Making Room for the Future: Streamlining Collections for a More Innovative Noundles

Today we made the difficult decision to delist our legacy collections, Legacy Noundles and Legacy Noundles Game, on OpenSea.

The Noundles collection launched in late November 2021, with Noundles Game launching about two weeks later. Both of these collections had smart contracts with the same flaw that inaccurately managed the count of tokens held by the user. This meant that depending on how you bought, sold and transferred your tokens, you might wind up in a place where your Noundle was soulbound to your wallet. You can read more about this and the other reasons we migrated here.

Noundles moving up and to the right

Since migration to the new contract would require every user to give us each of their tokens to wrap, we couldn’t just wave a wand and fix everyone’s NFTs. This change would take time to happen, and might not happen at all for many tokens. This put us into a difficult situation: maintaining two collections, one legacy and the other current.

After nearly a year of doing this, it’s clear it is not sustainable:

• Multiple collections make it difficult for users to find the right one. Between the two legacy collections and three new ones, it meant five different places for users to look. New users might even opt not to buy a Noundle because they’re unsure which one is the right collection to buy.
• Two collections opened the project up to price arbitrage. Whenever the price for a floor Noundle exceeded the cost of a legacy floor Noundle (plus migration costs), the best thing to do is to buy from the legacy collection. Since legacy sellers tended to be the ones disconnected from the project, it put downward pressure on the new project’s floor and did a disservice to legacy and new holders alike.
• Legacy collection volume dwarfed new collection volume. With the legacy collection dating back to the launch and the contract migration relatively recent, it meant that for a long time our old collections would show the bulk of our volume. This erroneously painted the picture of a failed project.

Delisting gave us the opportunity to fix all of this: one place to find Noundles with its complete history, and without the opportunity for floor arbitrage. Fortunately, this change will have minimal negative effect on our holders. If you hold a Legacy Noundle, Evil Noundle or Companion, you can still wrap it for the new collections on your Noundles Dashboard. We have no plans to disable this capability at this time.

Raffi’s future is so bright he has to wear shades

Thanks to our frens at OpenSea, who have helped us migrate our sales totals to the new collections. We are excited about the bright future ahead for our project!

🌈 Elton