Twitter Declares Azuki NFT dead as price drops 45%

The host of a Twitter Space titled “The Death of Azuki” has announced that “Azuki is dead.”

The bold assertion follows the release of a blog post from pseudonymous Azuki founder Zagabond.

Zagabond shared that he was previously involved in a few poor NFT projects that some labeled as “rugpulls.”

Within hours of Zagabond’s post being published, the Azuki collection’s starting price, or floor price, declined from roughly 19 ETH ($41,800) to about 10.9 ETH ($24,000).

Self-described “on-chain sleuth” ZachXBT expressed concerns about the Azuki founder’s blog post and accused Zagabond of “rugging” on previous projects.

A rugpull is when an NFT project founder releases a project with an ambitious roadmap, only to abandon said project (with their money) after the primary sale.

Zagabond has denied the rugpull accusations levied against the Tendies.