Azuki founder, ZAGABOUND.eth, committed an apparent act of blockchain seppuku with an ill-fated blog post. The pseudonymous project lead left NFT Twitter aghast by falling on a sword made of egotism.
The once high-flying crypto entrepreneur posted what was likely intended as an inspirational rags to riches tale of effort and perseverance. Instead, what transpired in the minds of the NFT community resulted in a chronicle of previous misdemeanours.
In the post, ZAGABOND openly referenced his three projects prior to hitting the big time with Azuki. All of which were abandoned by their founding members when the going got tough. CryptoPhunks ran into trouble for being a CryptoPunks clone, Tendies never gained traction, and CryptoZunks…well, see CryptoPhunks.
Since the revelation, the Azuki floor price crashed from highs of a 20ETH floor, to the lows of 10ETH, but recovering to around the 15 ETH mark as of writing. However, it remains unclear how much of this change is a result of the current market conditions.
The incident has sparked debates throughout the social media NFT arena. Specifically, reigniting a call for founder transparency, as well as whether something classifies as a rug pull if the founders had no roadmap and made no promises. Even if they did just abandon the project and begin anew with their dubiously acquired gains.
Now, accusations are flying far and wide to further nefarious behaviour. Some crypto sleuths believe they have located a pattern of shady happenings from the last year. Read through the ZachXTB thread for the juicy details.
Read Zagabond’s ‘inspirational’ blog >> Here
Follow Azuki >> Twitter