Blue-chip NFT Azuki has released Azuki Elementals from the same series. Only those who hold Azuki and Beanz are eligible to purchase it. The price is 2ETH.
With trust in the Azuki project's narrative and delivery capabilities, the community minted 10,000 ETH in 17 minutes, and the team earned 20,000 ETH, about 37 million US dollars, in a short period of time. Subsequently, these 20,000 ETH were quickly transferred to the project's multi-signature wallet.
The community was stunned when Azuki Elementals was released, there was almost no difference between the two series of pictures;
Afterwards, Azuki Elementals fell below the issue price, with the floor price being 1.3ETH; Azuki also fell to 9ETH, a drop of more than 28%, and Hongdou BEANZ fell by as much as 45%.
The NFT market has become even more bearish during this period. The floor price of BYAC has fallen below 38ETH, while the bull market high was 150ETH.
A few days ago, someone sorted out the floating losses of the Boring Ape held by celebrities. The Boring Ape purchased by Li Ning had a floating loss of 290,000 US dollars, and Zhu Xiaohu had a floating loss of 410,000 US dollars.
Although the funds invested by the big guys in NFT are just a drop in the bucket, it also shows that the entire NFT market has fallen sharply, with liquidity and popularity dropping significantly.
Some time ago, a big investor in NFT, Maji Da Ge, announced that he would withdraw from NFT and clear out most of his NFT holdings, resulting in a huge loss of 2 million US dollars.
Some people say that the operations of these big guys are just a game between the left and right hands, while others say that the blue-chip NFT market is experiencing large-scale profit-taking, and those who cannot sell at high points are destined to only experience brief ecstasy in their hearts and then return the profits to the market.
A friend of mine spent 38 ETH to buy an Azuki during the bull market and has held it for more than a year. He really loves Azuki and silently supports many community activities.
In this deep bear, I bought 2 more Azuki Elementals, but was hit by a deep cut by Azuki, which made me feel endless emotion.
Boring Ape, once the ceiling of NFT, no longer tells stories, and there are few hot topics recently;
As one of the earliest NFT projects, Cypherpunk has long been a symbol of identity, and there are no orders in the market. However, judging from the recent transaction records, the transaction price is around 45ETH.
In the bear market of the crypto market, the disadvantage of NFT's lack of liquidity has been continuously magnified, and the NFTs held cannot be sold, or suffer losses from the double decline of the floor price and ETH.
Some people say that after the bear market, we need to go from individual retail investors to mid-level investors and KOLs, then to project owners and exchanges, and then the entire market plummets. There is no creation without destruction, and only when we fall to the bottom can we have a chance to fight back.
Now, individual small players have been harvested to the point where they have little voice and liquidity; large players are being harvested through whitelists or unique subscription identities. For example, Azuki Elementals harvested all Azuki holders;
What may follow is fighting and running away among the project parties; and after that, I don’t know whether there will be the risk of an exchange collapse.
The bear market is too brutal. Although various new ways of playing continue to be launched, I don’t know which one is a huge pit. The more I struggle, the less principal I have. I am either trapped in this project or in another project or my capital is reduced to zero.
In a bear market, you may really just have to wait and not lose money easily. For example, find a part-time job in web3, continue to learn and ensure income, accumulate funds and wait for the right time.
Chu Xiaolian has looked at many web3 work platforms, ranging from technology, to content, to community operation and other work contents; from front-end and back-end designers, from copywriting, to community administrators, etc., maybe there is a job that suits him.
Even if you can't find a job, you can still improve your corresponding skills in a targeted manner according to the job requirements. This can be considered a way to stay (survive) in a bear market.
In the falling crypto market in 2023, no one knows how long the waiting road will be, how the market will head in the future, and most importantly, how to stay and wait for the opportunity.
The market is not easy, please be aware of the risks.
The above is just my personal opinion, no investment advice. I am Chu Xiaolian, I am following web3 and the crypto world.
