Ragnarok

According to a recent blog post, 0xfanfaron, CEO of nonfungible tokens (NFTs) gaming project Ragnarok, apologized publicly for his missteps in leading the company. Ragnarok is a crypto startup that brought in $15.5 million worth of Ether (ETH) for gaming development in April through its first-ever NFT sale. However, 0xfanfaron disclosed: “We exchanged the ETH from the mint for 15.5 million in USD Coin. As it turns out, this was a good move in treasury management. But when ETH’s price went down, I made mistakes by buying ETH multiple times when I thought it was an advantageous investment for the project.” 0xfanfaron further elaborated that he sold the firm’s Ether positions through a series of trades with the plan to reinvest at a “better time.” The ventu...