Crypto Report: Beanwhale.eth's Azuki Acquisition Journey

Beanwhale.eth (@Rewkang) has emerged as a prominent figure in the world of Azuki, holding the title of the largest Azuki holder with an impressive stash of 299 Azuki . Let's delve into their recent purchasing activity and the financial implications involved.

Recent Acquisition

Approximately 20 hours ago, beanwhale.eth made a noteworthy move by investing 111.3 $ETH to acquire 9 #Azuki. Each of these tokens carried a price tag of 12.37 ETH . This transaction highlights beanwhale.eth's commitment to expanding their Azuki portfolio, despite the associated costs.

Cumulative Investments

In their pursuit of accumulating Azuki, beanwhale.eth has committed a substantial amount of capital. So far, they have spent a staggering ~4,071 ETH on approximately 296 #Azuki tokens. The average purchase price per token stands at approximately ~13.75 $ETH . This significant investment showcases beanwhale.eth's unwavering dedication and financial prowess.

Impending Loss

Unfortunately, the current floor price of Azuki sits at 9.65 $ETH . With their considerable holdings, beanwhale.eth could potentially face a significant loss. Based on calculations, it is estimated that the loss could amount to approximately ~1,200 $ETH . This impending financial setback emphasizes the volatile nature of cryptocurrency investments and the risks associated with them.

Wallet Address:- 0xff3879B8A363AeD92A6EABa8f61f1A96a9EC3c1e

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Nonfungible tokens ( #nfts ) have become a significant source of revenue for various projects within the ecosystem.

However, recent data from blockchain analytics firm Nansen indicates that Ethereum NFT royalties have hit their lowest point in two years.

This decline can be attributed to multiple factors, including the drop in the floor price of Bored Ape Yacht Club (BAYC) NFTs and the controversy surrounding the launch of the Azuki Elementals collection.

In this article, we will explore the significance of NFT royalties, analyze the impact of recent events, and delve into the top-earning NFT collections.

The Importance of Ethereum NFT Royalties

NFT royalties play a crucial role in funding the ongoing development of projects in the NFT ecosystem.

These royalties serve as a financial foundation for studios, ensuring that creators are compensated for their work and allowing them to continue creating innovative content.

By earning royalties, creators are incentivized to produce high-quality NFTs, contributing to the growth and sustainability of the NFT market.

Nansen Data on Ethereum NFT Royalties

According to Nansen’s data, NFT royalties reached their peak in April 2022, with creators earning an estimated $75.7 million in a single week.

However, the recent decline in royalties is evident, indicating a shift in the market.

#YugaLabs , the creator of #BAYC stands out as the highest-earning studio, with total royalties amounting to $165.5 million across its portfolio of NFT collections.

RTFKT follows closely behind, earning $79.9 million from collections such as CloneX.

#Azuki has also made a significant impact, accumulating $58.2 million in royalties from its various collections.

Other noteworthy studios include Proof, the creator of Moonbirds, which has generated $35 million in revenues, and Doodles, which has earned $27.4 million from its diverse collections.

Pudgy Penguins, known for its adorable NFT penguins, has amassed $8.3 million in revenue.

These numbers highlight the importance of NFT royalties in sustaining the growth and development of NFT projects.

Shifts in Royalty Distribution

Until 2023, Opean Sea the leading NFT marketplace, played a significant role in distributing royalty payments to NFT projects.

However, this changed with the emergence of Blur, a rival marketplace.

#Blur implemented a policy that mandated a minimum royalty of 0.5% unless projects opted out or enforced different percentages.

This policy shift led to a more equitable distribution of royalties, empowering creators and ensuring fair compensation.

Nansen’s data also reveals that Blur and OpenSea are now on par with each other in terms of the royalties paid through their respective platforms.

Notably, Blur tends to pay more royalties during periods of high trading volume.

This trend highlights the evolving landscape of NFT marketplaces and their role in supporting creators.

Read more: https://perseuscrypto.com/nft/ethereum-nft-royalties-reach-lowest-point-in-2-years/

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#Azuki DAO Proposes to Recover 20K ETH From Founder

Azuki DAO has proposed to claw back 20K ETH from the project's founder, Zagabond, following allegations that he may have rug pulled investors.

The proposal, which is still under review, would allow the DAO to reclaim the ETH that was sent to Zagabond's personal wallet. The ETH would then be used to compensate investors who were affected by the alleged rug pull.

The allegations against Zagabond stem from the discovery that he was previously involved in two other NFT projects, both of which were abandoned after investors lost money.

Zagabond has denied the allegations, but the DAO is moving forward with the proposal to recover the ETH. The proposal is expected to be voted on by the Azuki community in the coming days.

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