Is the NFT blind box really safe within a week?

Players who are immersed in the NFT field have become accustomed to the “blind box” NFT issuance method.

Like Bubble Mart’s blind box, investors don’t know in advance what the NFT they get is like. Since the NBA Top Shot has become popular, the blind box has occupied the main gameplay of NFT. Just as the emergence of on-chain gambling games in the past led to the pursuit of true random numbers on the chain, investors have absolute trust in the blind box on the chain. It seems that there will be no accidents in the blind box on the chain when the contract is hard to write. However, in addition to the contract on the chain, the upload method of the development team and the content control of the creative team are important factors that determine the security of the NFT blind box.

Recently, several blind box NFTs that have received much attention have experienced serious accidents such as serious non-randomness, early content leakage, content infringement, etc., which caused the floor price to break, the community complained, and some even went directly off the shelves.

BoredMummyWakingUp-The mummy fell to the floor and fell asleep again

The “boring mummy” is a mummy NFT series made by combining the traditional elements of various countries due to its excellent design. There were more than 2,700 owners before the blind box was opened.

However, there was a delay of nearly 3 hours on the day of opening the box. After opening the box, there was a major problem. The developer made a mistake when uploading to the cloud server, which caused all the rare mummy NFTs to appear between 6000-6444. . This means that investors outside the range of 6000-6444 have a zero percent probability of acquiring rare items.

Is the NFT blind box really safe within a week?

In the following hours, the development team recalled all 8888 NFTs and reshuffled their cards, which greatly dissatisfied investors who obtained rare NFTs. A few hours after the accident, the development team carried out a quick remedial plan on Twitter and the discord community.

Is the NFT blind box really safe within a week?

1. Recycle NFT at the collector’s purchase price

2. Continue to hold until the event is over, maybe airdrops will be given to everyone

Afterwards, according to the developer’s announcement on discord, “The remedial plan for this incident currently cost the entire team nearly 100 ETH .” And the expenditure is still rising.

In addition, because of data errors and display errors, some very rare mummy series have been ranked very low on websites such as rarity tools. This error has not been corrected so far.

Although the entire development team of BoredMummyWakingUp reacted very quickly from posting to problem solving, they are actively solving the problems of each collector, but even so, the loss of enthusiasm among some collectors cannot be avoided, and the floor price has been all the way from 0.19ETH. It fell to 0.03ETH (the deadline is until August 18, 2021).

Is the NFT blind box really safe within a week?

The Wanderers-I don’t know anything in space, so nothing happened

“The Wanderers”, a spacecraft cockpit with a psychedelic cyber-style, was sold out within 27 minutes of its launch due to its simple and unique design. The development team also promised to provide each owner with tools for making high-definition pictures, which can be used as social avatars and backgrounds.

Is the NFT blind box really safe within a week?

Is the NFT blind box really safe within a week?

The problem of The Wanderers is similar to BoredMummyWakingUp. Before the blind box was revealed, because the hyperlink was uploaded in advance, many people were able to extract the NFT data from the underlying hyperlink in advance, resulting in an accident in which the blind box could be known even if the box was not opened. . For buyers, what is in front of them is a “blind” box with transparent packaging. Therefore, after the opening and closing, the The Wanderers series flooded the secondary market OpenSea with a large number of unopened blind boxes with varying prices.

Is the NFT blind box really safe within a week?

As of the time of writing, the developer team of The Wanderers did not apologize for this matter and proposed any remedial measures. Compared with the mummification project, The Wanderers’ non-discriminatory approach did not prevent the secondary market from collapsing. The floor price dropped to around 0.05ETH (as of August 18, 2021).

Sad Frogs District-Sad Frogs District is sadder than its owners

The sad frog was re-created on the basis of the sad frog Pepe, which is popular on social networks, and soared on the 7th value list of raity tools in a short period of time. Although the blind box format is also adopted, the sad frog development team did not experience data errors like the above two teams. The problem lies with the design team. Because of the suspected plagiarism, the original author warned the sad frog NFT and delivered a lawyer letter. OpenSea removed all Sad Frogs District NFT products at the same time.

Is the NFT blind box really safe within a week?

Regarding the removal of Sad Frog, although the development team apologized within the dicord community, it was also gathering community members to try to control and criticize and oppose negative news.

Is the NFT blind box really safe within a week?

Is the NFT blind box really safe within a week?

Regarding the delisting and solutions, the development team said in the community: “Our response to the DMCA (Digital Millennium Copyright Act promulgated by the United States) complaint has been submitted to OpenSea. We dispute the allegations of infringement. We believe that the sad frog is just the Internet. The simple extension of meme culture will never infringe the copyright of Matt Furie (the original author) and his Pepe works. We are just imitating the frog species, like Doge and Shiba. Matt has 10 days to hire legal counsel to refute us In response, if he does, he is destroying his original intention of creating meme, and more importantly, destroying the economy of 1,900 Sad Frogs District NFT holders. 1,900 ordinary people live and destroy. The choice is yours. Li Matte, you choose to be the devil or the savior.

Although the development team strives to deny the infringement, as for when it can be re-listed, the official has given information that it will be re-listed after removing elements related to Pepe (mainly eyes and mouth).

Is the NFT blind box really safe within a week?

The three items mentioned above will not make collectors who love blind boxes lose their enthusiasm, but the frequent accidents within a week have to make us vigilant.

Although NFT has uniqueness, provable scarcity, liquidity, tradability, and extremely high value that can prove who the owner is, it also brings a mixed bag of markets. Many immature projects, immature teams, in order to get a share of the pie early, and neglect the most basic polishing of the project and rush into the market. There have been many copycats of “creatives” and plagiarisms of “creatives”. They roughly cover the slogan of “tribute” and simply make an “attractive” development roadmap (Roadmap), and they will be able to hype marketing in the Crypto community in an attempt to gain Success.

In the final analysis, the essence of NFT is the creation of artists. Whether it is a single work or a series of mass-produced works, it is the creativity and expression of the artists themselves.

The success of the community avatar model will undoubtedly allow more investors to see opportunities. When the security of the blind box NFT cannot be guaranteed, it is very easy for investors to lose money by following the trend. There is only one Crypto Punks, only one Bored Ape Yacht Club, and only one Pudgy Penguins.

For developers, phenomenal works are meant to make more people pay attention to the NFT field, and cannot be a reference target for you to follow the venture and speculate. For collectors, one cannot focus too much on social attributes and appreciation space while ignoring artistic value and aesthetic orientation. A really good NFT project is always based on the needs of the public’s aesthetics, not the aesthetics of Twitter leaders.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/is-the-nft-blind-box-really-safe-within-a-week/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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