The "24-hour fair Dutch auction" lasted about 30 seconds.
Yield Fields opened Founding Deeds on Robinhood Chain yesterday. Price was supposed to slide from 1 ETH to 0.069 ETH over a full day. All 3,333 deeds cleared almost immediately at 0.999688 ETH.
If every deed paid that clearing price, the mint grossed ~3,332 ETH — about $8.3M. Whitelist allocation is still fuzzy on whether they paid the same final. No VCs. Just players.
Then the secondary did what secondaries do. First ~16 hours on OpenSea: 464 sales, 439 ETH volume (~$1.1M), ~14% of supply flipping. Floor sat 0.905–0.94 ETH — 6–9% under mint — and flips still eat a 5% creator fee. Quick-flip thesis: deceased on arrival.
Ownership isn't a single wallet party: ~1,440 holders, ~2.3 deeds average. One wallet (Chunibro) sits on 149 — ~4.5% of supply. Team wallet: 20.
Token Autopsy: mint proceeds are supposed to "kickstart flywheels" and keep an officially "[REDACTED]" asset thick from day one. Farming isn't live. Anyone can farm free; Deeds are pitched as Fertilizer producers via Fert Decks, not gatekeepers. Until that loop is real and the redacted ticker has a name, you didn't buy yield. You bought a player-funded treasury note wrapped in a farm sim — funneled by Maze of Gains players who already spent $3M+ warming the pipe.
Player land sales aren't healing. They're the new VC round with worse disclosure.