At 0:30 on March 29th, Beijing time, the Ash Chapter Two: Metamorphosis* (hereinafter referred to as ASH2), an NFT project participated by the famous encryption artist PAK, was open for minting (Mint). Netizens paid high gas but still failed to pay; after the sale was completed, its secondary market was locked by smart contracts and cannot be traded so far, and some holders even placed orders at 0ETH price to express their dissatisfaction.
The funny thing is that YugaLabs released a new round of BAYC and MAYC peripherals (clothes, hats, blankets, etc.) last night, because the peripherals were sold out last year and the price rose sharply, and holders also rushed to buy them immediately , I just ran into the Gas War triggered by ASH2, and complained endlessly: How can I participate in the Gas War even when I buy a piece of clothing?
Related NFT casting platform Manifold Studio tweeted this morning Beijing time, PAK new NFT project casting failure may be related to the skyrocketing gas caused by the robot attack, and plans to refund the gas fee for the damaged users.
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Screenshots of community participants
This ASH2 project (Introduction URLimage description
Also among the 29 artists was Paris Hilton (also a snapped-up hit)
Given that Paks Merge series of digital art works released in December last year sold for a record-breaking $92 million, this ASH2 project (especially Paks works) has also attracted the attention of a large number of NFT enthusiasts.
Regarding the wonders of Paks previous works, please refer to Odailys previous introduction article: After watching the artist Pak sold $15 million cube NFT, I said know how to play》《US$92 million broke the NFT transaction record. Paks Merge turned out to be popular art?》
The innovative mechanism of ASH2 this time is that each of the 7,500 collectibles will be randomly transformed into a digital artwork NFT. Collectors can also transform one of the five NFTs by combining them, destroying the other four at the same time.
This mechanism reduces the total supply and pushes up the value of each collection in disguise. Additionally, holders of deformed NFTs can burn their digital assets in exchange for ASH tokens.
However, the ASH2 project did not bring the desired results. Many netizens lost a lot of money because of Gas War, but failed to cast it successfully. Some participants paid gas twice and still got nothing.
Moreover, the purchase of this NFT must be paid in ASH (50 ASH before the sale is about 0.32 ETH), but the price of ASH plummeted after the sale was completed. Everyone not only has to pay high Gas fees but also bears the loss of ASH price plummet. Many buyers The family called for a refund.
Regarding this incident, Pak said on Twitter that it is the users personal choice to see the huge gas fee and still participate. Everyone has been fully informed of the risks, and reminded everyone that Manifold will deal with follow-up issues. Additionally, the Metamorphosis secondary market will keep the NFTs locked until things are resolved.
Many people expressed incomprehension to this behavior, since a lot of money was spent on casting, but they could not be sold in the secondary market. Many holders posted ultra-low prices to express their dissatisfaction.
In this regard, Pak also gave an explanation: We do not want tokens controlled by bots to exploit the market (loophole). We have developed an action plan.
Therefore, this incident also gives some inspiration to the project party. Before launching the project, it is necessary to evaluate and test the actual Gas Limit value range, optimize Gas consumption, and avoid similar incidents.
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At around 16:30 on March 30th, Beijing time, Manifold Studio, an NFT casting platform, tweeted that the Gas fee for the new Pak project has been refunded, totaling more than 497.13 ETH, worth $1,690,615.72. On the morning of the same day, Manifold Studio tweeted that due to the failure of the casting of ASH2, the NFT project led by Pak, the gas fee incurred due to miscalculation will be refunded. The refund process will start immediately and the new v2 contract is expected to be deployed within the next 24 hours with no action required from the user. Manifold Studio also reminds users: Do not fill out any forms or visit any websites to obtain refunds or new tokens.
