Kanpai Pandas NFTs experienced a 45% drop in floor price amid claims that the team promoted a Trump-themed token, later disavowed by the trump family.
On Aug. 9, data from the NFT marketplace Blur showed that the Kanpai Pandas collection’s floor price fell by 40.13% over the past week. The price dropped from 0.775 Ethereum (ETH) on Aug. 8 to a low of 0.42 ETH on Aug. 9, marking a 45% decrease. The current floor price is 0.46 ETH, equivalent to $1,220.
Founder of the Kanpai Pandas NFT collection, Ice Bagz, and team members reportedly promoted the RTR token, which claimed to be an “official” Trump token, causing the collection’s floor price to decline. However, Eric Trump, Donald Trump’s son, has strongly refuted any association between the token and the Trump family.
Kanpai Pandas team faces community backlash
After the Trump family denied any involvement with the RTR token, its price crashed by 95%. Consequently, the community targeted Kanpai Pandas team members who had promoted the token on X before any official statements from Trump.
An X user named “Legacy Ape” posted screenshots showing team members promoting the token on X. Meanwhile, another community member shared a screenshot claiming that Kanpai Labs was behind the token’s Google ads.
After the Trump family denied any involvement with RTR, Ice Bagz offered a vague reply to Donald Trump Jr.’s X post and thanked those who “sent love” during the controversy.
A community member replied to Bagz, accusing him of urging his followers to buy before the tweet and insulting the Kanpai Pandas founder. Another X user said that Bagz and his team are now playing the “confused victim card” after supposedly making millions.
Meanwhile, an X user responded with a note:
Don’t be a scammer if you’re already building a successful project.
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