The founder of the $ 723.5 million Azuki nonfungible token (NFT) project “Zagabond” caused a stir yesterday after announcing that they had previously worked on three abandoned NFT projects. After receiving a great response from the NFT community, they have since apologized for their “flaws”.
Three projects in question are Tendies and CryptoPunks copycats CryptoPhunks and CryptoZunks. “Zagabond” indicated that all three had failed due to lack of community support and other factors such as team members leaving or high petrol fees on Ethereum.
After posting the blog via Twitter, most of the responses were in support of the “Zagabonds” honesty on the trial and error path that led to the Azuki NFTs. However, other sections of the NFT community were not as happy.
Do not understand all FUD.
Just like with business, if one of your projects goes badly and goes badly, you should reduce your losses.
Why continue to build on unsuccessful projects and spend more time and effort?
– fomo maxi (@fomomaxi) May 9, 2022
Twitter user zachxbt did not echo his words when they posted: “So Web 3.0 = taking three projects in less than a year? before reporting on the alleged wrongdoing associated with the CryptoZunks designers who pretend to be women in an attempt to market the project.
Other users such as dxv_eth claimed that “Zagabond” had agreed to build a marketplace for the CryptoZunks project and buy part of Metaverse in order to strengthen the ecosystem, but did not do so until the community finally ghosted.
After slamming the community and holding a Twitter Spaces chat, “Zagabond” issued an apology earlier today, stating that:
“I realized my shortcomings in how I handled the previous projects I started. To the community I left, to the Azuki owners and to those who believed in me – I’m really sorry.
Madonna x Beeple
The iconic pop musician Madonna and the NFT heavyweight Beeple have joined forces to launch an art gallery that shows the singer in humility as the mother of creativity, development and technology.
There are a total of three different NFT works of art, all of which depict Madonna giving birth to various trees, butterflies or mechanical centipedes.
The NFT equipment is scheduled to be auctioned off via SuperRare on Wednesday. Madonna said all proceeds would go to three different NGOs called National Bail Out, V-Day and Voices of Children.
From the beginning of time …… .. To lean into a new virtual world with @ bíppi
Check back here on Wednesday 11th of May at 15:00 PST / 18:00 EST before giving birth. NFTs fall on @ofur rare.
– Madonna (@Madonna) May 9, 2022
Instagram to support the flow of NFT
After Dapper Labs announced the $ 725 million ecosystem fund to boost the growth of its Flow blockchain this week, the team has also revealed that it has signed a partnership that will see Flow-based NFTs supported on Instagram.
Summary of what has happened to Flow Blockchain:
Feels like things are just heating up.
– Flowverse – Discover Flow Blockchain (@flowverse_) May 11, 2022
Roham Gharegozlou, CEO of Dapper Labs, pointed out on Twitter earlier on Wednesday that the campaign will change “games” for NFT projects on Flow such as the NBA Top Shot, NFL All Day and the UFC strike, as it will offer them great exposure to international audiences.
It also marks one of the first big blockchain collaborations for Instagram. The social media company will also put out support for NFTs on Ethereum and Solana.
The CEO also stated that the funding of 725 million dollars will be “mostly investment money” and not grants provided for projects that want to build on the ecosystem.
CryptoPunk sells for huge losses
NFT from one of the original NFT projects CryptoPunks was sold for a full 86% loss on Sunday.
CryptoPunk # 273 sold for more than $ 1,003 million in October, valued at 265 Ether (ETH) at the time, but has since fallen out of favor in a stormy time for the cryptocurrency and blockchain sector, reaching just $ 139,836 on Sunday morning.
CryptoPunks Larva Labs grew in popularity throughout 2021 and the project was recently acquired by Yuga Labs in March, the team behind the popular Bored Ape Yacht Club NFT. However, this action does not seem to have done much for the market in the short term.
8 of the last 10 Cryptopunks that have been sold have been sold at a loss, leading of these – Cryptopunk # 273.
It was purchased six months ago for $ 1,026,499, it sold early this morning for $ 139,530. image.twitter.com/vSAonBerbl
– Darren Rovell (@darrenrovell) May 8, 2022
Connected: Other NFTs fall below currency prices, while cheaper ETHs see an increase in sales volume
Other great news:
Mark Zuckerberg, CEO of Meta, said the company was starting to test digital collectibles on Instagram’s video and video sharing platform this week, indicating that it’s a step towards adding NFT.
Billionaire investor Mark Cuban has cited smart business deals as the next incentive to power the cryptocurrency and blockchain sector. He argued that networks that only offer NFT and distributed financing (DeFi) as a result will eventually crumble.
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