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- An awkward NFT art collection has created havoc among the Tweeps.
- The Azurbala collection is a part of the bigger ecosystem by Tally Labs.
- NFT market was still struggling to find recovery following the crypto winter.
Will Azurbala CreatorsLearn From Their Mistakes?
As the NFT market is struggling following the plunge beginning from February 2022, a new digital collection trying to make it to the market was met with a backlash. Digital collectible Azurbala, inspired by the famous Bored Apes Yacht Club (BAYC), is an element of a larger Tally Labs ecosystem.
They posted a video to announce the launch but the collection’s awkward characters were rejected by the Tweeps. They called the reptilian avatars, a work of amateurs. The team has apologized to the community as they made them feel horrible and promised to learn from their mistakes. The collection’s price was slashed by half from 0.52 ETH to 0.26 ETH after the Tweet went live.
The NFT market is going through a downturn, as the sector’s volume has plunged by over 99% from 17.1 Billion USD in January 2022 to 526.7 Million in September 2022. Apart from this, the digital asset sector is trying to recover from the crypto winter since the collapse of Terra UST stablecoin.
Now the creators have promised the users that they will redo the project, will it be helpful in reviving the sector? It is difficult for a single project to carry the entire market on a single go, but a successful initiative can give spark to a chain reaction to help the market rise from the turmoil.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
