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- On Monday as per a host of Twitter Space dubbed “The Death of Azuki,” the NFT collection’s time has come.
- Azuki price dropped considerably after Zagabond, founder of Azuki NFTs, published a blog post, unveiling that the anon figure was involved in some lackluster projects.
- A few NFT enthusiasts seem to be taking advantage of dropping prices of Azuki NFTs.
Is This Really The End Of Azuki?
A Twitter Space host made an announcement that “Azuki is Dead,” during Monday eve. The bold claim follows a blog post’s release from Zagabond, pseudonymous founder of Azuki NFTs, who shared that he was formerly involved in lackluster NFT projects which were labeled as “rugpulls.”
NFTs are distinct blockchain tokens that represent ownership over an asset — can have volatile value fluctuations, and Azuki channel on blockchain of Ethereum is no exception.
Within hours of post published by Zagabond, Azuki collection’s initiation price or floor value, diminished from roughly 19 Ethereum to around 10.9 Ethereum.
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Azuki is not having its best month with respect to floor value, either. Collection’s initiation value is down 56% in the previous month and around 63% during previous week, as per the data from a data aggregator.
Zagabond Is Clean
Self-described “on-chain sleuth” ZachXBT shows some concerns regarding blog post by the Azuki founder and alleges Zagabond of “rugging” on past projects. A rugpull is when a person launches a project with an aspiring roadmap, only to abandon the project after bagging investors money.
But Zagabond denies such accusations levied against CryptoZunks, Tendies and CryptoPhunks.
Zagabond stated that he do wish that it would become successful, there was no product market more fitting, but that does not mean it is a rug.
Zagabond elaborates CryptoPhunks as a “parody project,” stated that Tendies NFTs “wound down” just after minting out around 15% of meme collection, and recommended that CryptoZunks project has “restrictions because of gas price on Ethereum killing product experience.”
But a few NFT enthusiasts seem to be taking advantage of Azuki NFT’s diminishing price. The collection witnessed some soaring sales, with more than 300 sold in the aftermarket in a single day.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
