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So the Merge drop happened and there was a small bug in the code, here’s a quick summary of what happened and what will be done (tldr: relax, it’s resolved and will just take a few days).
All of this demonstrates how frontier and pioneering Pak’s works are and that the art/design is way more than the token image, the art is the token that includes the smart contract that is Merge. Multi-trillion dollar companies routinely release updates on their apps and this small bug was just a single line or two of code.
Don’t judge an NFT by its cover.
There was an edge case from the Merge smart contract where:
If a wallet call it A (outside NiftyGateway) has a Merge token X sent to it and
Wallet A sold the X token or transferred it to another wallet, and then is sent another token (wallet A receives another merge token say from buying on the secondary)
That new token gets automatically burned in wallet A and merges with token X which is in another wallet (or a “bad merge”)
So a very edge case that perhaps predominantly affected those who sold immediately.
How many wallets or merge tokens were affected?
Very few: out of the 28k wallets about 3.2k transferred tokens out of Niftygateway and an even smaller subset of those had tokens that merged. Only a very small number, 10, of that small subset of merges had this “bad merge.”
So we are talking sub 0.03% of tokens affected.
What factors delayed the bug from being fixed immediately or NG or Opensea being notified?
External factors like Amazon were to blame.
What’s the current status?
There will be a new mint on a new contract.
The reminting will cost money (from NiftyGateway):
While the exact execution/details are not available, things are solved so please don’t blame anyone or throw accusations.
What will happen to the existing tokens?
The tokens on NG will be burned. While the tokens that have been transferred are blacklisted from selling on all major NFT platforms. It’s also likely they will have a 100% royalty so even if they are sold, the seller receives nothing.
Most importantly, you will get what you paid for (so relax if you don’t get to keep the bugged token):
Worry not, this is a beautiful outcome:
We should be thankful to Pak and team for all their transparency, after all, Pak has got our backs (and we got their backs too):
So wen $ASH drop?
It was not a project-failing mistake because of the brilliance of the mechanics and Pak's objective credibility in the space. Genuine art/artists are more capable of overcoming adversity and that should not be a taboo take.
How can I join the Pak discord?