Trove Token ($TROVE) experienced a dramatic crash upon its launch on January 20, with its price plummeting over 95%, raising significant concerns about the viability of NFT derivatives. The token's launch followed a tumultuous ICO period, where Trove raised $11.5 million but faced criticism for repeatedly altering fundraising rules, leading to market uncertainty. The project's sudden shift from its original roadmap to launching on Solana further fueled skepticism. Allegations of mismanagement and lack of transparency intensified, with accusations of "exit scam" and "fraud" surfacing. The collapse has prompted a reevaluation of Trove's ambitious plan to tokenize collectibles into perpetual derivatives, highlighting the challenges of establishing reliable pricing mechanisms and liquidity for such assets.