Pixelmon's $70 Million NFT Art Reveal Is a Disaster

This is the worst NFT art reveal of all time...

Pixelmon Disaster

The art was recently revealed for a major NFT gaming project that raised $70 million. I may be wrong about this but from what I heard, the original mints cost 3 ETH each.

The revealed art was... underwhelming.

https://twitter.com/icebergy_/status/1497369309772922885/photo/1

https://twitter.com/Pentosh1/status/1497386559426818049

https://twitter.com/zachxbt/status/1497370216690503687

Then it got worse.

The CEO Lied About The Art Process

https://twitter.com/cobie/status/1497618172530278401

https://twitter.com/cobie/status/1497633922666184707

Looks like while the leader of Pixelmon, Syber, claimed to be having their "Art Team" work on these assets... there is clear evidence that at least some of these NFT art assets were made by freelancers hired on Upwork.

Given the extreme cost of these NFTs (3 ETH to mint, if that's right), the idea of outsourcing the art to Upwork is absurd.

When Will People Learn?

It still feels like many NFT projects are massively overvalued and hype can be generated without substance again and again.

I don't feel bad for investors in this project, I think you have to learn your lessons from backing dumb stuff like this. Damn though, that is a lot of money.

You can get more of my thoughts from the video.