Firstly, I would like to apologise for the length of time it has taken to get this article together and to get the news out in regards to how you can get help with your rug pulled Underwater Club NFTs. It has been evolving a lot since my last tweet saying that help was on its way, and I wanted to get the information as accurate as possible at time of release.
What has happened to Underwater Club?
After a poor set of NFT sales for their Halloween collection, the Underwater Club developers and mods disappeared from the Discord server on or around the 31st of October 2021. There had been several issues leading up to this point within the Underwater Club community around the Art, and the association with Ape Crypto not being disclosed as a paid one by them (Ape Crypto disclosed it). The floor on their NFTs were dropping due to these factors and we think because of the poor take up from the Halloween collection they decided to pull the plug. We don’t know any of this officially as they didn’t leave any information on why they disappeared.
Hornnies and BitFins were made aware of the lack of responses in the Discord server and started investigating the situation. It is at this point that they decided to form a of developers willing to help people affected by the rug pull.
They then began gathering allies to their cause.
Who are the developers that are helping?
After Hornnies and BitFins call to arms, many developers signed on to try to fix the rug pull for unsuspecting NFT holders.
Here is a list of the current team:
BitFins, Hornnies, Beached Whales, Cryptohippoz, Mutant Crocs, Stellar Hood, Creepy Cardanos, Pixel Links Golf, OceanPals, Zi Project, CryptoRaggies, Street Arts, Brickwrld, Crypto Dognuts, Ravens and Mach 5 Girl Squad.
Also, and very importantly a mention needs to be given to Ape Crypto who has pledged to return his full fee from his involvement with Underwater Club to the process.
All these amazing developers Twitter and Discord pages will be linked below to allow you to support back those who support us as a community.
The very least we can do for this great gesture is to give them a follow and hear about what their projects have to offer.
How can I get myself registered to receive help?
You can Join New Ocean – Underwater Club Survivors Twitter, then go to their discord and finally click on the fill this form out section or use my link below to get registered for help. Remember whilst doing so to include the #—- number with your discord name if you are adding it. Here are the quick links to those:
What is the plan of action?
They have already taken a snapshot of the whole Underwater Club wallet holdings as of the 8th of November 2021.
They intend to use the snapshot to confirm the wallet given within the form and the number of NFTs in the wallet. The form will have a deadline. It is two weeks from the 8th of November snapshot. Then once the deadline has expired, Jo of the Hornnies project and Tyler of the BitFins project will look at how many wallets there are and the number of NFTs in each. Then they will determine how to best distribute the NFTs that all the amazing projects are donating to this cause to distribute to those affected that are participating in this course of action.
They want to do this so that the people who bought multiple fishes can recoup their loss as much as possible.
In all likelihood they will distribute something like this based on the number of responses:
1 Underwater Club NFT = airdrop 1 NFT
3 Underwater Club NFTs = airdrop 2 NFTs
6 Underwater Club NFTs = airdrop 3 NFTs
This model is not set in stone as they need to know the number of wallets first. But this is the main idea for transparency.
How can I support the great projects helping out?
First of all, I cannot say this enough, we always complain when a project lets us down as a community and pulls the rug, however as a community we need to be supporting the good projects that are putting huge efforts into making this a great space for us.
Who helps the developers when we decide that we’ve moved on to the latest new shiny project and forgotten about all their hard work and effort? The answer is no one.
There are a lot of new people in this Cardano space, and it is amazing to see these rug pull bail outs, however at some point people will have to realise that this is not the norm. You can’t just ape into every latest craze of NFT without doing your Due Diligence and expect someone to come along and bail you out.
Here is a list of all the developers involved and how to support them:
YouTubers, Twitter accounts, and other schillers are good sources of info but shouldn’t be the sources to base investment decisions on. They have their own agendas and in many cases are being paid to promote the NFT.
You should always do research on any Investment you intend to purchase.
Remember that with any investment you make you should never spend money that you can’t afford to lose. Any Investment specialist will also tell you that you should never keep all your eggs in one basket. Diversification of a portfolio means that you reduce the risk that all the investments will drop in price at the same time. Through diversification, investors can offset losses on some investments with gains on others.
I from the bottom of my heart would like to thank every one of the developers involved in this bail out. It has been really well organised, and I fully expect that they will provide a huge amount of help to the community.
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