On the 8th of June, blockchain forensic expert ZachXBT called out a rugged NFT project on Twitter. The PlayersOnlyNFT project was founded by some NBA and MLB athletes who failed to deliver to their community members.
PlayersOnlyNFT was launched via the Doge Pound Launchpad and promoted as an NFT for sports fans. The initial supply was 10,000 tokens before it was decreased to 4,456. The team promised that all NFT holders would win sports items, and about $1.4 million was invested in the project shortly after.
Notably, Dennis Smith Jr and Michael Carter Willy were enthusiastic about hyping the PlayersOnlyNFT project shortly before it was launched. The project promised utility for the NFTs like Zoom calls from NBA players, signed jerseys, game tickets, fun trips, and many more. However, the project failed to live up to its hype.
NBA Players Fail to Deliver
Shortly after its launch, community members were left unattended. NFT holders were not rewarded with their winning items, and the sports stars failed to attend special fan meetups.
One NFT holder particularly mentioned that he had won a founders jersey, but he received a t-shirt with a fake signature when delivered. Many others in the community lamented that they had not received anything. The team gave several excuses on the Discord server as to why the rewards were being delayed, and gradually, moderators started to quit.
Community members faced more disappointments when Brooks Brown and Austin Grieshober announced in the first week of May that they would quit PlayersOnlyNFT. However, he stated that Michael Carter Willy and a few other athletes will still be part of the project.
After a long period of staleness in the community, the team finally dropped an update on the 9th of June. Sadly, the announcement only led to further let-down. The team revealed they would be closing the NFT community at the end of the week, stating that they find it impossible to satisfy the needs of everyone.
Now that the community will be shut down, any hopes of fans ever receiving their perks from the project have been crushed.