Largest NFT Collections Drop More Than 20% Amid Market Crash and Inner Scandals


Azuki collection decided to add more fuel to fire

The largest NFT collections by market capitalization, such as Bored Ape Yacht Club, Crypto Punks, CloneX and the most recent Otherdeed by Other sidehas been hugely successful and has dropped 10% to 20% from its floor price in the past three days, according to Nansen metric.

This would be less dramatic amid the overall crypto market crash, but Zagabond, the founder of one of the top NFT collections, Azuki, decided to add more fuel to the already flaming fire.

Twitter announces Azuki’s death

This is the kind of message that Crypto Twitter is rife with now. Why bury one of the best NFT collections of the moment?

The reason is simple, as the founder of NFT Azuki told of his unsuccessful participation in previous projects: Cryptophunks, Tendies and Cryptozunks, all of which were abandoned.

The announcement was met with a backlash from the NFT community, which accused Zagabond of carpet pulling previous collections and posing as a curator.

After the described events, Azuki’s price on the OpenSea secondary market dropped from 19 to 9.49 ETH where, according to Nansen, a significant number of smart NFT players chose to turn a blind eye to the founder’s past and accepted the repurchasing of the project’s collectibles.

To date, the biggest collections have reclaimed their positions in part with Mutant Ape Yacht Club, Adidas: Metaverse and NFT Worlds all gaining 19% in floor price over the past 24 hours. But overall, the market is still underwater and has left “JPEG” enthusiasts frustrated.


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