NFTs

Pixelmon NFT – Is Pixelmon Another NFT Scam?

2 Mins read

Welcome to bulliscoming, Pixelmon NFT is an NFT project that has been trending on Twitter recently; many controversies over Pixelmon NFT project. But is this controversy a healthy one? Unfortunately, No!

Pixelmon NFT happened to be an NFT project that shouldn’t be considered a legit NFT project as the investors have been lamenting over the poor quality of art that was delivered as opposed to what the team promised.

Furthermore, after the launch of Pixelmon NFT, it has plummeted drastically as a result of poor quality.

Let’s check out what this NFT project promised to deliver compared to what was delivered, and also the investor’s inputs.

What Is Pixelmon NFT?

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Pixelmon claimed to be the first AAA game in the metaverse. According to their project introduction, their mission is to create the largest and highest quality game the NFT space has ever seen.

The aim is to build a virtual metaverse where you can play with friends, battle and train Pixelmon, trade items, decorate your home, and customize your virtual character.

Is Pixelmon NFT Another NFT Scam?

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It’s not ideal to say it’s another scam project or a legit NFT project but when we put the investor’s and followers’ feelings about the art into consideration, we could say it is one of a kind dubious NFT project.

The first collection of Pixelmon NFT that was named “Pixelmon Generation 1” contains 7,750 NFTs, was announced early this year and promised to deliver concept art NFTs as the game is not ready yet. This collection sold out on February 7th via a dutch auction. The starting price was set at 3 ETH (around $9,500 during mint) and lowered every ten minutes.

According to a recent report, the long-awaited reveal of the Pixelmon NFT collection isn’t what people expected. Over the past two days, Twitter has exploded as users saw their Pixelmon NFTs for the first time. It is safe to say that the majority of people were not impressed. Especially considering this collection has substantial backing and raised over $70 million to build the project.

Looking into this report, Pixelmon NFT has raised over $70 million but still, yet, they were unable to deliver pure quality artwork which makes the investors feel disappointed. Hence, the price of the NFT on the OpenSea marketplace has plummeted drastically.

Many people have been optimistic about this NFT project as it was able to raise over $70 million within a few days.

Related: Cryptosis NFT – Lana Rhoades Made Away With Investors Fund

According to NFTevening, Twitter users are calling the project a scam, suggesting that the artwork is fraudulent. Furthermore, @NFTEthics and others are looking at how this happened and exploring the project in detail to find out the truth.

Indeed, @NFTgoodguy first raised issues with the project in early February, but it seems that people turned blind eyes to his post. 

However, the Pixelmon team has recently raised concern over this and they have promised to enhance the quality of the NFT with a $2 million fund 

Conclusion

As so many fraudulent or dubious NFT projects are launched daily, NFT investors should be careful on any NFT project they will invest in.

To know a legit NFT project that could stand the test of time and won’t make you lose your hard-earned money, it’s crucial to confirm if the team is doxxed and also make sure that they have a product that will assure the rarity of the NFT.

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About author
Samson Olatinwo is a creative content creator, a young fellow that derives passion from creating insightful content about cryptocurrency and blockchain technology. A cryptocurrency analyst, trader & investor. samsonolatinwo3@gmail.com
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