The NFT Friends series is now in jeopardy after announcing a “pause” and deleting its Twitter account – sparking rumors that it was a scam project. The NFT’s first drop in 2022 raised roughly $5 million. Friendswithyou, an art duo from Los Angeles, USA, who developed the NFT project, also made their Twitter account private after the above announcement.
Less than a year after the Christie’s auction at Opensea and the $5 million drop, friends are having a hard time… pic.twitter.com/XpNgj9YOQa
— Mike Dudas (@mdudas) February 21, 2023
“Within a year after Christie’s dropped $5M at OpenSea auction, Friendsies pulled out…”
The project behind the popular series, which features the odd profile picture, said on Twitter Monday night that it was pausing development on the series, explaining that market conditions were the catalyst for the series hiatus.
“We very much wanted to create a true digital companion for the future. However, market volatility and challenges made it difficult for this project to grow in a way that we can be proud of.”
According to the Friendsies website, the project has set a goal of minting 10,000 Friends and is partnering with auction house Christie’s to sell early access to nine collectibles on the OpenSea secondary market by March 2022 to help homeowners enthusiastic Collectors mint the rarest Friends.
Immediately after that tweet, users who asked questions in the comments found their accounts blocked, and Friendsies deleted their Twitter accounts shortly after. Netizens also pointed to Web3 Rug Radio host Farokh and the great artist Jen Stark — both of whom hyped the series early on on Twitter.
According to OpenSea, the collection currently has a reserve price of 0.011 ETH, or about $18, with a trading volume of 3,774 ETH, or about $6.3 million. As the minting of the collectible began, its Dutch auction began with a starting bid of 3.33 ETH, which was roughly $12,000 per token at the time.
Friendsies was ambitious from the start — according to a post on Discord, the collection was designed to give owners access to a monetized game. It also laid out plans for the upcoming Community Vault and laid out a blueprint for expanding the brand’s IP – unfortunately, none of these came to fruition.
plus $5.3 million @friendsies_ai Earlier today, Hard Carpet remained unclear how the funds were spent.
There have been no announcements since September, no community treasures, and no P2E games.
The team blamed “market volatility” for their reasoning. pic.twitter.com/FM8ytum4Ur
— ZachXBT (@zachxbt) February 21, 2023
“With Friendsies’ $5.3 million carpet haul earlier today, it’s unclear how that money was spent.
No announcements, no crowdfunding, and no P2E games since September.
The group blamed “market volatility” as the reason.
- NFT outperforms ETH, behaves like a “quality asset”
- NFT breakdown: The NFT conference was canceled due to lack of interest – the former CEO of Amazon launched the “NFT platform”
According to Coindesk