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9dcc: A Case Study in Web3 Hype and Broken Promises
- 9dcc, a self-proclaimed 'first crypto-native luxury brand,' founded in 2022 by Gmoney, aimed to blend fashion with blockchain technology, but its journey ended in disappointment for early supporters.
- Their Admit One NFTs, initially promising exclusive privileges, did not deliver anticipated benefits over time as the brand abruptly announced its shutdown, leaving holders with depreciated digital assets.
- The introduction of the 'Black Box' raised controversy due to issues in the raffle system, censorship of critical feedback, and misleading XP rewards during drops, undermining trust in the brand.
- 9dcc's pattern of overpromising and under-delivering, coupled with a focus on gamified Web3 elements that overshadowed the luxury brand experience, alienated the community and led to its downfall.
- The brand's monetization tactics, including hidden fees for basic access and unbalanced points system within the network, further eroded trust and exposed a lack of transparency.
- Gmoney's announcement of 9dcc's closure mentioned economic challenges and premature entry into the market, but community skepticism arose as the shutdown coincided with the three-year expiration of Admit One NFT benefits.
- The closing statement by Gmoney was critiqued for its attempt to shift blame onto external factors, its failure to address internal issues and controversies, and the perceived insincerity of the redemption plan for leftover products.
- Overall, 9dcc's narrative reflects a cautionary tale of how flashy branding, vague roadmaps, censorship, and unfulfilled promises can mask deeper issues in the Web3 space, casting doubt on projects using 'community' as a mere buzzword.
- The 9dcc saga serves as a reminder to the crypto industry to demand accountability and transparency, and to move away from projects like 9dcc that operate with a facade of luxury while delivering little value to their supporters.
- In conclusion, 9dcc's narrative highlights the dangers of mismanaged projects in the Web3 space, serving as a warning against falling for superficial allure and exaggerated promises in decentralized ventures.
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