Nakamigos' Surprise Pivot on Cloaks Collection


September 14, 2023


Iara Kaiser

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Popular NFT collection Nakamigos recently found itself in hot waters following an announcement that they were launching a paid 20,000 supply collection at a 0.05 ETH price point.

Their ambitious goal of raising approximately 1000 ETH drew sharp criticism from the community & as a result, the team has decided to adjust their strategy to a free-mint for holders, which will be made eligible via a snapshot.

The unveiling of the 'Cloaks' collection initially led to a shocking 40% drop in their floor price, with this discontent resonating throughout the community as plenty of members took to X to voice their concerns.

The team, having amassed a total of 39 million USD at the time of writing, has raised questions about their motives among many.