NFT Founder Suddenly “Dies” During Project Minting

An NFT founder suddenly “died” during the project’s minting.
Many people believe it to be an insensitive and lame excuse to say that the project is rug-pulling.
NFT trading volumes have dropped by 97% from an all-time high of $17.2 billion in January 2022.

As if the current space of the NFT isn’t as dismal as it is, a new modus is being brought into the light. Some people think it’s one of the most insensitive and lame excuses to say that the project is rug-pulling.

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In detail, one screenshot of a discord chat has been disseminated online about an NFT project that “sold out.” Right after the next tweet, the moderator said that one of the project founders has died during the minting process and that the entire project is now up for sale.

While the name of the project was not indicated, some commenters said they believe it to be Nyolings.

For its part, Nyolings has not made a statement confirming whether the allegations are true.

A further delve into the comments section reveals that this event is not the first of its kind. Some people claimed that other NFT projects have done the same, albeit with some slight modifications.

For instance, someone claimed Untamed Elephants did a similar thing, which another person affirmed.

Earlier, CNL reported that the NFT market’s collective trading volume has plummeted by 97% from its all-time high (ATH). From as high as $17.2 billion back in January 2022, September closed at almost $500 million only.

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Jesus Dawal

Jesus Dawal Jr covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.