Original - Odaily
Author-husband how
Recently, Azuki reposted a tweet from the Weeb 3 Foundation on the X platform, which read Towards an open anime world. Everyone thought this was a repost similar to the slogan, but careful users discovered that the account was created in December last year, and the introduction said Create an open anime universe. Powered by ANIME tokens.
This has led the community to speculate that Azuki is about to issue coins, and the community is very happy about this. Azukis NFT holders have also posted messages on the X platform to celebrate. However, a few people questioned whether the team was short of money again and hoped to make another round of money by issuing coins.
No matter what, Azuki, as a blue-chip project, or issuing coins, still brings new traffic to the long-dormant NFT track. According to NFTGO data, Azuki-related series of NFTs have experienced skyrocketing prices. The floor price of Azuki rose to 8.2 ETH, an increase of 34.42%; the floor price of Azuki Elementals rose to 0.86 ETH, an increase of 50.87%; the floor price of Azuki Elemental Beans rose to 1.05 ETH. , an increase of 45.83%; BEANZ Official’s floor price rose to 0.69 ETH, an increase of 70%.
As a blue-chip project on the NFT track, Azuki went from being a blockbuster in the early days of its release to subsequent outrageous operations, and finally embarked on the road of issuing coins. Below, Odaily will review Azuki’s past, analyze the token value of similar projects after token issuance, and speculate on its future path.
Winning respect with his painting style, losing peoples hearts by overdrafting the communitys expectations
On January 12, 2022, Chiru Labs launched a series of anime-inspired profile photo NFTs called Azuki NFTs. A total of 8,700 NFTs were issued in this series during the public sale, with an initial minting price of 1 ETH (worth approximately $3,379 at the time). While the MINT price was high, the Azuki NFT sold out in just three minutes, generating $29.3 million in proceeds.
Azuki NFT quickly gained popularity, with daily trading volume reaching more than $30 million, and its floor price soaring from an initial 1 ETH to 28 ETH in early April.
The creative team of Azuki NFT is composed of a group of artists and developers from Chiru Labs. The team has backgrounds in well-known technology companies such as Facebook and Google, and has extensive experience in the gaming field. The team’s vision is to create a distinctive Metaverse brand that will be jointly established and owned by community holders.
The Azuki NFT has a mintage of 10,000, which includes 235 legendary levels, 745 rare levels, 180 classic levels, and 8,840 common level NFTs.
In general, Azuki quickly attracted market attention with its exquisite Japanese comic style, and its price continued to rise. It eventually became one of the blue-chip NFT representatives in the last bull market, and the community also attracted a lot of KOLs at the time.
Then in April of the same year, Azuki launched the Azuki Beanz series of 20,000 NFTs. Azuki holders can receive Beanz NFTs for free through airdrops. The team hopes to expand its influence and lower the threshold for user participation through this move.
But on May 12 of the same year, the project fell into a crisis of confidence. The founder Zagabond revealed his failed entrepreneurial experience and Rugs previous project. For the community, the founders irresponsibility worried about the development prospects of the subsequent Azuki project. Then the price of Azuki dropped sharply, from a high point to around 10 ETH.
The subsequent community still chose to continue to wait and see, and experienced a bear market. The NFT market lacked liquidity, and most NFTs had empty prices but could not be sold.
What really makes the Azuki project criticized by everyone is its Azuki Elementals series, which has been preheated for a year. With its cool promotional video, when the Azuki community learned that its new series was about to be released, they all prepared ETH to MINT the new series. NFT. This sale was first conducted by Azuki and Beanz holders MINT, and then publicly sold through the Dutch auction, but it was sold out during the Beanz stage. This financing amounted to 20,000 ETH. Such a hot sales scene and large amount of financing can not help but inject a shot in the arm into the NFT track during the bear market stage.
But the development of the story is always full of ups and downs. After the Azuki Elemental Beans picture was opened, what came into view was a small picture that was almost the same as Azuki, which completely ignited the anger of the community. Many well-known long-term holders, such as the big Azuki owners, Princess Christine, Alpies and Kongereth have all publicly chosen to liquidate all Azuki NFT series they hold. Among them, Christine said that this incident made her lose trust in the teams ability, and she would hand over the management of the Chinese community.
From Princess Christine’s remarks, it is not difficult to find that the public outrage caused by Azuki’s behavior was followed by the decline of all Azuki series. People can’t help but lament that the last strong blue-chip project in the bear market has come to an end.
Looking back at the development history of Azuki in the past two years, exquisite painting style and lofty vision are the main themes of the NFT project, but the over-consumption community is the reason why it has been criticized. So as Azuki is approaching its second anniversary, can it win over people with its coin issuance?
Can Azuki’s original vision be realized through currency issuance?
Previously, the development path of many well-known NFT projects took currency issuance as the last stop. However, after the token is issued, it seems that the correlation between the token and NFT, and the role of the token in subsequent launch projects, is minimal. It is inevitable to be criticized: the issuance of coins is the pension pre-deposited by the NFT project for the team.
Looking back at the previous token issuances of two well-known NFT projects, the initial growth in token issuance was indeed gratifying. Take BAYCs token APE as an example. After it was launched on Binance, the price of APE rose from 1 USDT to 28 USDT, an increase of 2800%. However, the subsequent Metaverse project launched by BAYC faced the result of loud thunder and small rain, especially after too much If the NFT holders tokens are released early, the value of the NFT will be cleared by the release of the tokens, and the subsequent value will be worrying.
Although MEMEland adopts a bundled token release method, the subsequent application scenarios are still a mystery. Although the project team stated that it will use SocialFis products as a foundation to enhance the application scenarios of the tokens, the possibility of final realization is not yet known.
So whether Azukis coin issuance can realize its vision depends on whether the project team can change its mind, formulate a coin issuance strategy and follow-up development plan for the sake of the community, and whether it can combine the token with NFT and subsequent projects to truly find a way. A unique path to the development of the Metaverse.
Mr. Block posted on the X platform that Azuki may adopt a dual-token economic model. The ANIME token is only a utility token, and governance tokens will be launched in the future. This statement can only wait for subsequent verification, but I personally think that Azuki is very likely to issue tokens on the second anniversary. It is more suitable to launch the token ANIME based on the news of the second anniversary.
Judging from the currency issuance situation of NFT projects in the past, investors can try to hold related series of NFTs to obtain air investment qualifications or purchase qualifications. They still have certain investment value in the early stage. What happens in the later stage ultimately depends on the structure of the project side. As for The strength of the Azuki project team is in the eyes of everyone.
