Coinbase released the first part of their BAYC-featuring movie. Despite the hype leading up to the trilogy animations, the crypto and NFT community had very mixed reactions on its release.
The Degen Trilogy Part One
On Tuesday, Coinbase released the first chapter of their long-awaited animated trilogy movie titled “The Degen Trilogy.” The five-minute film, titled “RUN THE CHAIN,” featured a number of Bored Ape Yacht Club (BAYC) NFTs as well as the ApeCoin cryptocurrency
THE DEGEN TRILOGY: PART ONE
⛓️RUN THE CHAIN⛓️
Here's a first look at what we've been building with the community 👀📽️ pic.twitter.com/RSV6McnMlw
— Coinbase (@coinbase) July 26, 2022
This trilogy is described by Coinbase to be an “interactive” 3 part film, with other BAYC holders being able to include their own BAYC NFTs into the films through registering themselves onto the exchange’s NFT marketplace.
Community’s Mixed Reaction
Despite the high-quality animation, many in the NFT community actually stated their dislike for the movie, claiming it to be “cringe” and horribly written 5-minute movie.
Many in the community pointed out a number of things wrong with Coinbase releasing this movie, like the script being cringe-worthy, the plot being confusing, and no one really understanding what the general message of the movie is.
This movie also seemed to have come at the wort time possible, with many in the community pointing out that not too long ago, Coinbase laid off more than 1,000 of their employees and despite this, they are able to release this extremely high-quality and expensive looking animation.
I like the part when Coinbase put out a video praising “degening” a week after news broke that insider trading was happening inside the company.
— Aubrey Strobel (@aubreystrobel) July 27, 2022
Aside from that, the bad timing of this movie release also comes just days after an ex-Coinbase manager was charged for alleged insider trading and the exchange was first announced to be investigated by the SEC.