Azuki NFT is an anime-inspired profile photo NFT series launched by Chiru Labs on January 12, 2022. Azuki released 8,700 NFTs during the public sale, with an initial minting price of 1 ETH (about $3,379 at the time). However, within three minutes of the public sale, the Azuki series of NFTs sold out at a minting price of 1 ETH, generating revenue of $29.3 million. Azuki's popularity grew rapidly, with daily trading volume reaching more than $30 million, and the floor price rose from 1 ETH in the public sale to 28 ETH in early April.

This is the transaction data ranking on opensea, which shows Azuki’s influence in the NFT world!

Azuki Elementals

Yesterday, Azuki released Azuki Elmentals. Due to various problems, the Azuki building collapsed overnight. The Azuki community also turned against Azuki.

First let's look at the problems that arise when publishing Azuki Elmentals:

1. Problems with Mint

Azuki holders only had 10 minutes to mint. This overloaded the site with traffic and caused errors on the site. This stopped many people from minting.

Even a whale holding a large amount of Azuki cannot cast

2. Serious delivery homogeneity and value dilution

Many NFTs look indistinguishable from Azuki.

It was even jokingly called a spot-the-difference game by netizens.

The lack of novelty and sincerity in the nesting doll game is causing the NFT community to lose interest and trust. Only when brands follow the development path of bringing premium to identity recognition can they better gain user trust.

Why spend 10 ETH on Azuki when you can buy Elemental for 1.5 ETH and get a pfp that looks almost the same.

And Azuki Elemental also has serious quality issues.

3.Mint Price

If you don't provide any preview in advance and charge 2 ETH for the minting fee of basically the same artwork, I believe many people are willing to mint this

4. Azuki team’s outrageous operation, altered picture (circulated on the Internet)

Azuki is going to change the image, which is to change the decentralized and unalterable NFT that has already been sold.

PS: The last time OpenSea removed a project due to a technical failure, it was the rugged domestic project Ali.

Azuki's overall price plummeted

In summary, these outrageous things have caused a setback in the confidence of the community and the NFT market.

This is a major blow to the NFT market and the Azuki community. Many KOLs in the Azuki Chinese community have expressed their dissatisfaction. Many people have bought Azuki beans in order to obtain mint qualifications. As a result, the price of Azuki beans has plummeted, and the long-term holders of Azuki beans have been inexplicably caught in the crossfire.

In addition, the project owner transferred 20,000 ETH in batches at the speed of light shortly after the issuance.

This time, the operation of the Azuki project has made the already bad NFT market worse, and has discouraged a large number of NFT enthusiasts. Some time ago, Azuki rose against the trend and was called the light of NFT. The market is changing rapidly. I believe that the project party will give users a perfect solution. After all, there is no need to rug for such a large project.