The founder of the $723.5 million Azuki NFT project who goes by “Zagabond” online caused a sh*tstorm yesterday after revealing that they had previously worked on three noabandoned NFT projects. After facing strong backlash from the NFT community, they have since apologized for their “shortcomings.”
The three projects in question are Tendies and CryptoPunks copycats CryptoPhunks and Cryptozunks. Zagabond suggested all three had failed due to a lack of community support , and other factors such as team members leaving or high gas fees on Ethereum (ETH).
After releasing the blog via Twitter, most replies were in support of Zagabond’s honesty on the trial and error path that led to Azuki NFTs, however other sections of the NFT community weren’t as pleased.
Really don’t understand all the FUD.
Just like with trading, if one of your projects is underperforming and doing poorly, you should cut your losses.
Why continue to build on a failed project and waste more time and effort?
— fomo maxi (@fomomaxi) May 9, 2022
User zachxbt didn’t mince their words when they posted: “So does Web 3.0 = rugging three projects in less than a year?” before going to recount some alleged misdeeds relating to the Cryptozunks developers pretending to be women in a bid to market the project.
Other users like dxv_eth alleged that Zagabond had agreed to build a marketplace for the Cryptozunks project and also purchase Metaverse in a bid to strengthen the ecosystem, but failed to do so before eventually ghosting the community.
After being slammed by the community and holding a Twitter Spaces chat, Zagabond issued an apology earlier today, noting that:
“I realized my shortcomings in how I handled the prior projects which I started. To the communities I walked away from, to Azuki holders, and to those who believed in me — I’m truly sorry.”
Madonna x Beeple
Iconic pop-musician Madonna and NFT heavyweight Beeple have teamed up to launch a tokenized art collection that humbly depicts the singer as the mother of creation, evolution and technology.
There are three different NFT art pieces in total, all of which depict Madonna giving birth to various either trees, butterflies or mechanical centipedes.
The NFTs are set to go up for auction via SuperRare on May 11 and Madonna stated that all of the proceeds will go towards three different non-profit organizations called National Bail Out, V-Day and Voices of Children.
Since the beginning of time…….. Leaning into a new virtual world with @beeple
Check back here on Wednesday May 11 at 3pm PST / 6pm EST for the nativity. NFTs dropping on @superrare.
All proceeds to benefit these organizations: @NationalBailOut@vday @voices_org_ua pic.twitter.com/ab2RkP47kv
— Madonna (@Madonna) May 9, 2022
Instagram to support flow NFTs
After Dapper Labs announced the $725 million ecosystem fund to boost growth on 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.
A summary of what’s happened for Flow Blockchain:
1. @instagram will support @flow_blockchain NFTs
2. $725m $FLOW ecosystem fund
3. @billboard launching NFTs #onFlow powered by @onunblocked this weekendFeels like things are just warming up tho.
What’s next?
— Flowverse – Discover Flow Blockchain (@flowverse_) May 11, 2022
Dapper Labs CEO Roham Gharegozlou noted on Twitter earlier today that the move will be “game-changers” for NFT projects on Flow such as NBA Top Shot, NFL All Day and UFC strike as it will offer them massive exposure to a global audience.
It also marks the one of the first major blockchain partnerships for Instagram. The social media company will also roll out support for NFTs on Ethereum and Solana.
The CEO also clarified that the $725 million worth of funding will be “mostly investment capital” and not grants handed out to projects that want to build on the ecosystem.
CryptoPunk sells for huge loss
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Read More: cointelegraph.com