NFT collection Azuki’s price drop, what is the relationship with the new Elementals?

Sell ​​Elementals

The floor price (minimum purchase price) of the anime art NFT collection “Azuki” has fallen by about 50% from the previous week as of the 1st. This week’s sale of the new NFT series “Elementals” has caused confusion within the community, which seems to have affected the price.

Azuki is run by ChiruLabs, founded by four anonymous Los Angeles-based people: Zagabond, 2pm.flow, location tba, and HoshiBoy. They aspire to build a metaverse, and purchasing 10,000 of Azuki’s exclusive NFTs grants a membership called “The Garden.”

The new series “Elementals” is Azuki’s new NFT collection of 20,000 pieces and serves as an additional membership to “The Garden”. The series aims to attract diverse participants and expand IP.

When 10,000 of them were pre-sold to Azuki and Beanz holders, they sold out in just 15 minutes, raising about $38 million worth of Ethereum. The remaining 10,000 were airdropped to attendees of the “Follow the Rabbit” event hosted by Chiru Labs in Las Vegas.

However, there was a flurry of criticism that Elementals’ design variations were scarce, and that there was some duplication. It seems that floor prices, including the original (OG) Azuki collection, have fallen due to concerns about dilution of value due to increased supply.

unbelievable… my fire head is duplicated?!? pic.twitter.com/weCyMNyLun

— A-Raving-Ape.eth (@a_raving_ape) June 28, 2023

connection:A scandal for the popular NFT founder, Azuki’s floor price drops 50% from the previous day

Azuki’s vision

The Azuki team interacted with the community on Discord on the 30th. Team key figures Zagabond and Steamboy joined us to talk about the current state of Elementals and the outlook for the Azuki ecosystem as a whole.

According to major Azuki holder Arcanic, the team has experimented with many versions and body types to recreate the particular appeal that the OG Azuki collection had, but admitted that they fell short of their goals.

As a solution to this, the team has indicated that it will make Elementals upgradeable and will seek community input to explore art styles.

New Product Soon: Collector Status

They are building a new system for rewarding holders, with factors playing into future utilities such as:

– Holding OG Azukis
– Time Held
– Traits

Holding rare/special traits from the Azuki collection gives utilities that Elementals WON’T get

—Arcanic (@ArcanicNFT) June 30, 2023

The Azuki team is committed to keeping OG Azuki at the heart of the ecosystem going forward. This ensures that OG Azuki holders get priority access to future events, new releases and other activations.

The Azuki team has consistently focused on providing experiences through NFT ownership, and explained that they plan to build offline events and high-quality video content. Currently, he has revealed that he has started production of an animation series, and said that it will be a new attempt to further deepen Azuki’s story.

The animated series comes in short form and the entire production process is funded by the team itself. Core member Zagabond revealed his vision of giving viewers the experience of interacting directly with characters from the world after watching anime. This could be accomplished using Twitter, a web application, or a specific token, he said.

Azuki is also exploring various avenues to recognize “collector status” for long-term holders and holders of tokens with rare properties and to offer rewards to holders, Arcanic said. Says.

connection:Azuki celebrates 1st anniversary with release of online city ‘Hilumia’

The post NFT collection Azuki’s price drop, what is the relationship with the new Elementals? appeared first on Our Bitcoin News.