Let’s unpack why a project founder would insist to “let it go lower”. why is mogged up Frank telling the community to let DeGods NFTs go lower? at the surface it’s drawing a line in the sand. essentially saying im not here to pump your bags. im going to do me and we are going to build what we are going to build, take it or leave it. respectable. but what about the holders, doesn’t he care about the holders losing money? that’s where this gets more interesting to me. ofc we know Frank wants more than anything for his holders to win. in fact as a large holder of DeGods & y00ts himself he is fudding his own bags. why would someone do this? i didn’t ask him, but i will share my Thursday morning cup of coffee analysis on why this is happening. when DeGods launched on eth they did so in partnership with blur. they promoted blur and they were featured on the front page of blur marketplace. it was a win win deal at the time. since then a lot has changed. the point incentives have manipulated the blur ecosystem into a farming war. every notable collection is being pumped and dumped by point farmers, couple that with blend loans gone wrong and you literally have a collapse of the eth NFT ecosystem in an incentive structure gone haywire. so now, not only do project founders get burned on royalties the holders remain in a constant state of floor price manipulation, caught in the crossfire of PvP point farming. Farmers took a special interest in DeGods, holding an uncomfortable amount of the collection. As a project founder why would you continue to support that? you don’t get royalties and your holders are being toyed with. they get excited thinking the tokens are making a turn around when really it was a farmer sweeping and loading up the next dump. this is all visible and obvious on chain. Do you want your community to get pumped and dumped on? i believe the team is coming up the next interesting experiences and in the meantime Frank wants to accomplish 2 things: 1. Reset expectations 2. Chase out the farmers farmers can get fvcked. go manipulate another community. we will send this sh!t to zero and make sure you get wrecked if you keep trying to farm this collection. the real ones will stay. to me DeGods to Zero is a representation of those 2 goals. my T shirt is on the way. GM
@faxx_eth All make sense. My idea is that if you let the people choose if stay on Solana or on eth, a big part of people prefer to go back to Solana, fp on Solana would probably be higher since you are less exposed to blur farmer and probably also the fp on eth would rise
@faxx_eth mr. faxx you are simply one of the best accounts on CT
@faxx_eth One must also keep in mind that all those loyal holders who are keeping vibes FIWB in the discord are about to get a 2-10K + flush of capital from $W. Just saying, slowly but surely Gods are getting into the right hands