there’d be no banning anyone who had negative comments; instead, they’d be responded to and, if they’re trolls, permitted to twist in the wind.
The banning simply marks the project as dishonest, and possibly fraudulent.
If you have any urge, any inclination to “invest” in cryptocurrency, NFTs, or a “Web3” project, I’d suggest reading her blog for a while. Then, find a couch and lie down until the urge fades away.
