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Paraspace NFT protocol ‘usurper’ resigns after failing to overthrow CEO

Update (5/19/2023 14:25 UTC): This article has been corrected to reflect that Thomas Schmidt and Jay Yao are (or were) consultants of ParaSpace NFT. A previous publication of this article erroneously named the two individuals as co-founders. Cointelegraph regrets this error.

The ParaSpace nonfungible token (NFT) protocol saga over the whereabouts of the protocol’s fund took another turn on May 19 as the project’s consultant Jay Yao resigned from his position in the company. Last Week, the NFT protocol made headlines over the missing funds and a barrage of accusations by executives and the CEO against each other. In a statement to Cointelegraph, a spokesperson for ParaSpace wrote:

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