The founder of NeoNexus which is a Solana-based NFT project has noted the committee is no longer evolving the project, denouncing the plunge in Solana costs for the decision. Rates suggest that the project boosted around 25,000 SOL for its NFT mints, which at recent rates would cost around $2.2 million. With SOL rates soaring to $150, the program may have earned an estimate of $3.5 to $4.5 million. NeoNexus is a Meta-verse project which features both a plotted utility and governance coin. It had sold above 4,000 property NFTs, with the program planning to give a further 6,000 property NFTs, vehicle, character and accessory tokens scheduled for the future. The project now has around 13,000 members in its Discord channel. As per the data, the vondition of the markets since the last few months have been rough along with the rate of SOL dropping over 50% in three months. It slams a 90 day high of just over $200 in December and since has steadily plummeted to exchange around the $80 mark.
Around 20 staff members of the parent company, Unlock DeFi had given up and asked if a community taking charge was feasible or not. Pseudonymous crypto scam investigator and writer, zachxbt, shared screen snaps of tweets by Shi in November, indicating the founder sitting in a car and bragging of riding in a Lamborghini. Zachxbt utilized these pictures to question how the program could boost to millions only to run out of funds in a few months. Several NFT projects promoted their own contributions when reacting to the NeoNexus tweet in an endeavour to lessen the losses some investors may have shouldered due to the statement. Several requested whitelists for forthcoming mints to those who acknowledged with NEONEXUS on their Discord channels. During writing, the websites for both the NeoNexus program and Unlock Defi were offline. Sources reached out to Shi and former workers for comment but did not shortly hear back.
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