WAX Do Not Understand What NFTs Are

By aaaaaaaaaa | aaaaa | 27 Mar 2021

On Friday this week, the Leonard Nimoy Digital collectibles were released on the Worldwide Asset eXchange (WAX).


The initial offerings were 'Standard Packs' with 10 'shards' and 'Mega Packs' with 30 'shards', priced at $10 and $25 respectively. There were to be 3000 of each pack minted.

After the release, pack opening was enabled at 13:00 PST, and people started opening their packs. There were 50 different shards which could be combined to produce cards. Unfortunately, when opening these packs immediately after release, people were discovering that they were only receiving shards from the first 11 rather than the whole 50. Pack opening and crafting was shut while the issue was rectified and we awaited a solution.

The proposed solution was that people who had opened packs before 13:15 would receive a 'bonus' pack which only included shards 12-50, ie. the ones they were not able to receive in their original packs. Anyone who opened after 13:15 would receive nothing, nor would anyone who did not open their packs at all.


To sum up what this action meant for those who had bought into the project:

  • There were now approximately 1000 more packs on the market, with the respective 10 or 30 shards each in them, than had initially been promised.
  • This inordinately benefited those who had opened the packs prior to the arbitrary deadline they set.
  • Those who opened after the deadline not only had the results of a broken pack, but also received zero compensation for it.
  • Those who received these bonus packs could sell and were selling them on the marketplace, which was distorting the price of the original packs.
  • We now have a situation where pre-release promises re maximum mints are not being kept.

I make no bones with the fact that the initial problem with broken packs occurred, they're still learning and there are going to be issues along the way. That being said, there is absolutely no coming back from the fact that they minted more than the originally promised NFTs.

The entire promise of NFTs is immutable mint limits. If this can be changed at will then we are dealing with nothing more than the trade of infinitely reproducible pretty pictures.

The WAX staff have confirmed in communication that they are satisfied with the solution they offered given the circumstances. It is clear from this communication that they either do not understand what NFTs are or are wilfully deceiving their community that such a solution should ever be acceptable in the face of this problem.

Following on from this incident, the only conclusion one can draw is that WAX is a dead project, and it is not worthy of the trust of its community. I sincerely hope for those who choose to continue their involvement in projects on the WAX network that they do not suffer the consequences of further ill-informed decisions, but given their seeming indifference to the consequences of the actions they have taken I would not count on it.

n.b. I want to address the fact that I'm particularly disappointed that this issue occurred on a project relating to the deceased Leonard Nimoy. I'm a big Star Trek fan and I am saddened that I've had to raise this issue in this way, but given how it has been handled I see no other way forwards. I hope that, despite these problems, his estate are able to achieve the charitable goals they set out on in helping to develop this project.

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