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- 1 Founded by Zagabond, Azuki is a popular NFT collection on Ethereum.
- 2 It started with a collection of 10,000 avatars inspired by anime artwork.
Azuki was released in January 2022, and is one of the most successful non fungible tokens (Nft) launches. The NFT generated an estimated $29 Million during its release, and thus, grabbed the attention of the whole NFT market. This NFT uniqueness is compared to the combination of the 3D game, the skateboarding magazine Thrasher and The World Ends.
Located in Los Angeles, Azuki was created by Churu Labs which consists of a group of artists and developers, all having backgrounds in tech, crypto, and gaming.
Azuki NFT Attributes and History
Previously, it was planned that this collection would be launched using the Dutch auction. It was also planned to set the starting price of 1 ETH for 8,700 NFTs, and then in every 20 minutes, the price would be deducted by 0.05 ETH until it would reach 0.15 ETH. But, the collection was sold out in three minutes and hence, no deduction in price followed. Besides, all NFTs were minted at 1ETH.
After the launch, the value of Azuki escalated very fast. In a month after its launch, it has now become the eighth most traded NFT collection worldwide, competing with Bored APe Yacht Club and CryptoPunks.
These are simply unique PFP NFTs, which means they are designed to be used as profile pictures. Azuki developers have involved a roadmap forecasting the 3D experiences, native currency $BEAN, Azuki themed merchandise (outlets).
It has given access to all the holders to The Garden, where they can collaborate with other NFT projects, tickets to live events, clothing, Azuki drops etc. In January 2023, the roadmap further showcased the offer of providing streetwear to members of The Garden, and also the creation of Gallery Metaverse, and plans for Meta-games in the community.
Azuki launched a new collection in April 2022, called Azuki Beanz. It is more affordable than Azuki. Now, Azuki consists of 30,000 NFTs and each holder has a mystery box having a unique character from the Beanz collection.
In May 2022, Azuki was involved in a controversy. When Zagabond announced he was behind three projects namely Tendies, CryptoPhunks, and CryptoZunks, then CryptoPhunks seems to be the major issue as it was considered a rug pull when its team disappeared. Linking to this issue, many question the validity of Azuki. This leads to the decrease in the floor price from 19ETH to 10.5ETH.
On May 10th, Zagabond addressed the controversy on Twitter that he transferred the communities, and then tried to clarify his actions by saying that there is no rulebook for creators to follow. Regarding this, many who work with Zagabond said he was dishonest and failed to communicate with the team. Despite this ongoing truffle, buyers of Azuki actually increased.
Current Price of Azuki as Per Analytics
Azuki has a total volume of 573,441 ETH, floor price is 12.2 ETH. In the last 24 hours, it has had a volume of 3,977 ETH, which is up by 182%. It has 285 sales, and the floor price is maintaining at 12.2 ETH in the last 24 hours.
Azuki #8724 is sold at the lowest price of 12.2 ETH, whereas the highest price sold out is 1,337 ETH for Azuki #1468.
It has 4,615 owners. As per data from OpenSea, 74% means 3,428 owners hold 1 item, 19% means 868 owners hold 2-3 items, 5% means 246 owners hold 4-10 items, 1% means 45 owners hold 11-25 NFTs, and 0.3% means 16 owners hold 25-50 items, 0.3% means 12 owners hold 51+ items.
There are a total 4.62K holders and 57 Whales. As per the chart from OpenSea on January 12, 2022, the number of holders were 3,566 and whales was zero, while on June 27, 2023, the number of holders are 4,617 and whales are 57.
Summary
Azuki did not have a good reputation in 2022, it still gained investors due to its floor price of 14 ETH in January 2023. It has expanded its team with Azuki Beanz and thus, showcased its future prospects.
Besides this, investment requires thorough research of NFT including the affordability and long term plans of the asset.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
