Yes Theory address fan concerns after backlash to NFT announcement - Dexerto
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Yes Theory address fan concerns after backlash to NFT announcement

Published: 19/Apr/2022 17:28 Updated: 19/Apr/2022 20:05

by Jacob Hale

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YouTube collective Yes Theory has addressed fans’ concerns after a sizeable backlash to the announcement that they would be creating an NFT.

NFTs have become a hugely popular topic in recent years, with digital artwork and other forms of blockchain-based assets climbing to be worth millions of dollars.

As a result, we’ve seen more celebrities and creators look to capitalize on the growing market, especially in the form of digital memberships, and Yes Theory are the latest big names to make that move.

They announced that they would be crowdfunding the capital to create their ‘Project Iceman’ documentary, after turning down a $1.25m offer so as not to lose creative control over the project.

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While they were met with backlash, the group decided to directly address the criticism and questions being fired their way.

Firstly they spoke about the environmental impact, saying that they made sure to research exactly how they can do as minimal damage as possible, opting to use the Polygon blockchain, and stated that they would be offsetting the minimal environmental impact they do make.

They also clarified that fans won’t need any crypto wallet or to jump through certain hoops as you do with more traditional NFTs, making it as easy and accessible for their committed fans to purchase their NFTs, which are being sold as premiere tickets and to fund the project.

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Despite the explanation, many of the comments still aren’t sold on the idea of NFTs being needed to help fund the post-production of Project Iceman.

“I love you Yes Theory,” said one commenter. “I’ve bought merch six times. But I HATE this idea!”

Another said: “I would legit much rather you guys do a kickstarter and give us rewards like an Iceman t-shirt, a photo book with BTS of the documentary, a cool hoodie, a signed dope as heck Iceman poster, absolutely anything else … no one wants to show someone a photo on their phone with proof that they pledged money early.”

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Yes Theory offer alternative for NFT critics

Yes Theory have since released an additional statement amid the ongoing backlash surrounding their latest NFT endeavor. The YouTubers acknowledged their fans’ concerns and are now offering an alternative way for them to get involved, which won’t require the purchase of an NFT.

“After listening to suggestions from the community on how to make this more accessible, we felt that the best way to move forward was to create a way in which people could assist the project and get the benefits of watching the early online premiere, but not through the purchase of a NFT,” they said.

“We’ve decided that out of the 10,000 tickets that we will be making available, half of them (5,000) will be Regular Tickets that can be purchased through the Seek Discomfort website. They will not be NFTs, but will provide the same benefits as the NFT ones.”

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yes Theory offer NFT alternative for concerned fans
Instagram: yestheory
Yes Theory are now offering fans an alternative to NFT purchases.

“We believe this way we can break the barriers that would prevent someone from participating and supporting this amazing film on the making.”

It doesn’t seem as though Yes Theory are backtracking on their NFT plans – but are at least offering concerned fans a different way of getting involved.