The Azuki NFT floor price continues to rise this afternoon, seemingly shaking off the rug pull accusations. At the beginning of the week, the Azuki NFT floor price was 23 ETH.
However, following numerous allegations and revelations about the founder, Zagabond, the price took a hit, falling to 10 ETH. It appears as though the worst may be over for the Azuki community, and the price is heading upwards again.
Azuki NFT floor price drops after founder allegations
This week the news emerged that the Azuki founder, Zagabond, has previously created other NFT projects. These projects are CryptoPhunks, Tendies, and CryptoZunks.
Significantly, and according to many, some of these projects are rug pulls and no longer exist. In the days that followed the news, Zagabond tried to defuse the situation on a Twitter Spaces with disastrous results. Zagabond said, ‘I’m still learning’ in the spaces, which led to many jokes and memes in the NFT community.
The whole thing created outrage, and the Azuki NFT floor price began to drop rapidly. Over four days, it went from 23 ETH to a low of 10 ETH. Of course, there are other factors at play. This week has been chaotic in the NFT and crypto space, with many projects and coins falling in value.
However, it is not just about the price. There have also been questions raised about the project’s legitimacy and if Zagabond should be allowed to continue leading Azuki. Yesterday, Zagabond transferred complete control of the CryptoPhunks NFT smart contract project back to the community.
It is unclear what will happen next with the NFT Azuki, but the floor price now sits at 15 ETH, so there is hope for this popular project.