In a tweet this morning, Sean Bonner confirmed that Zagabond has officially transferred ownership of the Phunks smart contract to the community. After a long and agonising wait, the drama is finally over, and the Phunks NFT community can now decide the project’s future.
The Phunks NFT contract is now in the hands of @chopper__dad, who is the lead developer of Not Larva Labs.
In a tweet, Not Larva Labs said, “Congratulations, Phunk Pham, The lead dev of http://NotLarvaLabs.com @chopper__dad has officially received ownership of the CryptoPhunksV2 smart contract. This is a pivotal and historical moment and proof of the POWER of decentralization. PHUNKS.”
Previously, Zagabond, the founder of Azuki, was in control of the Phunks smart contract. However, in recent days, he has come under fire. It emerged that he was behind numerous other NFT projects that have failed. These projects are CryptoPhunks, Tendies, and CryptoZunks.
Phunks NFT community now has complete control of the project
In his apology, Zagabond stated, “I realized my shortcomings in handling the prior projects I started. To the communities, I walked away from, Azuki holders, and those who believed in me — I’m truly sorry.”
Although this is a bad week overall for the NFT and Crypto community, it is a wonderful week for Phunks holders. Now, they have complete control of the smart contract and can look forward to the future.
It is a massive community, and Phunks have suffered some huge setbacks, including an OpenSea delisting. However, now that Zagabond has transferred the smart contract, they can think about what they will do next. Hopefully, it will continue to grow and build on its community.