Zagabond, an alias of the founder of non-fungible tokens Azuki, admitted to dropping projects in the past, with three projects in one year as a major highlight. These are related to Cryptophunks, Cryptozunks and Tendies.
The Azuki NFT founder said that the original teams initially abandoned these plans in the blog post.
The NFT community did not take this in a good spirit and raised concerns that the identity of the founders of NFT should remain transparent. This debate made its way onto the internet last February, and yet it re-emerged after Zagabond’s revelation.
The floor price of the non-fungible token has dropped drastically. It previously stood at 19 ETH, falling to 10.9 ETH. The two figures add up to $42,000 and $24,000 respectively. The price rebounded to 12 ETH – $31,000 – as of this writing.
In the tweet posted by Zagabond, the founder said that Azuki is building the future of Web3 and the team is for the long haul whether the market is bullish or bearish. Zagabond added that Web2 can only be challenged if developers experiment with Web3.
The tweet ended with the last point, saying that Azuki was built on learning how to create Phunks and other projects.
Followers reacted to the tweet saying he may have just admitted to founding and dropping three projects in one year. Another subscriber replied, asking if Web3 equals roaring three projects in less than 12 months.
BuzzFeed last revealed the identities of the creators of Bored Ape Yacht Club in February. When the whole community buzzed, it was about whether the identities should be kept secret. The debate peaked the same month, only to resurface on the internet in May.
Azuki is the sixth highest valued non-fungible token with a total sales volume of at least 200,000 ETH, or $526 million. The exploit is significant because the NFT was only released in February.
Zagabond attributes this success to learning from the failure of other projects.
The debate remains heated whether the identity and progress of the development team should remain confidential.
Non-fungible tokens still have a lot to do in the times to come. The industry has realized its potential, with many brands connecting with the target audience. It is not only artists who enjoy the support of their creation, but also other communities like iGaming who integrate digital assets into their ecosystem for further enhancement.
The power of NFT can rightly be guessed by the fact that although Zagabond has admitted to abandoning three projects in less than a year, the NFT collection has rebounded to a higher value with estimates that the price will reach a value higher.
The community expected some information to be made public through on-chain investigations. Not everyone is surprised, but it moved the majority of the members.