After a big launch last week. Anime-inspired avatar project MekaVerse is losing value amid claims of data leaks and potential wrongdoing.
MekaVerse is one of the most successful NFT collectibles recently released. It generated more than $60 million in sales in a 24-hour period last week. But the initial release wasn’t the subject of controversy. And potential allegations of fraud have surfaced ever since.
MekaVerse, a collection of 8,888 randomly generated profile pictures on Ethereum, was launched on October 7. NFT owners are not immediately aware of which images they purchased. When users try their luck like trading card packs to win especially rare and valuable images. Prior to the launch, the undisclosed MekaVerse NFTs had an average selling price of above 7.1 ETH, or around $25,000 at the time, so buyers shouldn’t know what they’re buying. There have been a number of allegations on social media that say some buyers may have early access to the metadata. or data that describes the characteristics of each NFT image. Such information can be used to purchase rare NFTs that are invisible.
In a tweet thread by Twitter user MOLOTOV alleging that the MekaVerse release was “scammed” by one of the developers on the Wyb0 project from Miinded Studio being able to purchase one of the rarest NFTs.
MOLOTOV’s tweets suggest that developers exchange insider information. And it wasn’t the only allegation tweeted about the project. In another thread, Twitter user Otto Suwen mentioned a case where a single wallet holder scored several rare MekaVerse NFTs on undisclosed purchases. This could be due to the leaked information. He added, “There are a lot of questionable purchases. Now we know why.”
on thursday The team addressed the allegations in an announcement post via the Discord server. The disclosure process includes a custom Python script to aid randomness. use a private server not on the blockchain to complete the random process.
“It allows us to safely randomize everything on our side. This was done only to avoid security issues. and to have something clear and controllable,” the team wrote to avoid the risk of leaks or cheating. Our team kept it secret until the last second of the reveal day, we did a final randomization before the reveal to ensure there were no leaks and that everything was distributed clearly, fairly and randomly.”
In the same announcement post, the creators of MekaVerse revealed plans to roll out additional free NFTs to its holders, including a “Meka-Sword” that can be used in the proposed fighting game. Like the robot, the “Meka-Bot” is similar to the popular Bored Ape Yacht Club approach, which has provided additional NFTs to its holders in recent months.
Among these allegations, the cheapest NFT price for MekaVerse has dropped sharply in the past few days. As mentioned, NFTs were trading above 7 ETH each prior to the disclosure, while the cheapest MekaVerse NFTs on OpenSea as of this writing are below 2 ETH (around $7,700). Generated over $130 million in secondary trading volume to date per CryptoSlam data.
In addition to allegations of fraud and other complaints surrounding the launch window. Some buyers have criticized random images of MekaVerse mechs inspired by classic Japanese anime such as “Mobile Suit Gundam.” In some cases, the difference between the Ethereum-based NFT images is due to the alternating colors. little in the small details
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