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The NFTEarth project, an L2 NFT Marketplace on the Arbitrum network, is seeking a 195,000 ARB grant to enhance UX and incentivize trading of unique collections, but faces mixed community reactions due to allegations of misconduct and misappropriation of funds. Despite the innovative approach of introducing on-chain games and a gamified system, concerns about compliance with funding rules and potential harm to the community's trust and reputation persist.
The discussion primarily revolves around the NFTEarth project, an L2 NFT Marketplace and protocol on the Arbitrum network. The project aims to incentivize the trading of unique collections and increase NFT liquidity across Arbitrum. The team has requested a grant of 195,000 ARB to build infrastructure for UX similar to mainnet on Arbitrum and incentivize campaigns for trading and creating non-fungible collections1. The project has also introduced a new voting incentive mechanism, xNFTE, based on the veBAL system, and has launched two on-chain games, Fortune and a raffle game2,3,10,11,12,14. However, the discussion also involves serious allegations of misconduct and misappropriation of funds by NFTEarth, L2DAO, and LFGrow, particularly by a key player, Weston Nelson21,24,34.
The community reaction is mixed. While some users are excited about the project and its potential to disrupt the NFT market, there are concerns about the project's compliance with funding rules and potential for manipulation2,3,5,10,11,12,13,14,15,17,18. The allegations of misconduct and misappropriation of funds have led to skepticism and concern within the community, with some members demanding accountability and evidence for the claims made16,21,24,34,36,39,40.
The NFTEarth project's innovative approach to incentivizing user activity, including the introduction of on-chain games and a gamified system rewarding on-chain actions, is seen as a potential game-changer2,3,10,11,12,14. The project's commitment to adhering to funding rules and its proactive response to community concerns also reflect positively on its management7,15. The community's vigilance and willingness to hold projects and individuals accountable ensure transparency and integrity within the community21,24,34,36,39,40.
There are concerns about the project's compliance with funding rules, specifically regarding the use of ARB incentives for operational costs5. The allegations of misconduct and misappropriation of funds, if true, undermine trust in the community and can potentially harm the reputation of the projects involved21,24,34. The accusations also raise concerns about the transparency and integrity of grant allocation and token distribution processes21,24,34.
Posted 2 months ago
Last reply 2 months ago
Summary updated 24 days ago
Last updated 03/12 08:01