The first entry, which was released in July was met with some fan criticism as Members of the NFT community felt that the first instalment had a confusing story and the use of Bored Ape Yacht Club elements was lacking.
No official statement from Coinbase has been given regarding the reasoning for the halt in production as of yet. However, speaking with Decrypt, a Coinbase spokesperson did comment saying, “We are constantly evolving our content strategy and have decided to pause production of the remaining two films while we identify the best path forward for the creative. We will continue to focus on more immediate creative endeavours”.
This statement would make it seem that upon evaluating what is most important, the remaining two short films are not cutting it as a priority for the moment. Of course, given the negative remarks that surrounded the first release, this could also be an opportunity for future instalments to undergo some changes to try and create a product that fans would be more satisfied with.
This past year has been a tough one for many who work within the realm of crypto. Coinbase suffered mass layoffs in June and the crypto market crash has seen the NFT market take a significant hit. Bored Ape, one of the most notable sellers of NFTs, which has seen peak prices of $429,000 have recently seen those prices drop to below $60,000.
Despite the falling prices, Bored Ape Yacht Club still stands as one of the most well-known NFT projects, with numerous collections being released and even celebrities such as Eminem snapping up a character. Given time and a more stable crypto market, the final two instalments of the film series may yet see the light of day.