Azuki’s new collection “Elementals” sold out in 15 minutes, sales over 5 billion yen | CoinDesk JAPAN | Coin Desk Japan

The popular NFT collection “Azuki” released a new collection “Elementals” on June 27, and collected 38 million dollars (approximately 5.2 billion yen, equivalent to 140 yen per dollar) in just 15 minutes.

“Elementals” was first announced at an Azuki owner-only event named “Follow the Rabbit” held in Las Vegas on the 23rd, and is based on Azuki’s four elements (earth, fire, lightning, and water). Some of the NFTs have been airdropped to holders.

The rest will go on sale in a Dodge auction format starting at 9:00 a.m. Pacific time on the 27th. First, Azuki holders were given a 10-minute pre-issue slot, followed by a 10-minute pre-issue slot for holders of the derived collection “BEANZ”. General sale was scheduled to start at 9:20.

To participate in the pre-sale, holders of Azuki or Beanz paid 2 ETH (approximately $3,800, or approximately ¥530,000 at a conversion rate of ¥140 to the dollar) as a deposit. The new collection sold out in just 15 minutes and was not sold to the general public.

Azuki Elementals have sold out in the presale with the entire allocation going to the Azuki and BEANZ community.

Trading and reveal will open shortly. pic.twitter.com/CVk3kRIqU6

— Azuki (@Azuki) June 27, 2023

According to Etherscan, Elementals has raised 20,000 ETH, or just over $38 million at the time of writing.

Many avid buyers, who themselves own Azuki and Beanz, tweeted that Elementals weren’t available to the general public, expressing frustration with the sales process. He pointed out the technical problems of the platform and the short sales period.

went from the highest highs to the lowest lows, all I got were errors and was ready to mint 20 ELEMENTALS, instead I got ZERO

— illen (@illumanbeing) June 27, 2023

I went from high to low, but all I received was an error, I was preparing to issue 20 ELEMENTALS, but ended up with zero.

Chris Lepensky, data chief at DAO operator Utopia Labs, said many Azuki holders were unable to issue NFTs due to “website errors and contract issues.” rice field.

Location tba, one of the co-founders of Azuki and its parent company Chiru Labs, tweeted that the publishing experience “was not up to Azuki’s standards.”

We hear your feedback loud and clear. The mint experience was not up to the Azuki standard. Want to give some clarity on what happened during the presale and some general thoughts

1/8

—locationtba (@locationtba) June 27, 2023

“We underestimated the time required for Phase 1 and Phase 2 pre-sales for Azuki and Beanz holders,” he tweeted.

“We should have extended the time to 10 minutes or more to ensure there was enough buffer in the event of a problem (which it did).”

Of the 10,000 NFTs prepared for this sale, 7,600 were issued (purchased) by Azuki holders and the rest by Beanz holders.

“Both the team and I are disappointed with this,” Location tba wrote.

After the issuance, Azuki released the artwork of the NFT and allowed trading in the secondary market (secondary market).

Little mermaid. @Azuki pic.twitter.com/VHJzsNafUv

— MrGary.eth (@Mr_Garyy) June 27, 2023

｜Translation: CoinDesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Azuki Elementals (OpenSea)
｜Original: Azuki ‘Elementals’ NFT Mint Sells Out in 15 Minutes, Raking in $38M