NFT Project '2426C' Allegedly Collapses, No Updates Since April 2023

According to PANews, the NFT project '2426C', led by Chen Guanxi in February 2022, is suspected to have collapsed. There have been no updates on the official Twitter and Instagram of '2426C' since April 6, 2023, and the Discord channel appears to be quite deserted with no signs of operation. Attempts by netizens to inquire about the situation on Chen Guanxi's Instagram account have gone unanswered. In the early stages of the project, Chen Guanxi shared an NFT that had the highest transaction price at the time. However, its value has plummeted from 18.88 ETH to the current 0.025 ETH. Furthermore, it was reported that the total income from the NFTs Chen Guanxi endorsed was approximately 38 million RMB. In addition to Chen Guanxi, NFT projects endorsed by other artists such as Yu Wenle are also nearing zero. This situation raises questions about the sustainability and profitability of such projects, and the potential risks for investors.