Gutter Cat Gang token sale marred by ‘technical issues,’ reportedly low interest

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The steadfast down the Gutter Cat Gang NFTs said “niche method issues” prevented the GANG tokens from launching connected ApeChain connected March 31, arsenic initially planned.

Gutter Cat Gang token merchantability marred by ‘technical issues,’ reportedly debased interest

Non-fungible token (NFT) task Gutter Cat Gang (GCG) saw a rocky token motorboat of its GANG token connected Apechain connected March 31, attributed to a “technical issue” by a 3rd party, though others pointed to reportedly debased involvement successful the token.

While GCG didn’t corroborate these figures, it did state successful a March 31 Discord station that nary GANG tokens were distributed owed to it encountering a “technical issue” by a 3rd party.

“Bad news,” the main designer of GCG, “Yugen,” wrote connected GCG’s Discord channel. “The declaration is stopping america from the 100% liquidity assertion time 1,” which Yugen said is preventing participants from cashing successful and out.

“We’ve tried to hole it for astatine slightest an hr and nary success,” said Yugen, who added:

“You will, beryllium getting your $GANG. But not today. I volition travel backmost with a caller nonstop day and time.”

The token merchantability was described arsenic a “fumble” by X idiosyncratic and NFT enthusiast “Easy,” who pointed retired that the squad locked up 100% of the token proviso successful the vesting contract — moving contrary to the GCG’s tokenomics plan.

Under that plan, 12.5% of GCG NFTs and 15% of Seed Round allocations were meant to unlock instantly, with the remainder of the tokens scheduled to vest regular implicit the adjacent 18 months.

GCG’s extremity was to merchantability 12% of the full proviso astatine $0.0089 per token — targeting a rise of astir $1.08 million, which would’ve fixed it an implied marketplace headdress of $9 million.

The GCG squad marketed the “useless” GANG tokens arsenic “just vibes” with “no promises” and “no roadmaps.”

Reports connected X suggest GANG failed to garner important interest

Several X users claimed that GCG lone raised 3.66 Ether (ETH) worthy astir $6,800 from the GANG token assemblage merchantability — falling acold abbreviated of the $1 cardinal people that it supposedly set. However, GCG hasn’t confirmed oregon addressed these figures.

GCG launched connected June 8, 2021, starting disconnected arsenic a postulation of 3000 unsocial NFT avatars with a backstory astir the post-apocalyptic shatters of society.

GCG’s NFT level price utilized to beryllium 8.5 ETH — worthy $15,240 — successful September 2022 but has since fallen to 0.19 ETH astatine existent prices, NFT Price Floor data shows.

The NFT steadfast was acquired by X idiosyncratic and NFT enthusiast “Mauloadream” who besides goes by Noah, successful October 2023 for an undisclosed amount.

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