ABSTRACT WAS THE TEST.
Luca Netz asked the community to believe.
People farmed XP.
People spent money.
People built.
People stayed loyal.
And now?
Abstract is shutting down.
XP = nothing.
And the next move is:
“Focus on Pudgy Penguins.”
Remember this when the next Pudgy narrative starts.
Don’t confuse a new narrative with a new promise.
Because if Abstract can be abandoned, Pudgy holders should be asking one simple question:
“What happens when this narrative stops making money?”
Trust once lost is very expensive to rebuild.
@AbstractChain @pudgypenguins @LucaNetz
Elitcpu retweeted
Abstract is falling off a cliff, and I’m worried it might never climb back up.
This past year on Abstract has been terrible on pretty much every level. I could write 100 pages about everything that went wrong, but I’ll try to keep it simple.
Let’s quickly recap what the community got these past months:
• Barely any updates to the Portal, their flagship product...
• Little to no progress on the wider onchain ecosystem.
• Native streaming removed.
• Almost 0 communication from the team.
• Metrics propped up by the team’s own games.
• An All-Star badge.
• No real trading updates.
• XP inflation like we’ve never seen before.
But what worries me most is what could happen next.
Abstract relied so much on gaming that it stopped giving the rest of the ecosystem enough attention. NFTs, DeFi, trading, other dapps...
Now it looks like OCH/MoG, Gigaverse, Tollan and Cambria could shift more, or even all, of their attention to Robinhood. (Which would leave us with Moody Madness/Archives to carry the chain…)
These are some of the main reasons people still use Abstract. If the games go elsewhere and their users follow, what’s left to keep people here?
Coming back from that would be near impossible. I’d give it a 1% chance, and you probably have to be in denial to still believe it can happen.
Well, I’m in denial.
I still think Abstract could make a full reset and get some market share back. There’s still that 1% chance, but they need to grab it and do something fast before it turns into 0%.
A TGE can be one of the most lucrative events for a project, and I’m pretty sure the team wants it to happen just as much as the community does.
So give people something to look forward to and a reason to stick around.
Be more open about what’s happening behind the scenes. Talk about new hires, upcoming updates and what is actually slowing everything down.
Share the plan for the next few months and where you want Abstract to be in a year or two. People shouldn’t have to guess where the chain is going.
And give Abstract a face. Think Vlad or CZ. Someone who shows up, talks to the community and gives people the feeling that someone is actually there trying to make this work.
But we need more than silence while watching the ecosystem slowly leave and die.
This is not me fudding or saying I don’t believe in Abstract anymore.
If that were the case, I wouldn’t even bother posting this.
Today i hit Obsidian tier on @AbstractChain, i should probably be happy and feel accomplished, but honestly, i don’t.
Abstract has been really important to me, both for my growth in web3 and as a creator, and i’ll always be grateful to the green chain, but ngl, the last year hasn’t been great here, obviously the market plays a huge role in that, sometimes things go well, sometimes they don’t, that’s just how it is.
What actually worries me is seeing dev after dev leave the Abstract team, especially in the case of 0xBeans, co-founder of Frame, aka Abstract, the message this sends is just not a good one, o hate saying this, but right now the main reasons i still use Abstract are MoG/OCH and Cambria, there are other great dapps, i’m not denying that, but a lot of the ecosystem feels like it’s mostly built around farming rather than actually keeping users around.
Users have been drained, and the team, probably without realizing it, has supported builders who ended up leaving the chain at the first opportunity after extracting hundreds of thousands, sometimes millions, from users, Roachracing, Myriad, Multiplier, YGG, Duper and many others got badges, attention and support from the team, only to eventually bridge out, i don’t even want to make a whole list of all the promises that were made and never delivered, but there have been quite a few.
That being said, Abstract genuinely changed the way people interact with web3, especially normies. AGW and the Portal are perfect examples of that, i still think Abstract has a ton of potential and there’s obviously a lot that can still be built here, maybe if there had been proper DeFi from day one, things could have played out differently and Abstract could have attracted a much broader user base, but it didn’t happen and there’s no point looking back.
I just hope the team can give us some good signals about what’s coming in the near future, i’m not expecting everything to magically get fixed overnight, i’d just like to understand what the actual plan is and where the chain is heading.
Either way, it’s been a fun journey, and I’ll keep using Cambria and MoG like I always have, i’d use them even if they were on ApeChain or Cardano.
All i want is some clarity from the team about where Abstract is actually going next.
Why is Pudgy Penguins letting its NFT lose value? 🐧
Something interesting is happening with Pudgy Penguins.
The NFT floor is barely moving.
Meanwhile, solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv is attracting significantly more liquidity, attention and speculation.
And that raises a very simple question:
Is the Pudgy Penguins ecosystem slowly shifting away from the NFT itself?
The NFT is still one of the strongest brands in crypto. Pudgy Penguins has expanded far beyond NFTs toys, retail distribution, Pudgy World and a much broader consumer brand.
But here's the problem:
Brand growth ≠ NFT price growth.
The value created by the brand doesn't automatically flow back into the 8,888 NFTs.
In fact, the market appears to be increasingly treating solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv as the liquid way to bet on the Pudgy Penguins brand.
That's a completely different dynamic.
An NFT is illiquid, expensive and limited to 8,888 pieces.
solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv is liquid, divisible and accessible to basically anyone.
So if the ecosystem grows...
where does the market expect the value to accrue?
To the NFT holders?
Or to the token?
That's the question.
And there is another interesting detail:
Pudgy Penguins' licensing model can generate revenue for NFT holders when their specific Penguins appear on products, while solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv holders don't receive that same direct revenue stream.
So the situation isn't simply:
NFT = bad
Token = good
It's more complicated.
The NFT gives you ownership of a scarce piece of the brand.
solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv gives you liquid exposure to the entire ecosystem.
And right now, the market seems much more interested in the second narrative.
Maybe Pudgy Penguins isn't abandoning its NFTs.
Maybe it's building something where the NFT becomes the brand layer and PENGU becomes the liquidity layer.
But if that's the direction...
NFT holders should eventually ask one very important question:
Where is the value created by the brand actually supposed to end up?
Because if the brand keeps growing while the NFT floor barely moves, the market may already be giving us its answer. 🐧
NFT or solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv?
That might be the real Pudgy Penguins debate.
@LucaNetz @pudgypenguins @LilPudgys
Opened ZADDR #1671.
Rank 1,630 of 2,800.
Every face is public. Every owner is not. zaddr.studio/token/1671
The whole collection is public. The holders aren't. Whitelist is open.
Nice to not meet you.
2,800 faces on @Zcash . Every face is public. Every owner isn't.
Whitelist is open. Apply early.
zaddr.net/apply
Peak Run: #2
Total Power: #6
6 days left.
#1 is the only target. 👀
@TollanUniverse @AbstractChain
I just entered the Blokyz raffle with 10 entries.
mint.blokyz.com
Elitcpu retweeted
Hear me out.
OpenSea should drop $SEA with the Anvil AMM and make it an NFT as well.
Oh yeah, and the NFT wallet gets a share of the platform fees.
Demand for both the NFT/token and the 'CLOCK IN' would be insane, potentially making it the most expensive NFT in circulation.
And honestly, it just makes sense for OpenSea to have an NFT that represents a super-elite layer of ownership and identity within the platform.
@OxSimpleFarmer really changed NFTs forever.
