Azuki, one of the most popular NFT collections, saw its prices tumble after its founder revealed a past affiliation with abandoned NFT projects.
<h2><strong>Azuki NFTs Declining Floor Prices
</strong></h2>
In a <a href="https://mirror.xyz/0x1Cb8332607fba6A780DdE78584AD3BFD1eEB1E40/yG8rI1lpQGLPhZch0kjxYRjKTtA9rAL51zg-ZrURyAc" target="_blank" rel="noopener">blog post</a> titled “A builder’s Journey”, the pseudonymous founder of the popular Azuki non-fungible token (NFT), Zagabond has admitted that he is also behind the NFT projects “CryptoPhunks”, Tendies and CryptoZunks, projects that are allegedly rug pulls.

This news came as a shock to many holders of the Azuki project. For instance, within hours of Zagabond’s post being published, the collection’s floor price declined from roughly 19 ETH or $41,800 to about 10.9 ETH worth $24,000 at current prices.

Meanwhile, the project wasn't having the greatest month in terms of a floor price, either. According to data from NFT Price Floor, the collection's starting price is down 56% in the past month and nearly 63% in the past week. The price crash could also be due to the overall bear market across crypto and NFTs.
<h2><strong>Founder Denies Rug Pull Accusations</strong></h2>
Zagabond has denied the rug-pull accusation levied against him by the crypto community for his involvement with Tendies, the CryptoPhunks, and the CryptoZunks NFTs.
<blockquote><em>“Do I wish they were more successful? Of course. There was no product-market fit at the end of the day, but that doesn’t mean it’s a rug,”</em> Zagabond said.</blockquote>
https://twitter.com/ZAGABOND/status/1523806046602416130

Azuki NFT Crashes After Founder Admits to Past Rug Pulls

Azuki, one of the most popular NFT collections, saw its prices tumble after its founder revealed a past affiliation with abandoned NFT projects.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Azuki NFT Crashes After Founder Admits to Past Rug Pulls

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