Checking in on the Neopets Metaverse: Cheapest Neopets NFT currently going for less than a cup of Coffee.
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At the peak of the NFT craze in November 2021, Neopets released its official Neopets NFT collection. At the time the highly controversial NFT”s went for 3 solana, which was about 450$ at the time. Now, about 9 months later, you can find them for as cheap as 3,39$. How did this happen and is there a future for the Neopets Metaverse?
Last year Neopets officially announced to work together with some cryptofirms (2 out of 3 owned by China based Neopets parent NetDragon) to introduce the beloved nostalgic Neopets franchise to the metaverse. Immediately fans lashed out against this idea, causing huge protests on the forums and multiple black out days on which users refused to visit the website.
Many patrons of Neopets also announced that they would cancel their Neopets Premium subscription. Neopets Premium along with display ads made up less than 1% of Net Dragon’s revenue, which translates to about 5 million $.
On top of that the Neopets Developers team was caught displaying homophobia and racism, while aso stealing artwork from Neopets fansite Dress To Impress, enraging the dwindling community even more. For the record, in 2020 Neopets had about 1.5 million active users, in 2021 this has become 0.96 million active users.
Despite all this backlash Neopets continued to defend the Neopets Metaverse idea and eventually the project launched, the launch was a disaster with many people losing the money they spent on those worthless ripped off jpegs by not minting the NFT’s on time.
From 450$ to 3.39$
If you bought your Neopets NFT at the launch, you would have paid about 3 solana, which at the time was about 450$. If you had waited a couple of months and bought it from someone on OpenSea you would have paid about 54$ but as of today the most expensive Neopets NFT you can find goes for a whopping 9,90$.
On top of that, the Solana currency that you had to use to even buy the NFT’s is currently worth about 33$ which is a lot different from the 150$ that it used to be at the time of the launch.
Luckily pretty much any Neopian was against this lunacy from day 1, vowing to never give a cent to this controversial project and they were right to do so as they would have lost 440$ on it.
And yet the Neopets Metaverse continues…
Despite this massive crash, the Neopets Metaverse will be sponsoring NFT.NYC an awardshow for NFT’s which is wild. Can you imagine showing up to an award show when your project has tanked to the price of a cup of coffee?
We haven’t heard anything about the Neopets Meta road map as of recently, in the third quarter of 2022 the team is supposed to launch tokens for the game and in 2023 the alpha version of the game should launch.
However, one could estimate that if the Neopets Metaverse team hasn’t sold off their Solana before the current ongoing global crypto crash the launch might be delayed or never happen as Solana, the currency they chose to get paid in has lost 80% of its value.
Oh well, given Neopets shaky history with crypto we’re not expecting anything to be created or at least not something that will last, let us hope the entire project gets canned and Neopets pours its complete attention on actually fixing the site that we actually care about.
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