Ether, the NFT project that seemed to check off every box of what not to do, has finally launched despite a series of mishaps and controversies. From picking a name that won’t rank in search engines to launching amid market chaos, Ether seemed determined to make every mistake in the book. Not to mention its anonymous founders and an overpriced NFT collection, the project faced numerous obstacles from the start.
The trouble for Ether began when it was announced in Autumn 2022 that they would be launching 10,000 NFTs at the seemingly outrageous price of 1 ETH each. However, after facing immediate backlash, the team decided to reduce the price to 0.65 ETH. This move did little to quell the doubts surrounding the project.
Then, on June 30, Ether launched its White List mint, coinciding with the spectacular implosion of fellow anime NFTs, Azuki. This lack of timing, coupled with the team’s decision to reduce the token supply from 10,000 to 5,555, further raised questions about the viability of Ether’s ambitious NFT collection. A week later, on July 9, the remaining unsold 3,678 NFTs were made available for public mint, but the response was met with silence.
The project hit a roadblock when, with the mint only partially complete and the OpenSea floor price dropping below the mint price, Ether decided to pause the project. This left collectors and investors in a state of limbo, uncertain of the project’s future.
It is worth noting that Ether emerged in a completely different landscape from when it was first conceived. In 2021, launching an NFT project required little thought or planning, as the market was booming and opportunities seemed endless. However, as the market evolved and risks became more apparent, any missteps became magnified, and projects could lose their momentum easily.
Despite its stunning visuals and potential to make a mark in NFT history, Ether’s story now serves as a cautionary tale for those venturing into the ever-evolving world of Web3. The mistakes made by Ether highlight the importance of careful planning, market awareness, and adaptability in the NFT space.
In conclusion, Ether’s journey has been riddled with challenges and missteps, from a poorly executed launch strategy to questionable decision-making. The project’s struggles serve as a reminder that success in the NFT space requires more than just a unique concept and eye-catching visuals. It demands a thorough understanding of the market, careful planning, and the ability to adapt to changing circumstances. While mistakes are inevitable, learning from them and pivoting accordingly can ensure a greater chance of success in the unpredictable world of NFTs.
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In the end, Ether’s tumultuous journey serves as a valuable lesson for both creators and investors in the NFT space. It’s a reminder that success requires more than just a catchy name and pretty visuals—it demands strategic planning, market awareness, and adaptability to navigate the ever-changing landscape of Web3.
