SmartBCH NFT projects migration to Dogechain, what will happen to investors on the SmartBCH chain?

While we continue to think about what is the best solution to save the SmartBCH chain from dying, we should not forget about the thousands of investors who are most affected by the current problem in the SmartBCH community. It is on record that almost all the NFT projects on the chain have stopped building or developing their project while a good number of them have entirely abandoned their project without saying a word to their community of investors.

Most of these projects have found a new home on the Dogechain leaving their investors in the SmartBCH community at a loose end. In the latest development, an investor in most of the SmartBCH NFT projects posted on his Noise.cash channel earlier today, expressing his thoughts regarding the current situation of the NFT projects in the SmartBCH chain.

As owners of most of the SmartBCH NFT projects have already abandoned their projects and migrated to the Dogechain, investors who have invested their funds in these projects are caught in an identity crisis as no one has provided any clarity as to what will happen to them in the future.

Some of the NFTs projects are building copies of their abandoned SmartBCH NFTs on the Dogechain. Notably among them are Goblins NFT, and Kensho NFT by the NFT club. Although the NFT club carried its investors along in their migration or what they called expansion journey, others have left their investors in the lurch with no specific plans to protect investors.

We know it is a good thing for a project to expand and build on other chains, but is it right for project owners to create a copy of the same project on those chains in which the smartBCH users have invested their money and be left with nothing?

We need to consider this crucial question and find the best solution that will not be one-sided. It is a good move if a project can build on the Dogechain and support Dogecoin users. And it is definitely a good move if a project can build on Etherium and support Eth users. But it is very important to find a way where both parties are happy with the move.

Instead of leaving us on the pavement, the project owners should develop creative options that will be inclusive and beneficial to their investors.

One such option as suggested by an investor in most of the affected projects is to create a copy of their project on the Dogechain and give some discount benefits to their investors on the smartBCH to participate in the minting of the NFTs in the Dogechain. This option can serve both parties well. It will give the team fresh funds to continue further development on the project in the new chain. on the other hand, investors would be able to continue participating in the Dogechain NFT minting and get some minor profit from that.

On a broader look, this option of a discount may not work for all investors in a particular project. such factors as lack of funds to join the new chain, and the speed with which most NFT minting sold out should be considered.
This way, both parties can feel good and have a win-win situation. However, this is far from what we have seen so far. And it is really distressing that there is no project team that truly has their investors in mind and only sees their own interests above other things.

A second option would be to provide a bridge to migrate the project together with the investors to a new chain. In this case, no new NFTs should be created for minting in Dogechain. This will enable users to utilize the Dogechain NFT busy Marketplaces to sell their NFTs and get back something for their investments. This option can only come from a team who doesn't want to leave a bad impression on the SmartBCH community.

Nevertheless, the drawback of this option is that a project that migrates to a new chain does so for two reasons which are to have a functional chain to continue the project's development and to make more money. These reasons are the motivating factors behind the exodus of SmartBCH projects to the Dogechain. If a new stream of income is not involved, the project team is not motivated to do something to salvage the situation for the investors.

We can also look at another option that I think will be the best for both project owners and their investors. NFT project owners can give all their investors at least one to two free mints in the Dogechain version. This option is a win-win for all parties as it will give a fresh source of liquidity to the Dogechain market and we will see a large number of new users, and also satisfy their older investors to get some benefits and feel good.

In conclusion, the project owners should realize that it is in their best interest to keep their existing investors in mind while doing their moves. It will be their big advantage over the Dogechain or any other chain for a long time. If they do that, their project will gain more traction on the new chain and they will be able to have a stable economy that will give them the resources to continue developing their project.

These are just some of the ideas that I think will be a big win-win for all parties involved. I hope to see these ideas implemented in most of the projects migrating to the Dogechain and they should understand that the best way to tackle the situation on the SmartBCH at the moment is by being united with the rest of the community.

What is your say on all this? Let us know in the comments section!