In the ever-evolving world of NFTs, every new move by a project is met with a mix of excitement and skepticism. Nakamigos, a notable player in the NFT space, recently revealed its latest project Nakamigos CLOAKS NFTs. While this announcement generated significant buzz, it also raised concerns within the community.
*Update: FREE for holders*
— Nakamigos (@Nakamigos) September 14, 2023
Details about CLOAKS by Nakamigos
Nakamigos is gearing up to introduce 20,000 brand-new ‘game-ready’ CLOAKS NFTs on September 21. The release will kick off with a 3-hour free mint for existing Nakamigos NFT holders at 12 pm, followed by a public sale at 4 pm, with a price tag of 0.05 ETH (approximately $80).
To qualify for the free mint, collectors must possess an original Nakamigos NFT in their wallet during a snapshot scheduled for 11:59 pm EST on September 19.
The collection itself is a diverse array of 24x24px pixelated characters, primarily in humanoid form. This time, however, the shrouded figures will boast game-like attributes, including strength, agility, and magic, along with over 200 traits that enhance their abilities.
Nakamigos plans to base most of these NFTs on human characters, featuring Archers, Warriors, Knights, Sorceresses, and Wizards. Rare items will introduce entities like panthers, wolves, cheetahs, yin-yangs, Komodo dragons, and bats. Additionally, each item will belong to one of seven clans: Water, Sky, Earth, Steel, Crystal, Fire, and Darkness.
Cynicism in the Nakamigos Community
Despite the excitement surrounding the new NFT release, not everyone in the Nakamigos community shares the same enthusiasm. Some collectors are expressing concerns that this move could lead to a catastrophic implosion akin to the recent Azuki debacle.
Adding fuel to the fire, Nakamigos initially announced a mint price of 0.05 ETH for everyone, including existing NFT holders. This decision didn’t sit well with the community, and it sparked accusations of attempting to boost transaction volume and, subsequently, royalty payments. Critics pointed to the future snapshot date as evidence supporting this theory.
As a result of these concerns, the original Nakamigos NFT collection experienced a significant drop in its floor price. It plummeted from approximately 0.38 ETH to 0.2 ETH, stabilizing at around 0.28 ETH for the lowest-priced NFT.
CLOAKS by Nakamigos: A Risky Gamble or a Bold Leap?
Nakamigos’ decision to introduce CLOAKS NFTs is undeniably bold. While it has garnered excitement, it has also stirred skepticism within the community. The change in pricing strategy and accusations of capitalizing on transaction volume have cast a shadow over this highly-anticipated release.
As the NFT world watches closely, only time will tell whether Nakamigos’ CLOAKS NFTs will prove to be a game-changer or a risky gamble. Stay tuned for updates as this story unfolds.