In the recent turn of the event, the notorious NFT curator, Murat PAK criticized in the newsletter entitled “The Pak Delusion” posted by ShortsHoward. The newsletter slammed Pak for creating hype and delusion around his NFT collections and $ASH tokens. After the news surfaced, some users on the Twitter are demanding lawsuit against PAK.
The newsletter highlighted lot of “delusions” and compared with so called “reality”.
For instance, the news letter cited Pak’s claim that he values art rather than profit. But, the newsletter reads that “ Pak’s primary motivation is profit”. It states that Pak applied various tactics to create hype and encourage competitive buying.
The newsletter stated that, “it is troubling that Pak is using incentives and gamification during sales to encourage reckless social purchasing behavior, which can be financially damaging to buyers.”
Furthermore, Shortshoward allegedly stated that Pak is failed to complete his promises about making people rich through his NFT projects. Also, it called Pak’s NFT projects like Poet, Merge, and etc failed projects
The newsletter also burst the Pak’s claim during the promoting the digital arts that they are not investment products. It cited Pak’s collaboration with NFTSibs, which is a leading ““digital investor siblings”.
It stated that, “If you look at NFTSibs website and Twitter, they are an INVESTMENT-focused discord: it even says it on their Twitter account.”
In the another delusion stated that $ASH tokens failed to maintain its value as None of the AshTwo artists have released collections in $ASH after the failed drop or even bother to mention $ASH at all.
Also Read: Pak’s Ash Drop ‘Carbon’ NFTs Auction Ends
Moreover, the newsletter also denis the connection between Bitcoin blockchain creator, Satoshi and Pak.
Another aspect discussed in the newsletter is PAK’s promise of burnable NFTs in his project Lost Poets, which was supposed to happen 365 days after its launch in September 2021. However, PAK’s delays and failure to address issues have led to disappointment among collectors.
The value of PAK’s NFTs has also come into question, as he had claimed that they would hold value due to multiple scarcity mechanisms. However, the reality seems to be different, with $ASH and other PAK NFTs experiencing significant drops in value. It left so many investors with losses.
Critics also pointed out that PAK has rewarded flippers and those who exited early, rather than benefiting long-term holders. Moreover, PAK’s $ASH token, supposedly designed to solve the “too many” NFTs problem, has not achieved the desired utility, and sales volumes have plummeted.
Furthermore, PAK’s self-proclaimed title as “The most significant creator in the NFT space” has been challenged, as many prominent NFT collectors have not shown interest in his works, and some have even expressed confusion about his art.
The newsletter also raised concerns about PAK’s actions that contradict the principles of decentralization, as he has changed metadata and the nature of gifted NFTs, undermining the spirit of blockchain technology.
In addition, PAK’s project Burn.art, which was meant to clean up the NFT space, has been criticized for becoming overly complex and failing to address the oversaturation of the market.
As the newsletter “The Pak Delusion” continues to circulate, it remains to be seen how the NFT community and investors will respond to the revelations and criticisms directed at the infamous NFT curator, Murat PAK.
Apart from this, Pak also facing a criticise on the social media platform, Twitter. One of the NFT influencers under the pseudonym Beanie slammed Pak in a Tweet for selling gamified NFTs.
The frenzy around Pak’s NFTs was further fueled by major auction houses aggressively promoting and marketing these digital artworks. As a result, there was intense competition among collectors and investors to “mint” or purchase these NFTs, leading to a situation where people had to fight figuratively, not literally, to get their hands on them.
During that period, the artistic merit of Pak’s NFTs was considered exceptional, and they were seen as highly valuable and significant works of art in the NFT space.
However, the situation has changed after that. The value and perception of Pak’s NFTs have declined, and they are no longer considered as valuable as they once were, raising questions around its credibility.
In the reply of this tweet, some users are demanding class action lawsuit against PAK.
However, lot of people are not considering any of these allegation and seeing it as a fresh controversy sparked by investors who lose money in Pak’s NFT. Also, there’s no reaction or official statement came out from Pak at the time of writing.
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