Kanpai Pandas NFTs Dropped 45%!
The price base for Kanpai Pandas NFTs has dropped by 45% due to allegations that the team is introducing a Donald Trump-themed token. The token was later rejected by the Trump family, leading to a massive loss in the value of the NFT collection.
The Kanpai Pandas NFT collection experienced a significant loss of value on August 9. According to data from NFT marketplace Blur, the price base for the Kanpai Pandas collection dropped by 37.44% in 24 hours and by 40.13% in the last seven days.
The price base, which was at 0.775 Ether on August 8, dropped to 0.42 ETH on August 9, a decrease of approximately 45%. Currently, the price floor has fallen to 0.46 ETH, which is equivalent to approximately $1,220.
The reason for this decline is attributed to the claims that the Kanpai Pandas team introduced the Restore the Republic (RTR) token, a Donald Trump-themed token. The token was introduced as Trump’s official token. However, Donald Trump’s son, Eric Trump, categorically denied that this token has any connection to the family.
The price of the RTR token dropped by 95% after the Trump family announced that they had no interest in the token. This confirmed previous claims that the Kanpai Pandas team introduced the token.
The Kanpai Pandas community was targeted by community members who saw the team promoting the token on the X platform, following the Trump family’s denial of affiliation with the token.
An X user, “Legacy Ape,” shared screenshots showing the Kanpai Pandas team introducing the token. Additionally, another community member shared a screenshot claiming that Kanpai Labs is behind Google ads for the token.
Following these events, Kanpai Pandas founder Ice Bagz gave a vague response to Donald Trump Jr.’s post on X. Bagz thanked people who “sent love” during the discussion.
However, community members stated that before the tweet, Bagz told his followers to buy the token, thus insulting the Kanpai Pandas founder. Another
Following these developments, an X user shared a note recommending not to commit fraud when developing a successful project. This created great discomfort in the Kanpai Pandas community and caused a serious loss in the value of the NFT collection.
Overall, these events showed how fragile trust in the NFT market can be and how projects must ensure transparency and community trust.
