![]() ![]() ![]() He says that he decided to leave the management of mfers to the community in the spirit of decentralization. ![]() Gm /TxcqzUmUBK- sartoshi JanuHitting turbulenceīut according to Sartoshi, the truth of the situation was far different. Nevertheless, when he left his project in the hands of its collectors, many claimed he had orchestrated a rug pull. Sartoshi promised collectors no roadmaps or hidden incentives. With mfers, the anonymous artist repurposed the popular “ are you winning, son?” meme in a crypto-centric way as commentary on the ups and downs of the NFT market. Although the influential project experienced what appeared to be a sudden death in the summer of 2022, it was eventually resurrected by the very same person who created and then killed it - Sartoshi.īefore mfers, Sartoshi gained a sizeable following by sharing market insights, memes, and general NFT information on Twitter. The mfers collection, launched in November 2021, continues to be a unique case study. To learn from past failures and better understand the potential ways in which projects - and collectors - can mitigate risk, we looked at three projects that died (or nearly did): mfers, the Metroverse, and Friendsies. No matter how established the artists are or how well-regarded their work, project death can come for anyone. On the other hand, events like February’s demise of the Friendsies collection can mean the inevitable spread of fear throughout the metaverse.Īlthough the NFT space enjoyed a significant market uptick in 2023, the fall of the once highly regarded Friendsies brought about a bit of a reality check: There are no guarantees in the world of non-fungibles. Oftentimes, this can be a positive thing, like Jack Butcher’s Checks changing the trajectory of open editions. And all it takes is just one tiny event to set off a chain reaction throughout the NFT space. From the fall of FTX to Elon Musk’s Twitter takeover, it has become clear that market volatility isn’t the only thing to be worried about. The Web3 community knows that situations can turn on a dime. ![]()
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