Azuki’s creator is under pressure, CryptoPunk sells at a significant loss, and more

Instagram has teamed with Dapper Labs to bring out Flow NFT support, while the founder of the Azuki NFT project has been accused of abandoning three projects.

Yesterday, the founder of the $723.5 million Azuki nonfungible token (NFT) project “Zagabond” sparked a ruckus by admitting that they had previously worked on three failed NFT projects. They have now apologized for their “shortcomings” after receiving considerable criticism from the NFT community.

Tendies and CryptoPunks clones CryptoPhunks and CryptoZunks are the three projects in the discussion. All three, according to “Zagabond,” failed to owe to a lack of community support and other causes such as team members quitting or expensive Ethereum gas expenses.

The majority of responses to “Zagabond’s” honesty about the trial and error road that led to Azuki NFTs came after the blog was released on Twitter. Other members of the NFT community, on the other hand, were less enthusiastic.

“So does Web 3.0 Entail rugging three projects in less than a year?” tweeted Twitter user zachxbt, without equivocation. before going through certain alleged wrongdoings involving CryptoZunks developers posing as women in order to sell the project.

Other individuals, such as dxv eth, claimed that “Zagabond” committed to developing a marketplace for the CryptoZunks project and acquiring pieces of the metaverse in order to support the ecosystem, but subsequently abandoned the community.

Beeple and Madonna
Madonna and NFT heavyweight Beeple have collaborated on a tokenized art series that represents the singer as the mother of creation, development, and technology.

All three NFT art pieces feature Madonna giving birth to diverse plants, butterflies, or mechanical centipedes.

On Wednesday, the NFTs will be auctioned off via SuperRare. All of the revenues, according to Madonna, will go to three distinct charitable organizations: National Bail Out, V-Day, and Voices of Children.

Flow NFTs will be supported by Instagram.

Dapper Labs has announced a collaboration with Instagram that will see Flow-based NFTs enabled. This comes after the company established a $725 million ecosystem fund to foster growth on its Flow blockchain this week.

The move will be “game-changers” for NFT products on Flow including NBA Top Shot, NFL All Day, and UFC strike, according to Dapper Labs CEO Roham Gharegozlou, who said on Twitter earlier on Wednesday that it will provide them tremendous exposure to a worldwide audience.

It’s also one of Instagram’s first significant blockchain collaborations. Support for NFTs on Ethereum and Solana will be added by the social media firm.
The $725 million in funding will be “primarily investment money,” according to the CEO, rather than subsidies given to initiatives that wish to improve the ecosystem.

CryptoPunk is sold at a significant loss.

On Sunday, an NFT from CryptoPunks, one of the earliest NFT ventures, was sold for an 86 percent loss.

CryptoPunk #273, which sold for $1.003 million in October and was worth 265 Ether (ETH) at the time, has now fallen out of favor during a volatile moment for the crypto and blockchain sectors, selling for only $139,836 on Sunday morning.

CryptoPunks by Larva Labs grew in popularity during 2021, and the project was recently bought by Yuga Labs, the firm behind the wildly successful Bored Ape Yacht Club NFTs, in March. However, the change does not appear to have had much of an immediate impact on the market.

This week, Meta CEO Mark Zuckerberg announced that the firm would begin testing digital collectibles on Instagram, the photo and video sharing platform, indicating a shift toward NFTs.

Commercial smart contract adoption, according to billionaire investor Mark Cuban, will be the next stimulus for the crypto and blockchain industries. He claims that networks that merely provide NFTs and DeFi for the sake of it would eventually fail.