NFT Mania – The Rise and Decline of the Mekaverse

Back in October, a PFP collection arrived on the scene like none that had come before it, sending the NFT community into a fit of anticipation fuelled ecstasy, as the Mekaverse juggernaut began to gain traction.

It all started with a tsunami of hype, built on the back of a massive 200k Twitter following. Social media was awash with excitement, and for a short while it was all anyone would speak of. The collection launched on October 8, to a great deal of excitement and sparking an OpenSea frenzy that saw floor prices for the still unmasked collection reaching the dizzy heights of 9 ETH.

Then, cracks started to appear in the Mekaverse battle armour. A botched reveal delayed the much-anticipated grand unveiling, and when owners finally got to gaze upon the final product, expectation turned to disappointment due to the uninspiring visuals. Despite the Mekas looking exactly like their promised content.

Now, in what could represent the final nail in the Mekaverse coffin, the project’s Discord channel has fallen victim to a major breach, with imposters posing as moderators and posting fake mint links in the announcements channel. Mekaverse has yet to disclose the extent of the damage, however, users report losing vast sums of ETH along with prized assets.

Today was supposed to be an amazing day, the day of the MekaBots reveal.

A project we have been working on with passion for months. We are devastated that our community has been attacked and have no choice but to postpone the reveal.

Here is a thread of what happened 🧵

— MekaVerse (@MekaVerse) March 23, 2022

So, what’s next for the Mekaverse? Following its steady decline, the project now sits at a miserable 0.568 floor, a shadow of its former 9 ETH glory. Despite this however, the team continues to soldier on, with the reveal of their latest spin off collection, MekaBots, just around the corner.

From the offset, with no roadmap to speak of, Mekaverse was all about hype, and mania alone will only take you so far. For a collection to truly succeed, it must rely on solid foundations, and do whatever it takes to protect that perpetual oversight, the project’s Discord.