In Brief:
- In the Second Act Pak has given Two options to NFT collectors.
- Collectors now have to choose between a Page or a Poet.
- To give words to the Poet, collectors need to feed them with pages.
Pak has revealed the second Act of his latest NFT project LostPoets. Earlier, Pak had already provided a roadmap of the project. However, no one knew how the project was going to move forward.
In the Second act, Pak has provided two options, you can either convert your page into a Poet or you can keep it as it is.
What happens when NFT pages of LostPoets are exchanged?
For each page, a unique Poet is revealed. All these Poets that emerge will have hidden rarities and will come to light in the future. As it is ambiguous how many Poets are created through the exchange, the rarity of Poets is allied to it and cannot be determined right now.
Now as no one likes a mute Poet, A poet needs poetry, and words form poetry. “ After all, who could understand poetry that isn’t in words? ” As a result, mute Poets will remain unnamed.
To give words to your Poet you need to feed pages to your poet. Moreover, every time you feed a poet, you can also change its name.
What happens if NFT pages of LostPoets are kept?
First, as the price of pages has increased from the price when a page was minted, it is already a profitable investment. For those who don’t know, you can burn your pages and receive ASH tokens in exchange. This is possible, thanks to Pak who earlier created a decentralized app through which you can burn NFTs and gain ASH tokens. You can also burn many other NFTs, but Pak NFTs will gain more value.
You can also resale your Pages directly on a marketplace. And simply Move on with profits.
The Real Game Has Just Started
With so many options available, Pak has confused people about what they should do. They are doubting their actions. Collectors don’t know what to do to utilize proper profits. Whether they should hold to pages or convert them to Poets.
People with only one NFT page are in a great dilemma, as they can convert it into only one Poet NFT which will remain mute. And as Pak said Who wants a mute poet. Judging by that, they may be decreasing their value by converting into Poets.
People with more pages don’t know what to do. They have no idea how many pages should be converted into Poets and use the rest to feed them. In a review on Twitter, people expressed interest in converting 20-30% of pages into poets.
Pak also added fuel to the fire when he stated in a Twitter Space that “The other option will be better”. As in reference to the Market, which tends to do the opposite of your actions. With people confused about their actions, they can’t decide whether they have chosen the right course. The other option always looks more lucrative.
He also provided a hint saying that “my Twitter profile picture holds a secret.” It’s a similar painting as seen in any other poet NFT. However, it’s an image of a child poet, which seems to be rare among other poets. Also the Image entire is in black and white while most of the poets do have some colors in it.
Current Scenario of the Project.
At present, 17516 NFT pages have been converted into poets. And OpenSea shows a trading volume of 16500 ETH. The average price of Poets has reached above 1 ETH. Even though everyone is confused about the project, it has achieved huge success. The great prospect of the game is that it’s entirely executed on Ethereum in a fully decentralized manner.
Also read: ACT III of LostPoets NFT Project is Out Now
The price of the poets is higher than the price of the pages. However, we all know that those pages alone were responsible for gaining $70 Million in 2 Hours.
