On-chain analyst ZachXBT has accused the newly launched zkSNARKs PFP project on Zcash of extracting around $17M from investors, arguing that the collection offers little practical utility.
zkSNARKs pulled 16,971 bids for 8,000 NFTs, clearing at 1.5 $ZEC each.
The project distributed 8,000 NFTs at a 1.5 ZEC clearing price. ZachXBT claims 10% went to the team, another 5% was allocated to royalties, while only around $2,000 was spent on minting.
He argues the project offers little practical utility and resembles the “quick money and run” model seen in some past Ordinals launches.
Hmmmm… What do you think about this?
zkSNARKs pulled 16,971 bids for 8,000 NFTs, clearing at 1.5 $ZEC each.
The project distributed 8,000 NFTs at a 1.5 ZEC clearing price. ZachXBT claims 10% went to the team, another 5% was allocated to royalties, while only around $2,000 was spent on minting.
He argues the project offers little practical utility and resembles the “quick money and run” model seen in some past Ordinals launches.
Hmmmm… What do you think about this?
