Several months ago we celebrated really amazing launch of Pudgy Penguins token! One of the greatest airdrop in crypto! It was a clear success!!! During this even the team and community worked on Abstract chain - the place where NFTs will get a new fresh air to grow and unite all communities and teams in creating something HUGE! Of course it gave us a signal that people who involved in process of creating Abs - really know what to do and how. Hype around Abs what so big, everyone wanted to join one of projects and get the feel of success.

One month after event the time has come: testnet was done and Abstract goes mainnet! Dozen of NFT projects were granted or came on their feet to launch on Abs. Community were excited: thousands of seekers joined different NFT projects and starting to push discord roles, WLs and raffles, playing pokers to get advantage on MINTS. Many teams launched presales to grant OG and early supporters.

And MINTS began... First red flags comes after Presale announcements. The prises and NFT supply in many projects were to HIGH. It wasn`t a problem for users BUT the price difference between presale-wl-public sales were so small that u can just wait until Magin Eden launch and buy it cheaper than on sales.

Several teams started pushing communities to buy their NFT and promised benefits for it. Here I must to tell the names: @AbstractCats and @FrostedFrenzy.

FROSTED FRENZY (Magic Eden)

Let`s have a quick highlights about them. @FrostedFrenzy is a game where NFT holders can communicate and spend time together, team gave presale roles for Abs Elite Chads and did WL raffles. The presale price was 130$ and community quickly bought all the NFTs. After presale there was a launch on ME for WLs and Public. When sale started the price were x3 times cheaper than on Presale! Could you imagine it? Presalers were f***ed. Of course it was rude and community reacted on it. Some did not want to buy NFTs even have a WL, presalers were in shock, public was confused like Hamlets "to buy or not to buy". What the team did? They cut the supply once but the sale was on the same place - nobody buy. Then the team decided to "benefit" presalers - to present them 1 more free project nft! Great! The price that day was x2 cheaper than on sale but let we remember - on presale it was overpaid!

Team told take time to revel. Few days past and the wind was in discord. Community tried to find the way of what to do, team left the discord (no posts on X, comments or activities). Day before this post they came back with apologizies and showed a video on Abs stream where we saw 1 element of game that was made maybe for 5-10 minutes and called it a future project (the game). Still no revel, no discord activity or something. The result is RUG.

ABSTRACT CATS (Magic Eden)

The second team is AbstractCats: supply 8888 (they cut it twice or three times during sale), price were not high 30$, OG WL the same as FFrenzy, good X account and activity in discord. The sale on ME started and people starting to buy but the huge supply as expected wasn’t taken. Cut once, second cut - the price on ME was the same as sale. People minted but asking team to cut more or shill the collection (collab with other project). After the sale team promised to benefit community (the first holders who has special treat on their nfts will get a prizes) and they left discord and community alone. No posts, no answers, nfts were revealed and dumped. After several days the mod came to discord and gave 30 more project nfts for some users and that’s all. Rug, clear rug.

If clearly takl about AbstractCats - people trusted the project and everyone had a chance to sell nft near its mint price. Some even sold mythics for 300-500$. But the result is the same - RUG! Team do nothing to change situation.

THE RESULT!

What is next? Many of projects that started on Abs - lost their mint prices next day after sale (bad crypto market helps too) and many of them - lost the communities. In these days new projects are launching, some of them even now (before launch) could go the same RUG way. I think it will be TheMob - detective nft sale - will see it in a few days (presale price in extremely high, 55/150 OG presale nfts are still avaliable).

You can name other projects if u have time to write about them. So what is wrong with Abstract chain? I guess and it`s only my mind - the team chose wrong way of creating chain community. They invited people from penguin community and someone were asked to launch on Abs. And nothing more... no special rules for projects or control. No support with retweeting them or communicating. Just gave them the space on Abs streaming and launch. Of course most teams just wanted to start the sale and sell all the supply. Communities rugged one by one. DYOR before minting something, maybe it will change in future. Special thanks for those who are building and not rugging. BB