ZachXBT Questions zkSNARKs NFT Project After Auction Results Are Shared

On-chain investigator ZachXBT reposted the zkSNARKs NFT auction results and questioned the project, calling it a standard 10,000-piece PFP NFT collection that lacks practical use and ecosystem development after raising eight figures in funding. He also questioned the team’s fund allocation and royalty mechanism. According to Odaily, zkSNARKs said the auction received 16,971 bids, all 8,000 NFTs were allocated, and the clearing price was 1.5 ZEC. The total trading volume reached 25,305 ZEC, which the project said was worth about $36.94 million at the time of disclosure, and 13,309 ZEC is expected to be refunded.