The much awaited release of the HAPEBEAST project is underway. Unluckily, things are not going well. For one, the floor price took a big hit from 8.5 ETH ($25,800). It is presently down to 3.93 ETH ($11,900).
HAPE Prime by HAPEBEAST is a BAYC-inspired series. HAPE was an initial success, getting about 280,000 Twitter followers and 450,000 Discord users in less than one month, with a floor asset growth of 3700%.
The major lawbreaker is the art. Actually, Crypto Twitter is full of memes that compare the sneak peek and reveal to catfishing. For some reasons, the project simply did not fit in with the hype. However, others think that this is similar to the Mekaverse. After severe criticism of the art, the value of NFTs has also declined, and many of them are much lower than their original price.
Amazingly, @DiscoverXnft somehow predicted how things would turn out. Hours before the release, he tweeted: “The HapeBeast is revealed today. That means you have less than 24 hours to sell for 7.7 Ethereum ($30,000) to cut the floor in half. Actually, the floor price fell after the release.
Nevertheless, there are NFT owners who feel that it is normal for a floor to fall after being released. The floor shows the expected value of all assets before the release. However, the floor after release shows the minimum desired asset value. Take a look at Mekaverse, the price dropped after the release, but it closed in 2021 with a sale of 500 ETH, which shows that a project could come back.
