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threezero · 02-15-2022, 12:41 AM

I think you and Edison both is scratching their head right now. He is on discord trying to save this whole mess and he sounds just as confuse as you lol.

1) he didn’t understand the market dynamic and how and why people search for and buy a collection. He invited 8 artist to collaboration on his single collection. I have wonder how he was gonna manage to make this one cohesive collection. Turns out his solution is to split them all up in separate collections. One artist even got her work split into 5 different collection. It is impossible to tell these were all Edison’s drop. And a lack of trading volumn due to people attention being split 12 ways mean most of these collection essentially have a price but zero trading volumn. Not all is a complete failure thou, there are two collection that are currently trading above mint (ironically one of them is dr.woo with just 888 pieces). But during the minting process you are automatically assign 1/12 collection. Which mean right after mint people basically already know if they have a valuable one or not. It leaves them zero desire to try and gamble for rarity in reveal. Those that are unlucky enough to mint these basically useless collection now have zero motivation to keep these any longer. Proceed to try and dump it on market to try and recoup some cost. The more people that does, the more people undercuts and start the race to zero and they all try to get out before it literally goes to zero.

2) technical issue with minting process. He entrust a platform that nobody has heard of to do the minting. Resulting in whitelisted over minting/unable to mint/not even receiving the mint. This space is especially ruthless to those that don’t understand the technology. And once minting has gotten to the stage that it has right now (which is just the presale, public sale mint not even sell out at this point) there is no saving it as you cannot just ask for people’s NFT back and redo everything.

That’s just two of the major mistake, has nothing to do with marketing or hype. Both of which might have actually lead to more success had he understand the fundamental basic of how the technology work and how the market dynamic works (what move supply and demand in this market). Edison actually did a great job hyping this up and did a great job with marketing, had he been selling merch or CD or whatever irl stuff. It would have been an success. You can’t really understand this market without active participation and putting down one’s bias of the market. You can tell Edison has never purchase an NFT in his live and probably thought this market is easy looking at it from the outside.

No gonna lie he deserve this failure. And it’s great that the space is laying the smack down on him.

02-15-2022, 12:41 AM	#4053
threezero OMGWTFBBQ is a common word I say everyday Join Date: Jan 2005 Location: Vancouver Posts: 5,185 Thanked 1,379 Times in 578 Posts Failed 96 Times in 53 Posts Member's Picture Albums	I think you and Edison both is scratching their head right now. He is on discord trying to save this whole mess and he sounds just as confuse as you lol. 1) he didn’t understand the market dynamic and how and why people search for and buy a collection. He invited 8 artist to collaboration on his single collection. I have wonder how he was gonna manage to make this one cohesive collection. Turns out his solution is to split them all up in separate collections. One artist even got her work split into 5 different collection. It is impossible to tell these were all Edison’s drop. And a lack of trading volumn due to people attention being split 12 ways mean most of these collection essentially have a price but zero trading volumn. Not all is a complete failure thou, there are two collection that are currently trading above mint (ironically one of them is dr.woo with just 888 pieces). But during the minting process you are automatically assign 1/12 collection. Which mean right after mint people basically already know if they have a valuable one or not. It leaves them zero desire to try and gamble for rarity in reveal. Those that are unlucky enough to mint these basically useless collection now have zero motivation to keep these any longer. Proceed to try and dump it on market to try and recoup some cost. The more people that does, the more people undercuts and start the race to zero and they all try to get out before it literally goes to zero. 2) technical issue with minting process. He entrust a platform that nobody has heard of to do the minting. Resulting in whitelisted over minting/unable to mint/not even receiving the mint. This space is especially ruthless to those that don’t understand the technology. And once minting has gotten to the stage that it has right now (which is just the presale, public sale mint not even sell out at this point) there is no saving it as you cannot just ask for people’s NFT back and redo everything. That’s just two of the major mistake, has nothing to do with marketing or hype. Both of which might have actually lead to more success had he understand the fundamental basic of how the technology work and how the market dynamic works (what move supply and demand in this market). Edison actually did a great job hyping this up and did a great job with marketing, had he been selling merch or CD or whatever irl stuff. It would have been an success. You can’t really understand this market without active participation and putting down one’s bias of the market. You can tell Edison has never purchase an NFT in his live and probably thought this market is easy looking at it from the outside. No gonna lie he deserve this failure. And it’s great that the space is laying the smack down on him.