The floor price plummeted by more than 65%, what happened to EtherPOAP?
With the Web3 Hong Kong Conference approaching, and the new Hong Kong cryptocurrency policy that may be announced in June, the market is extremely sensitive to Hong Kong concept projects. However, on April 9, the market showed that the floor price of the EtherPOAP OG NFT series with Hong Kong concept attributes plummeted by more than 65% in two days, from over 1.8 ETH to 0.61 ETH.
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The new rules let OG do coolies to pull people's heads
The EtherPOAP team released the casting rules for the second-generation NFT (EtherARK PASS) on April 7. According to the official information, OG NFT holders can get rewards by inviting others to mint EtherARK PASS with a price of up to 0.1 ETH. But what has caused controversy in the community is that the rewards received by OG holders and invited 2nd generation NFT minters are severely unevenly distributed.
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The importance of the community to the project
We have been immersed in Web3 for many years, and we know the importance of the community to the project. From the earliest DeFi, to the NFT that has been booming for two years, and even the so-called Web3 project that only entered the mainstream recognition last year, the community is the first.
DeFi's token airdrop from Uniswap for community governance is now a common reward for OG; NFT's community cold start, and the community OG's white list has long been the top priority of the project; represented by StepN The Web3 project has repeatedly emphasized the importance of the early community, and the identification and reward of the early community OG is one of the keys to the success of the Web3 project.
However, EtherPOAP’s practice of abandoning OG users caused a nearly 20-fold difference in rewards between users who hold 1 EtherPOAP OG and 1 EtherARK PASS. Supporter Hashkey, the secondary market also experienced violent fluctuations of more than half.
At present, the EtherPOAP official also expressed on social media that the rules will be re-formulated. I don’t know if the rewards for OG will be optimized, but is the community’s confidence in the project party still there?
