Edison Chen, Jay Chou NFT Projects Prove Celebrity Backing ...

For Edison Chen fans though, their experience was far from inspiring. On the back of Chinese New Year, the Hong Kong actor, singer, rapper, ... CryptoNews EdisonChen,JayChouNFTProjectsProveCelebrityBackingIsn’tEnough 18thFebruary2022 RedNVLPE/PhantaBear Inthecurrentfervourforallthingscryptoandblockchain,itfeelslikeeverycelebrityandtheirunclesaredroppingNFTs.Withalegionoffansalreadyattheirdisposal,it’salmostano-brainertofarmoutNFTstothem.However,fanswhohaveaninsatiableappetiteforcontentfromtheiridols,stillexpectalevelofqualityfromcelebrityendorsement. WhenJayChoudroppedhisPhantaBearNFTslastmonth,fans’expectationswerecertainlymatched–10,000NFTssoldoutinunder40minutes,fetchingtheTaiwanesepopstaraneasyUS$10million. ForEdisonChenfansthough,theirexperiencewasfarfrominspiring.OnthebackofChineseNewYear,theHongKongactor,singer,rapper,fashiondesignerandentrepreneurlaunchedhisRedNVLPENFTproject. OnTuesday15February,8,888NFTsacrosseightcollectionsopenedforpresale,withpublicsalelaunchingatnoonthefollowingday. However,buyersbegancomplainingthattheystillhadnotyetreceivedtheirNFTs12hoursafterpurchase. Althoughthemintingprocessesingeneralcanbeerroneous,projectsonthescaleofthosebackedbycelebritiesareoftenheldtohigheraccountability. RedNVLPEalsodrewscrutinybymanuallytransferringNFTstobuyers’walletsratherthanusingconventionalsmartcontracts. “Afteryoumintedonthewebsite,yourNFTswillbemintedonthe2426COSaccount,andwillbetransferredtoyou”,agroupchatmoderatorwroteinRedNVLPE’sDiscordchannelinresponsetobuyers’inquiries,referringtothenameofChen’sweb3platform. “Itmighttake10minutes,itmighttakeonehour[or]fourhoursbutdon’tworrytheNFTwillbesenttoyou!”. NotonlydidsomebuyersnotreceivetheirNFTsinatimelyfashion,butothersreceivedmorethantheysignedupfor. “Assomeofyouareaware,lastnight,asmallnumberofluckyaccountswereaccidentallyairdroppedafreeNFT”,anotherprojectmoderatorsaidonDiscordonWednesday,citingan“internalissue”inthemintingprocessthatwas“quicklyresolved”. Whilsttheblunderiscertainlyfortunateonanindividualbuyerlevel,butthemistakecoulddilutethevalueoftheNFTsfromamarketperspective. Chen,whohasover3millionfollowersonInstagram,drew44,440memberstohisproject’sDiscordchannel.However,saleshavebeenreportedlyweakerthanexpectedwithaveragepricesformostcollectionshavefallen. WhilstcelebrityendorsementintheNFTspacecancertainreaprewards,it’scertainlynoguaranteeofsuccessinthespace. ViewthispostonInstagramApostsharedbyEdisonChen(@edcee3000) WrittenbyBreadNewsTeam MoreIn... #EdisonChen #JayChou #music #NFTs #PhantaBear ShareArticle Facebook Tweet LinkedIn Mail CopyLink LatestNews Uncategorized 30thMarch2022 BreadisDead.PrepareforBlockhead CryptoNews 29thMarch2022 Technician’sTake:ETCandBTCTrackSidewiseTogetherWithUpwardsPotential CryptoNews 29thMarch2022 Crypto.comSetsSightsonRegionalExpansion Related CryptoNews 29thMarch2022 Technician’sTake:ETCandBTCTrackSidewiseTogetherWithUpwardsPotential CryptoNews 29thMarch2022 Crypto.comSetsSightsonRegionalExpansion CryptoNews 29thMarch2022 MoreCryptoScrutinyAheadasJapanClosesRussiaSanctionsLoophole Insights,   Freshly Baked. GetnewsandinsightsontheAsianmarketsthatmatter. EmailAddress Subscribe ViewourpastNewsletter