Galxedecentr

A bit of caution about @regularpunks upcoming mint "An experimental collection of robot dogs based on Punks" has recently received a lot of attention in CT, with even Beeple posting about it a few times. Everything looked like the good old degen mint from 2021 But yesterday the artist announced the mint details: 10k supply 0.0069 ETH And this immediately raised a lot of questions: Current NFT market probably won't be able to handle a 10k collection with 69 ETH raise (That's almost half of what Doodles raised from the Doopies mint for comparison) The WL distribution was even worse. The artist WL'ed his old collections, Punks, Nakamigos, and some other In total, that's more than 50k wallets with a limit of 2 per wallet. With a 2h mint window, all of this looks like a mass extraction event And as the cherry on top, there's usual pump & dump of the old collections: they ran up to 0.03 ETH and fell back to 0 right after the snap It was great opportunity for old holders to unload their bags, and not a very smart move for buyers to grab FCFS WL spots for $70 each with such OA 😁 Still launch could play out well - the market is very bored. But the 10k supply and additional "game mechanics" turn the upcoming launch from a fun degen into a potential shitshow