The 'Qing Dynasty's legacy' sent coins in groups, and did they offer 'rejuvenation pill' or 'new sickle'?

Author: flowie, ChainCatcher

In the cold winter of crypto, many veteran projects that have experienced the bull and bear cycle have announced the issuance of tokens. OpenSea launches $SEA tokens, and Doodles will also issue $DOOD tokens on Solana, following NFT giants such as Fat Penguin and Azuki. Even the privacy project, which was once glorious but now quiet, has begun to try to find breakthroughs by issuing tokens. For example, Aztec Network, which has been favored by top venture capital investors such as a16z and Paradigm, has also set up a foundation, heralding the possibility of token issuance (TGE).

Can the belated token issuance win community recognition?

Fat Penguin's token issuance once caused a surge in NFT floor price due to its high yield expectations, and the token market value once exceeded US$6 billion. However, other imitators failed to replicate their success, and their NFTs and tokens were far less popular than Fat Penguin.

Azuki's ANIME token has recovered, but its growth rate is limited. Doodles, after hinting that the coin issuance, the floor price briefly rose and then fell. OpenSea’s coin issuance plan has also caused mixed reviews in the community.

OpenSea, once valued at $13 billion, chose to issue tokens instead of the previous IPO after the NFT market cooled down. Encryption KOL @BroLenoAus criticized it as an "dying struggle" of OpenSea and said it would short after getting an airdrop.

The private beta phase of OpenSea 2.0 (OS2) is limited to Gemesis NFT holders, which also angered some community members. However, @ElvisPoldark believes that new features of OS2, such as one-stop NFT and token trading services, may help OpenSea compete with its competitors.

At present, the details of the token issuance of Doodles and OpenSea have not been fully announced, and it is still unknown whether they can obtain community support.

From NFT to the privacy track, "issuing coins" has become the choice for old projects to extend their lives?

In the general environment of lack of innovation and market liquidity, "issuing coins" seems to have become a strategy for old projects to seek breakthroughs. However, these former leading projects are facing a crisis of trust and business bottlenecks.

OpenSea's NFT trading volume has shrunk significantly and its market share has also declined significantly. Doodles' floor prices are also well below their peak. Although Aztec Network raised more than 100 million yuan, it has made slow progress after the transformation and community expectations have also declined.

With the market's attention turning to new projects and new narratives, it is a huge challenge to whether these old projects can turn the world by issuing coins. Whether they can rebuild community trust and successfully issue tokens will be a focus of attention for some time to come.

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