Doodles’ Genesis Box’s floor price plunges 80%, here’s why! Going from a floor price of 1 ETH to 0.2 ETH in less than 2 months, the community has been starting to get worried with Doodles’ Genesis Box NFTs continuous decline.
Almost two months since they were first airdropped and revealed to holders, Doodles’ Genesis Box NFTs have dropped dramatically in their floor price going from a price of 1 ETH on July 1st, to only 0.2 ETH now at the time of writing.
Although it caused massive excitement and buzz in the Doodles community when it was first announced and revealed, the Genesis Box NFTs have been seeing nothing but a pure negative decline in their floor price, now down 80%, due to lack of communication and updates from the Doodles team.
Doodles Genesis Box drop highlights how behind the OGs in NFTs are
0.5 ETH , 24k pieces, down over 50%
Straight negative price action since mint
Zero actual value delivered to holders in a consistent way.
SS flipped this Meta over the same time period with a near 4-5x
— ReadyPlayerH (@readyplayerh) August 23, 2022
What Is The Genesis Box
The Genesis Box was introduced earlier this year during the NFT NYC Doodles conference where the team explains that the 24,000 Genesis Box NFTs are basically the initial set of accessories that will later on be able to be used to customize Doodles 2 NFTs.
Although there are a total of 24,000 Genesis Box NFTs, around 4,000 of those NFTs were able to be minted early to Doodles holders that attended the NFT NYC event in real life. The other 20,000 Genesis Box NFTs were then puton sale in a “bucket auction”.
Why The Genesis Box Plummeted
One of the biggest reasons why the Doodles collection as a whole, including the Dooplicator NFTs and Genesis Box NFTs have been falling in both trading volume and floor price recently may be due to the lack of communication from the Doodles team.
Just earlier this month the team gained a lot of criticism from both their holders as well as the NFT community in general due to their complete lack of updates and communication, not having tweeted anything from the Doodles’ Twitter account since a month ago.
jus 6 weeks ago doodles sold boxes of digital wearables for unreleased collection doodles 2 – total of 12K eth at .508 eth per
Today these boxes are 65% down in eth
Insult to injury the team running doodles hasn't even bothered to post a tweet or rt the entire month of August pic.twitter.com/ncEtCLDzVy
— King BlackBored 🏴☠️👑 (@KingBlackBored) August 16, 2022
With transparancy being one of the most valued things in an NFT collection, it’s understandable that many in the community have been selling their Genesis Box NFTs due to the unclear nature of the team at the moment.