Seven Treasuries NFT collection down 95%
LiveArtX is known for its NFT line Seven Treasures. The Seven treasures NFT collection is described as follows on it’s OpenSea page:
“Meta-morphic is a generative art project that brings you on a journey through nature, art, and the creative world of Huang Yuxing. Meta-morphic presents a narrative transcending the rules of nature and bringing us on a path of discovery, gaining and collecting treasures from the natural world. Huang’s works have already passed the $8-million mark at auction, most recently via the sale of his epic riverscape Seven Treasure Pines (2016–19) which sold for HK$64.8 million ($8.3 million), more than 13 times its high estimate, a record sum for a Chinese artist born after 1970. “OpenSea Collection
LiveArtX had recently received strategic funding from an investment round in the amount of $4.5million. That round was joined by Animoca Brands, BNB, Chain Fund, and KuCoin.
The team at LiveArtX went onto Twitter to assure users that they are on top of the situation and doing everything that they can to resolve any issues.
Since this tweet there have been no further updates on the situation and this has led to the community calling for refunds and stating that LiveArtX is scamming everyone.
As the team was working on the situation it would appear that the Seven Treasures NFT line was sinking.
A look at the collection today shows a rising trend back on the collection however.
October 15 saw the average price for the collection being around $1,493 or 1.14 ETH with a trading volume of $5,946 or (4.54 ETH) the price took a drop of over 95% on Oct.16 and fell to $73.53(0.56 ETH) The new rise has the collection sitting at $105.57( 0.81) ETH at the moment.
This story is ongoing, Solanews has reached out to LiveArtX and will report if there is a response.