Friendsies NFT Collection Deletes Twitter After ‘Pause’ Announcement Spurs Rug Pull Accusations


21 February 2023 17:00, UTC


Studying time: ~2 m

Non-fungible token (NFT) assortment Friendsies is in sizzling water after saying a “pause,” and deleting its Twitter – sparking rumors that the venture is a rug pull. The preliminary drop of the NFTs in 2022 raised roughly $5 million.

The favored assortment, that includes whimsical avatars, mentioned on Twitter on Monday evening that they might pause creating the gathering, citing market circumstances because the catalyst for the gathering’s hiatus.

“We had the very best intentions to make a real digital companion for the longer term,” Friendsies mentioned on Twitter. “Nonetheless the volatility and challenges of the market have made it very troublesome to maneuver this venture ahead in a means we might be pleased with.”

Based on Friendsie’s web site, the venture got down to mint 10,000 Friendsies, partnering with public sale home Christie’s in March, 2022 to promote 9 early-access mint passes to the gathering on secondary market OpenSea to assist enthusiastic collectors mint the rarest Friendsies.

Shortly after the gathering’s tweet, customers who replied with questions discovered their accounts blocked and never lengthy after that, Friendsies deleted their Twitter account. Twitter customers additionally pointed fingers at Farokh, host of Web3 present Rug Radio, and generative artist Jen Stark and who each promoted the gathering on Twitter in its early days.

Based on information from OpenSea, the gathering’s flooring worth is presently 0.011 ETH, or about $18, with a buying and selling quantity of three,774 ETH or about $6.3 million. When the gathering’s mint kicked off, its Dutch public sale opened with a beginning worth of three.33 ETH, which on the time was about $12,000 per token.

Friendsies had massive ambitions from the beginning – in line with a Discord submit, the gathering got down to enable holders to entry a play-to-earn sport. It additionally laid out plans for a neighborhood treasury and upcoming blueprint to develop the model’s IP – none of which got here to fruition.

See Additionally: Logan Paul Named in Proposed Class-Motion Go well with for CryptoZoo ‘Rug Pull’ After CoffeeZilla Expose

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