Azuki’s founder could face a lawsuit from the founder of fellow NFT collection CryptoPhunks. The latter also made allegations of fraud against the Azuki founder.
The CryptoPhunks founder has threatened a lawsuit against the founder of the Azuki NFT collection. The threat came amidst some revelations he made, which stirred up both communities.
CryptoPhunks Offers Revelations Amidst Azuki Lawsuit Threat
Pauly, the CryptoPhunks founder, said, ‘We gladly aid the Azuki community in their legal actions against Zagabond,’ the latter being the Azuki founder. He made several allegations, calling Zagabond a “pathological liar and serial criminal.”
He went on to say that, along with a colleague, he spent over a year tracking him to down recover $3 million in USDC that Zagabond allegedly defrauded. CryptoPhunks founder added that Zagabond and his team have “extracted well over $100 million from our communities.”
Azuki was a well-known NFT collection that was extremely popular for some time before being called out for its antics. It launched a new collection not long along, adding 20,000 new NFTs.
The new collection is called the Azuki Elements and had a starting price of 2 ETH.
Pixelmon was another NFT collection that found itself in hot water, much like Azuki Elementals. Check out our comprehensive guide on the collection to learn more about it: Pixelmon NFTs: Everything You Need to Know
However, the expansion’s auction was something of a debacle, with the crypto community stating that it was not significantly different from the original collection. The floor price subsequently tanked, though it still managed to raise 20,000 ETH.
Azuki has established a DAO to offer some improvement, though whether this will succeed remains to be seen.
CryptoPhunks Founder Also Faced Criticism
CryptoPhunks is an NFT collection that was created in July 2021 and describes itself as a punk version of CryptoPunks. It was created by Not Larva Labs, and this name by itself has stirred some controversy.
CryptoPhunks’ Pauly0x has faced his own criticism amidst the Azuki lawsuit. He managed to amass over $1.1 million in ETH in less than a day by calling for people to send it to an address — and said he would offer nothing in return.
Astonishingly, people sent him ETH anyway, with the largest donation amounting to $13,000.
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