Members of the Pixel Vault group are elevating considerations and points concerning the challenge’s growth and the illiquid token, $PUNKS. Well-known NFT influencer Nathanhead.eth, took to Twitter this week, sharing a picture of his $PUNKS tokens and the way he can’t swap them resulting from zero liquidity. Many customers rushed to additionally query the way forward for the challenge within the feedback.
What’s Pixel Vault?
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Pixel Vault is a web3 media firm that focuses on growing narratives and tales to raise crypto belongings in numerous methods. They’re the creators of the extremely common PUNKS Comics, PV MintPass, MetaHero Identities, and others.
What’s extra, they had been a part of a novel partnership between PUNKS Comedian, Bored Ape Yacht Membership, GMoney, and Adidas. Final yr was big for NFTs, and Pixel Vault was a significant a part of the success. The web3 firm noticed its NFTs make practically 100,00 ETH.
Pixel Vault, like many different tasks within the house, has seen the value of its numerous NFT collections decline. Due to this, many are actually questioning the challenge’s longevity.
The Tweet by @Nathanhead.eth stated, “What hurts is I spent effectively over half a yr staking two ‘Punks Comedian #1’s, watching their worth fall over time, to seek out out the $PUNKS token I used to be incomes from staking is completely illiquid”.
Hope for the longer term
Though many replies to the tweets above additionally questioned the challenge’s future, some provided an alternate viewpoint. One person identified the current information a few Rarible customized Pixel Vault market and different plans for the longer term.
Lastly, it’s unsure what’s going to occur within the long-term. Nevertheless, the zero liquidity on $PUNKS will definitely want addressing within the weeks and months forward.
The journalist is a writer and digital nomad. Loves thinking, learning, and writing about all things Web3, particularly its impact on major creative industries.