ZachXBT questions zkSNARKs NFT project: raised over $17 million, with little to no ecosystem development

Odaily News: On-chain detective ZachXBT retweeted the zkSNARKs NFT auction results and questioned the project, calling it an ordinary 10,000-piece PFP NFT collection that lacks real utility and ecosystem development after raising eight-figure funding, while also questioning its team's fund allocation and royalty mechanism.

According to zkSNARKs disclosures, the auction received a total of 16,971 bids, all 8,000 NFTs were fully allocated, the clearing price was 1.5 ZEC, and total trading volume reached 25,305 ZEC, approximately $36.94 million based on the price at the time of disclosure, with an expected refund of 13,309 ZEC.