Internet sleuth ZachXBT disclosed in a tweet earlier today that the Friendsies.ai project experienced a significant rug pull that caused $5.3 million in investor funds to vanish.
Moreover, he added that there have been no remarks from the team since September, and neither a P2E game nor a community treasury has been created, making it now impossible to determine where the missing funds have been spent.
However, the Friendsies team allegedly attributed the rug pulls to market instability, leaving investors questioning how and why their money disappeared. The incident occurred today, although the period before the severe rug pull is unclear.
The NFT team later announced through Twitter that they would temporarily shelve Friendsies and all other digital items until the market stabilized.
As if that weren’t enough, the project’s creator, Friendswithyou, made their Twitter account private immediately after the account was removed, fueling speculation that they had settled on a $5 million agreement.
Nonetheless, in the subsequent Twitter dialogue that began some 17 hours after the cease notification, the project’s authors admitted that they had received a torrent of harassment and threats.
Twitter users also criticized Rug Radio presenter Farokh and generative artist Jen Stark for first hyping the collection on the social media platform.
Friendsies market forecast
According to OpenSea’s data, the Friendsies have resulted in the floor price of the collection falling to 0.0142 ETH with a 3,776 ETH trading volume. The Netherlands auction started at the cost of 3.33 ETH at the commencement of the minting procedure.
Launched in March of last year, Friendsies is a network of 10,000 Ethereum-based NFTs. It promised to provide each bearer a unique digital companion they could use for play-to-win games akin to Tomogatchi, real-world encounters, art installations, and the metaverse.
At the time of writing, 3,323 people are the proprietors of Friendsies NFTs.
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