Is this popular NFT project simply corrupt or is it just great marketing?
(Taken from Patreon members group post on 4th August 2021)
Let’s get straight into this. Yesterday we spotted no less than nine NFT’s from The Doge Pound enter the wallet and I thought “wow I bet that was an expensive investment…”
but no, they were all given for FREE! After digging a bit further you can see that there is an individual account whose twitter is ********* who currently owns 886 Doge Pound NFT’s.
They did own a lot more though and they were all minted 17 days ago. Then starting from 16 days ago they have been handing them out to a ton of influential people (**** now being on that list) for FREE.
There have been a few occasional sales in there too but with this now mass of influencers pumping up the price and promoting The Doge Pound (to the masses) the 800+ NFT’s that this account still owns and the freebies that each of the influencers have been gifted are all worth a fortune.
Now this is obviously a shrewd tactic and has clearly worked in favour of a lot of very influential people.
Are there enough ‘regular’ people out there to actually buy at these prices so that any profit is actually realised or is this all profit on paper only?
How would the average person that is dipping their toe into NFT’s feel if they knew that influencers are potentially promoting NFT projects without always actually having bought into them themselves?
I’m sure this method of promotion works extremely well and it certainly wouldn’t be the first time influencers are used to pump the price of something. That’s definitely not frowned upon, but…
Is it creating a fake hype? will it have a lasting impact on the NFT world? which is already a world which could be seen as a game for the rich to suck up the average person’s spare cash.
PS these are genuine questions rather than a statement of belief in either side. What do you think?
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