Azuki fortunes reverse as sales soar after floor price drop


Azuki non-fungible token (NFT) profits rose by a lot more than 800% in the past 24 hours after a 50% floor selling price dive thanks to rug pull allegations from the founder.

See linked post: Twitter hacker can take more than confirmed accounts to promote pretend Azuki NFT fall

Quick points

  • More than US$50 million value of Azukis have been traded in the previous working day, and the assortment has now totaled US$710 million in historic income, creating it the eighth-largest NFT selection, according to CryptoSlam.
  • The gross sales surge follows a plunge in flooring cost from 16.2 ETH (US$38,484) to 8.3 (US$19,717) ETH on Tuesday, according to CoinGecko.
  • On Tuesday, Azuki’s pseudonymous founder Zagabond shared in a web site write-up the lessons learned from a few prior unsuccessful projects — CryptoPhunks, Tendies and CryptoZunk.
  • CryptoPhunks was handed back to the group immediately after multiple de-listings owing to copyright worries, though Tendies shut down due to lack of interest, and CryptoZunk fell target to significant gas costs, Zagabond wrote.
  • Some Twitter end users alleged Zagabond’s response to the failures replicate traits of rug pulls, a form of fraud when founders abandon assignments and flee with investors’ resources.
  • Zagabond has denied the allegations. 

See associated report: BAYC’s flooring price tag surpasses 100 ETH because ApeCoin start


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