I was surfing through transactions on the Solana blockchain yesterday, and I noticed a large volume moving on Froots NFTs and decided to check things out.
Froots NFTs sold out fast, and the floor started running up. The mint price started at 2.75 Sol on July 21st. When I saw the project and could get in yesterday, the floor was sitting at 4. Last night and today, the Floor has been floating around 5.5 to 6.5.
What are Froots?
Froots is a collection of 7,777 fruit NFTs.
Froots, also known as ‘The Vibers of Solana’ is a community driven project of cute froots that aims to spread good vibes and provide its holders with great opportunities, through their different ventures. With Froots, we want to experiment and set a precedent for what can be done between Web2, IRL businesses and Web3. While our main goal is to develop multiple subsidiaries in various industries ranging from F&B, Merch, Books,etc… We will always put our community first and make sure that we’re always innovating and keeping it fun.Froots
Let’s Breakdown the Froots NFT Project
The project appears to be a fast-release project. A short roadmap section briefly discovers the project and utilities of the NFTs. Froots announced that only 3 of the 6 NFT utilities had been released the other 3 are still a surprise.
What is Driving the Popularity?
It’s all about the community. The Froots has a fantastic community helping to push this project to the top of Solana.
The Road Map
Froots is a multi-venture brand where holders of the genesis NFT collection will be benefiting from each ventures of the Froots umbrella, through our rev-share program. The first subsidiary will be a juices/smoothies company, and the 2nd one is a merch service venture to help projects develop high quality merch that suits their needs and brand image. We have a lot more in stock but we’d rather overdeliver than overpromise, however we can tell you that the future of Froots will include: Merch, 1/1 Charity Auctions, Web 2 + Web 3 partnerships, Lore related projects, Cute art… and VIBES!https://frootsnft.com/
Suggested Read: The Art Collective Multichain DAO by Metazens – Cryptobite
My Thoughts On Froots NFT Solana Project
I had to jump in on the rise up and make a little profit at least. I love the idea behind it and am curious to see what the other utilities will be. I will also hold at least one just to see where the project goes. They make some cool PFPs for Social Media when all else fails.
Argentine Crypto Exchange Lemon Sheds Roughly 100 Jobs, Citing Challenging Industry Conditions
Lemon had planned to deploy almost the entire amount on its expansion in Brazil. Given the current context, its move into the South American country will be “more strategic and niche,” Cavazzoli said. The exchange put plans to expand into Chile, Colombia, Ecuador, Peru and Uruguay by the end of 2022 on the back burner.
It’s time for crypto fans to stop supporting cults of personality
Many of the centralized cryptocurrency platforms that collapsed this year had something in common: a young, outspoken and cocky leader. Each gained outsized influence not by virtue of outsized intellect or talent but because of their piles of money and large Twitter followings. And each time, misplaced trust in their abilities resulted in disastrous consequences.
If crypto wants to avoid similar catastrophes in the future, it’s time for us to rearrange our leadership priorities. We need to ditch the cults of personality.
The theater of crypto on Twitter
Before FTX collapsed, founder Sam Bankman-Fried (SBF) had garnered a reputation as one of the loudest voices in the industry. He was active in the political world and frequently commented on what was happening in Web3.
But perhaps most notable was his active involvement in a myriad of Twitter feuds and spectacles. SBF first stepped into the spotlight as the successor of SushiSwap after Chef Nomi abruptly abandoned the project — a drama that played out almost entirely on Twitter’s public stage. His ensuing Twitter antics, combined with the image of unstoppable success that FTX was broadcasting far and wide, gained him more than a million followers.
But even as SBF’s influence grew, it seemed he just couldn’t resist shitposting, regularly engaging with other Twitter users who threw stones.
Indeed, SBF’s penchant for Twitter drama played an important role in exposing FTX’s insolvency. It was his recent spat with CZ that ultimately led to the run on FTX’s deposits. His attention-grabbing antics carried on through the current ordeal, culminating in a bizarre series of cryptic tweets.
The loudest voices in the room
While SBF is the latest example of an industry figure whose highly public Twitter presence led to a highly public downfall, he certainly isn’t the first. Do Kwon and Su Zu, who were both at the center of monumental collapses earlier this year, were also notorious trolls. Do Kwon infamously sent an arrogant series of tweets just before Terra’s downfall, while Su Zhu’s infamously elusive comments during the 2021 bull run didn’t age well, either.
At our company offsite this week with all the drama happening. Debating who is the bigger villain in crypto:
a) Do Kwon – $58b loss from UST & LUNA
b) SBF – $10b missing deposits in FTX
c) Su Zhu – $3.5b loss from borrowers
d) Alex Mashinsky – $2.8b missing deposits in Celsius
— Bobby Ong (@bobbyong) November 10, 2022
But, the leaders of failed platforms aren’t the only ones guilty of social media braggadocio. Binance’s CZ, after all, was just as guilty as SBF of engaging in their public Twitter feud earlier this month. Digital Currency Group’s Barry Silbert, who has been at the center of alarm related to the FTX fallout, has also garnered a reputation as a shitposter.
There are many, many more tweeters who have used online spectacle and trolling as a means of controlling the industry conversation. Think Ben Armstrong (aka “Bitboy”) and Jim Cramer, to name just a couple more. There’s a small army of them. And, even though many are purged in each bear market, their successors are increasingly turning into powerhouses too vocal and influential to ignore in the space.
Jim Cramer said that he sold all of his crypto.
Then he blamed @APompliano for “putting him in” BlockFi.
So he… lied?
Now he’s on a crusade to blame anyone he can find for his own bad decisions, even “digital finance people,” which is literally a made up term. https://t.co/NTojFohvFQ
— The Wolf Of All Streets (@scottmelker) November 18, 2022
We need to end the cults of personality
So what’s the solution? How can we better identify this personality type and use this recognition to avoid future pain?
Instead of focusing on building cults of personality, the crypto community needs to focus on platforms and leaders building products that use web3 primitives to solve problems in a manner that’s orders of magnitude better than anything we’ve experienced before. The crypto community needs to stop listening to the loudest voices in the room and start listening to the wiser, more experienced ones — even if they are sometimes quieter. And by the same token, we need builders with experience in creating real value for users to speak up more.
Ultimately, the answer lies with us and with the people that we, as an industry, choose to lionize. We need to learn how to identify and support builders building transparent, secure, high-quality applications and decentralized applications — regardless of how many followers they have.
Corey Wilton is the co-founder and CEO of Mirai Labs, the international gaming studio behind Pegaxy. A renowned speaker and play-to-earn thought leader, he began his first company within crypto in 2018, a customer support service designed to assist cryptocurrency companies with their customer service.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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