Stick-figure collection mfers had been making a lot of noise in the NFT market towards the end of February. On OpenSea—the largest digital marketplace— this collection had been ranking on the volume front on almost a daily basis for days together. In fact, mfers NFTs had also been able to stay ahead of OG collections like BAYC, MAYC, Cool Cats, and CryptoPunks.
However, now, things have started going haywire. Per data from Dune Analytics, four days back, on 6 June, the floor price of the collection was at a local high of 2.48 ETH. Bringing to light the latest state of affairs, Colin Wu tweeted,
“… the trading volume of mfers rose 684% in the past 24 hours to $810,000, and the floor price fell to 1.67E, a decrease of 29%.”
The fall in floor price coupled with a rise in volume points toward the fact that collection holders have been dumping their tokens. Well, they can’t be blamed too, for they have a reason why they’re doing so.
So, what exactly triggered the dump?
On Thursday, the mfers founder—Sartoshi—released a blog outlining the “next era” of the project. The same would essentially be marketed by his exit.
A couple of crucial changes would be taking place. To begin with, the mfers contract would go to the community, along with the royalty share. Sartoshi said,
the mfers smart contract is being transferred to the mfers community via the unofficial mfers multi-sig wallet, which will be receiving the largest share (50%) of the mfers creator royalty going forward for the community to do whatever it wants.
He added,
mfers can do with the funds whatever mfers want.
Sartoshi then went on to highlight how his final artwork piece was would have an open edition minting on Thursday, 9 June (6/9), and sometime during the mint, he’d “vanish forever.”
He said,
“this is the end of sartoshi… mfers jus gettin started“
At press time on Friday, his Twitter handle was non-existent, and Colin Wu brought to l right that it was already deleted.