Why Is the Ether NFT Drop so Controversial?<\/span><\/h2>\nOn July 2nd, the Ether NFT collection ended its heavily-criticized whitelist mint. The drop consisted of 5,555 NFTs, and there still are 3,678 collectibles available for the July 9th public mint.<\/p>\n
However, the controversy around the project started way before that. Ether NFT was founded in the fall of 2022 when anonymous founders Viii and CValley revealed the first details. Viii is a successful NFT artist who worked with RTFKT, and CValley is a web3 collector and Azuki holder. Meanwhile, the software engineer Cygaar (another trusted figure in the crypto space) did the smart contracts<\/p>\n
In terms of design, the first sneak peek revealed anime-style detailed artwork. However, CValley also announced back in October 2022 that the mint price would be 1 ETH. This is a very high price for a new NFT project\u2019s public sale, considering that other popular collections, such as Invisible Friends, sold for as low as 0.25 ETH.<\/p>\n
As soon as they received backlash, the team lowered the mint price to 0.65 ETH. In addition, 1,750 assets were kept for whitelisted users without specific application rules.<\/p>\n
Fast-forward to June 30th, the whitelist mint had started with a lower demand than expected. In a last-minute decision, Ether NFT surprisingly announced they would reduce their 10k NFT supply to 5,555 collectibles.<\/p>\n
Now that the whitelist mint has also ended, are 3,555 NFTs left for public sale. At the time of writing, there\u2019s a fixed price of 0.65 ETH per digital asset. Meanwhile, the collectibles sold via whitelist mint have a 0.6488 ETH floor price on OpenSea.<\/p>\nThe team revealed its mint supply reduction right after the whitelist mint ended. Credit: Twitter<\/figcaption><\/figure>\nWhat\u2019s The NFT Project All About?<\/span><\/h2>\nSo far, the founding team didn\u2019t reveal much about the utility of these collectibles. However, we know five 1:1 digital characters will emerge from this mint\u2019s NFT capsules. Accordingly, these characters will unlock the Ether universe and its utility in a new ecosystem.<\/p>\n
To conclude, Ether NFT has spectacular artwork based on the trailers they had given this past year. This fact, along with their powerful founding team, might offer long-term potential. Considering that the public sale happens this week, collectors should look into the project this month after reveal.<\/p>\n
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