The Ether NFT project announced a surprising last-minute change in mint supply, raising eyebrows among collectors. Let’s take a look at what happened with the hyped NFT mint.
- The Ether NFT collection faced controversy due to its high initial mint price of 1 ETH and the reduction of the total supply from 10k to 5,555 NFTs.
- The project was founded by anonymous figures Viii, CValley, and Cygaar, with anime-style artwork and a mysterious utility for the collectibles.
- Despite the controversy, Ether NFT might be one of the best-designed anime NFTs so it’s worth keeping an eye out for.
Why is the Ether NFT Drop so Controversial?
On 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.
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
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’s public sale, considering that other popular collections, such as Invisible Friends, sold for as low as 0.25 ETH.
As soon as they received backlash, the team lowered the mint price to 0.65 ETH. In addition, the team kept 1,750 for whitelisted users without specific application rules.
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.
Now that the whitelist mint has ended, there are 3,555 NFTs left for public sale. At the time of writing, there’s 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.
What’s the NFT Project About?
So far, the founding team has not revealed much about the utility of these collectibles. However, we know five 1:1 digital characters will emerge from this mint’s NFT capsules. Accordingly, these characters will unlock the Ether universe and its utility in a new ecosystem.
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.