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Singapore Azuki Holders Aren’t Selling Despite Zagabond Controversy

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“I never thought something like this could happen to Azuki, but that’s just the craziness of NFTs.”

TerraUSD holders and Azuki holders are battling over who’s having the worst week. For Azuki holders, their once beloved NFT collection has been tarnished by its project’s leader, who revealed he was behind previous “rugged” projects.

Read more: [UPDATED] Rugpull or Failed Project? Azuki Founder’s Revelations Ignites Community Furore

To find out how Azuki holders in Singapore are reacting, the Blockhead team went down to New World Carnival‘s Azuki holders event in 313 Somerset.

Vinson Keefe – owner of the NFT gallery – holds one Azuki and three Beanz. “The community may not be able to forgive the founder, but the community will always stand strong because they’re heavily invested other Azuki projects,” Vinson told us. “Either way, I don’t think Azuki’s floor price will go down the drain.”

He went on to reveal that he won’t sell his Azuki as he tends to not sell his NFTs unless he makes 4x his investment. “In this case I’m holding and will watch the market for a few days before I decide to get another Azuki.”

Another Azuki holder with two Beanz, who goes by the name of “Yap”, said his thoughts regarding the Zagabond situation were “neutral.”

“I appreciate that Andrew [Wang] held the Twitter Space for Zagabond and wasn’t that harsh,” Yap said. “With regards to the founder himself, we all make mistakes. We all fall down at times. And people being blackmailed – I can understand that.”

Rumours on Twitter suggest that Zagabond was being blackmailed to release the blog post about his involvement in the previous “rugged” projects.

“Moving forward, the team should show some empathy. In this space, no one wants toxic behaviour. We all want to move forward.”

Yap says he “still wants to be a part of the Azuki family” and won’t sell. “I’ll still listen to them and see what’s next.”

20-year-old Chris holds one Azuki. The young student told us that he’s not too concerned with the situation.

“Zagabond has done things wrong in the past,” Chris stated. ” And I feel like it’s enough reason for people to sell what they’re holding now. But for people like me who enjoy the artwork and community, it’s just one of many things that could go wrong from a founder’s perspective. Personally it doesn’t affect me.”

“If it goes lower I’ll definitely buy more. Even if it’s a rugpull, it’s just an experience!”

Twitter user Noun_53 and Web3 and crypto investor revealed he holds five Azukis. “I’m pretty shocked about what’s happened,” he said. “It’s like a black swan event, some what blind sighted. I never thought something like this could happen to Azuki, but that’s just the craziness of NFTs.”

“I think that Azuki is going to take time to recover. We’re in an NFT bear market so it could take time. But I still think the team is top-notch, and I think they can deliver down the road so I’m still bullish.”

22-year-old Glen owns one Azuki, which he bought on Tuesday. “I don’t know much but I believe in their technology. Azuki is famous for their ERC721A. I bought it to help out the community.”

Winson, 34, also just bought an Azuki on Tuesday. “Everyone sees this situation as a disaster but the price dropped drastically over two days. People are panicking but to me it’s an opportunity. I don’t think the whole project has no value.”

Read more: TerraUSD Just Depegged and Everyone’s Panicking – Should You Be Concerned?

“I’ve been following their project for a while. I like their art and vision. I really like their BEANZ collection too. They have a lot of great new ideas to push forward the NFT market.”

VC investor Neil has three Azukis. He sold one last month in search of a different one, but now he’s not selling. “I’m not tempted to sell because I want to see what the Azuki team can deliver. People make mistakes. They didn’t do well on their AMA but they only have a small team.”