Following the revelation, the project’s floor price has plummeted.

The Azuki non-fungible token (NFT) project’s pseudonymous founder exposed his tumultuous past with abandoned projects on Monday night, sending NFT Twitter into a frenzy and the collection’s floor price plummeting.

The creator, who goes by the Twitter handle Zagabond, outlined his involvement with the projects Cryptophunks, Tendies, and Cryptozunks, all of which were abandoned by their original founding team, in a blog post.

Much of Azuki’s success, according to Zagabond, was due to learning from the other project’s mistakes.

“It’s critical that the community encourages innovators to develop and experiment during these formative days,” Zagabond said in the blog post. “Each experiment also has important takeaways.”

The news sparked outrage among the NFT community, with many expecting the information will be made public via on-chain investigation in the coming days.

The post has rekindled the controversy about NFT founder disclosure, which peaked in February when BuzzFeed disclosed the true identity of the creators of the Bored Ape Yacht Club.

On the secondary market OpenSea, the price of an Azuki plunged from 19 ETH (about $42,000) to 10.9 ETH (roughly $24,000), but has subsequently risen to 12 ETH (around $31,000) at the time of writing.

Since its launch in February, Azukis has sold over 200,000 ETH (about $526 million) in total, the sixth highest of any NFT project.

You may also like

Leave a reply

Your email address will not be published.