https://pbs.twimg.com/media/FMe6RjVWYAolVTY?format=jpg&name=medium
https://web3isgoinggreat.com/?id=2022-02-25-3
The Pixelmon project promised an ambitious roadmap including a Pokémon-like game where the pixelized Pokémon could be caught and traded, a land project, and rewards to buyers of their "Generation 1" Pixelmon. The 3D pixelized Pokémon on their flashy website and on social media certainly looked promising to the buyers who sunk a total of $70 million into the project. Those buyers, who spent 3ETH per mint (~$9,300), were excited to unveil their "fully modeled 3D character[s] that you can interact with". However, when they "hatched" their Pixelmon, buyers were greeted with some truly terrible models, if they were lucky enough to have a model at all—some unveiled just an empty patch of grass, and others found their models appearing partway in the ground.
Although the project lead wrote on the Discord that they had "made a horrible mistake" but that they would "completely revamp and redesign" the NFTs, the project appeared to be a cash grab. On the night of the reveal, 1,000 ETH ($2.8 million) had already been transferred out of the project and split among various addresses. One of the recipients who received 400 ETH ($1.1 million) immediately went on a shopping spree, buying various big-ticket NFTs with their windfall.
They received garbage money and could've cashed it out for 1.1 million dollars of real money and instead went off to buy more garbage money?
Not only that, but as they exchanged fake internet money for fake internet pictures, they were also able to pump a bunch of carbon into the atmosphere, because that's what we need right now.
Probably to raise the price of the NFTs, apparently open sea is like 4 people trading NFTs to each other for higher and higher prices just to make it seem like these things are actually worth something.