Azuki NFT Founder Admits To Being Involved In 3 “Abandoned” NFT Projects, Making Azuki’s Floor Price Dropping Dramatically

Azuki NFT Founder Admits To Being Involved In 3 “Abandoned” NFT Projects In The Past

On the morning of May 10, Azuki NFT collection’s anonymous founder Zagabond revealed that he was also involved with Cryptophunks, Tendies, and Cryptozunks, three NFT projects that the management team “abandoned” in 2021 after failing to meet expectations.

CryptoPhunks is a project that copies the renowned NFT collection CryptoPunks. Zagabond stated that CryptoPhunks was developed by him to pay tribute to CryptoPunks, and that the community has had management powers since July of last year.

Zagabond then went on to create the Tendies NFT collection. However, following a disappointing launch in which only 15% of the entire NFT was sold, Zagabond quit the project, claiming that the unattractive design was to blame for the lack of interest.

Finally, he returned to the original concept of CryptoPunks and produced CryptoZunks, a “fake” collection that is similar to CryptoPunks but includes numerous more elements such as NFT accompanying animals or other unique characteristics. However, due to the high “gas fee,” the collection only sold 15% of the time.

Mr. Zagabond argues that the three initiatives above “taught him three lessons” regarding NFT modeling:

  • CryptoPhunks: NFT concepts must have an interesting backstory.
  • Tendies: in order for NFT to be successful, it must be unique and creative, rather than following the crowd and imitating others.
  • CryptoZunks: the idea that NFT should focus on new and exciting features rather than unique ones, and that transaction gas fees should be minimized.

All of these inspired Zagabond to create Azuki NFTs. Azuki is a collection of 10,000 NFTs of original characters produced by the project team, beautiful visuals, various fascinating elements to improve the rarity of each NFT, and a logical development plan that was launched in January 2022.

According to Cryptoslam data, the floor price of Azuki NFTs has decreased by over 40% in the previous 24 hours, and they are currently selling for roughly 11.3 ETH.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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