National Geographic's First NFT Launch Had Problems

When the world-famous National Geographic magazine announced the release of its first NFT collection, it received an unexpected response. The nature-focused magazine hoped that its readers would welcome NFT, mainly since it focuses mostly on animals, such as monkeys, which are very popular in the NFT world.

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The first problems started on Monday when the magazine posted an NFT picture of the Bored Ape Yacht Club on social media. The goal was to prepare their fans for the release of NFT’s Genesis-based Polygon collection. This collection features images from their top photographers, including Reuben Wu, Catch Simard, Justin Aversano, and other great photographers.

Unfortunately, things didn’t go as planned. The mere mention of NFT caused a stir on social media. Some fans referred to these NFTs as a scam, and there were even worse slurs. Many users urged the magazine to delete the post. Those who knew at least a little about NFT technology wrote that the NFT bubble had already burst.

The launch also brought with it technical problems.

Since the bulk of National Geographic’s audience has virtually no knowledge of blockchain technology, this reaction is quite understandable. Digital assets have been controversial since the beginning and have always had their fans and detractors, no matter what potential the technology holds.

In addition to criticism, National Geographic has also faced technical issues during the minting (minting) process of its NFT’s. They used a platform, Snowcrash, for the minting process that had trouble meeting customer requirements.

A Twitter user by the name of Torpedo called the effort a “complete failure” after six hours of futile stamping with nothing to show for it.

Other users pointed to the lack of interoperability with Snowcrash, meaning Nat Geo’s NFT could only be traded on that single platform. This action led to another wave of criticism.

The market situation plays a significant role in the adoption of blockchain technology. During the last bull market, NFTs came to the fore, thanks to celebrities and various personalities promoting them. This has led to great acceptance by the general public. However, many users have failed to come to terms with the technology.

Artist Ryan Hawthorne, who recently released his NFT (on the Ethereum network) through the renowned auction house Sotheby’s, got behind the Nat Geo collection and wrote. “Welcome to the comments section, where you will see many people criticizing things they don’t understand.”

Source: nftnewstoday.com