Momentum's Web3 Real Estate NFT Sale on SUI: A Likely Cash Grab

I just heard about a new re-sale event on SUI involving Momentum announcing the minting of Web3 real estate, which sounds like another hype-driven call. It seems like they're going to mint NFTs with a supply of 50K, which is quite large. The NFT price is around $200+ each, which makes me suspicious—I've seen similar supplies before.

All this is presented with style: pack opening mechanics, exciting discounts, and bonus airdrops from Token Generation Labs (TGL), promising drops worth $50K at $0.01 each. The system includes various allocation tiers—Epic, Rare, Uncommon, and Common—with different unlocks at TGE. Interestingly, the larger the drop, the less is unlocked initially, which seems counterintuitive, almost like market pressure tactics.

The mechanics involve paying 10% of the pack price upfront for reservation, with options for additional payments during the claiming phase, or possibly cashback, plus a refund policy that is fully refundable during claim. There's also an interactive map where each NFT brightens your virtual city—a feature reminiscent of other virtual land projects.

Overall, it smells like a massive cash grab, aiming for a $10 million raise with limited genuine benefits. Drops are likely to be minimal—probably just a few dollars at best—and the allocation system seems copied from older systems, just doubled in supply. They hype up becoming a landlord and earning rewards from momentum, but that looks more like a way to exit liquidity after the drop.

Interestingly, they've allowed a 10% deposit to reserve a spot, which hints they know there won't be significant demand. The referral system further incentivizes sharing, with small discounts and affiliate bonuses. Also, KYC compliance adds a layer of formality.

Given the $50K supply and the current NFT market conditions on SUI, I expect the price of this 'thing' to fall to around $60—unless I'm mistaken. So, for those interested in becoming a virtual landlord or picking up some free rewards—check out my referral link. All in all, it's a high-risk, hype-driven scheme with little real value backing it.