What is Azuki NFT? - All You Need to Know About Azuki NFT project
Azuki NFT was already among the top NFT collections in terms of sales volume four months after its release, among stalwarts like Bored Ape Yacht Club and CryptoPunks. However, Azuki has also brought out some concerns when the founder initiatives abandoned the project.
In this guide, we take a closer look into all details of the Azuki NFT project.
What is the Azuki NFT project?
Azuki's fundamental components consist of 10,000 generative avatars NFTs that was released on January 12, 2022. Like other PFP NFT projects, each token in the Azuki collection is the result of a randomized selection of characteristics. Azuki's distinct aesthetic, which includes anime-inspired artwork, has been described as a cross between the 3D action role-playing game The World Ends with You and the fashion sense of the venerable skateboarding publication Thrasher.
As one of the most profitable drops in NFT history, Azuki featured 10,000 anime-themed avatars and sold out for $30 million in total in just three minutes. The initial 8,700 Azuki avatars, which went on sale for $3,400, sold out in three minutes, generating about $30 million. The Azuki collection racked up around $300 million in transaction volume on marketplaces in the weeks that followed as awareness spread.
What makes Azuki unique?
Every single Azuki NFT is a one-of-a-kind, hand-drawn digital avatar. They come in a wide range of character types, such as skateboarders and samurais. Owners of NFTs can access the metaverse using their Azukis as their digital IDs.
There are several collections of digital avatars available. The designs are what made Azukis in particular popular. They are illustrated in an anime style that you will instantly recognize if you grew up watching Japanese animated programs like Dragon Ball Z, the numerous Gundam series, or any other.
Azuki NFT purchases also grant entry to The Garden. This will include unique streetwear collaborations, NFT drops, live events, and more, according to the Azuki website. Azuki NFT holders received a free airdrop of two NFTs on April 1, 2022, which was one of the first perks provided to them. The NFTs initially appeared as pictures of crates. Images of dirt heaps appeared after NFT holders updated the metadata. In May, the pictures underwent yet another alteration to form a part of the business's new NFT collection, BEANZ.
Azuki adopted the strategy used by Bored Ape Yacht Club by granting NFT owners a non-exclusive right to use their particular Azukis for commercial purposes. For instance, you might put your Azuki on anything you sell through an online store.
What is the scarcity of Azuki NFTs?
The most uncommon feature, the average of all its traits, or statistical analysis of feature/trait rarity are just a few of the many measures used to assess the overall rarity of any NFT. The most crucial point to note is that all of them estimate an NFT's rarity using some sort of characteristic or trait assessment.
The 450 qualities and 12 unique traits of Azuki NFTs are distributed randomly among its 10,000 avatars. The rarest Azuki NFT is #2152, and the second rarest is #9605, though it trails far behind #2152 in the "Trait Normalization" system used by Rarity Snipers. According to Rarity Sniper's methodology, these have rarity scores of 676553 and 48213, respectively. With a rarity score of 1895, Azuki NFT #4012 is the least uncommon.
How Azuki works
Azuki NFT has 10,000 avatars in its collection. Each Azuki's look is based on one of 469 qualities spread across 13 trait categories. Azukis with rarer qualities are typically more valued since some traits are more uncommon than others.
Azukis, for instance, come in four different varieties: Human, Blue, Red, and Spirit. Since there are more than 9,000 Human Azukis, they are typically less expensive. Only 97 Spirits exist, making up less than 1% of the entire collection, hence their costs are substantially higher.
On the Ethereum (CRYPTO:ETH) blockchain, Azuki NFTs are created. They are kept in NFT wallets and exchanged for and against ETH on NFT marketplaces.
Azuki Team and Partners
So who is behind Azuki NFT project? Continue reading this section to find the answer.
Chiru Labs, a team of artists and developers based in Los Angeles with experience in gaming, technology, and cryptocurrency, created Azuki. The group is led by former big tech entrepreneur Zagabond and consists of the aliases 2pm.flow, location tba, and HoshiBoy. With a long list of industries to be launched under the umbrella Azuki brand, the goal of Azuki is to be more than just a straightforward PFP project.
Azuki has numerous noteworthy connections that are assisting in the development of its brand. Azuki and Epik High, a South Korean alternative hip-hop group, collaborated to promote Asian and Asian-American artists. The group performed at Coachella 2022 while displaying Azuki NFTs.
A streetwear partnership between RTFKT and Azuki has been announced. RTFKT is the company that introduced Clone X NFTs. Azuki will collaborate with hardware wallet company Ledger through its BEANZ line.
How to buy Azuki NFTs
Learn more: https://www.nftciti.io/collections/161
You can find the Azuki NFT collection on several significant NFT marketplaces if you like the design and want to purchase one.
You'll need an Ethereum wallet and a blockchain to purchase NFTs from the collection. Since Ethereum is one of the most popular cryptocurrencies, it can be purchased on the majority of the best cryptocurrency exchanges. After purchasing it, transfer the funds to your blockchain wallet and link that wallet to your preferred NFT marketplace.
Even though NFT collectors adopted the Azuki brand quickly, only they should think about investing. These over-the-top collections are not wise long-term investments. It is impossible to forecast which specific NFTs will succeed, and the allegations of insider trading among significant collections are a troubling issue that is unlikely to get any better any time soon.
What Is Azuki Beanz NFT?
Churi Labs' second NFT collection, Azuki Beanz, will be released in May 2022. There are reportedly 19,944 NFTs in the collection, including the red Beanz, Toshi, and the blue Beanz, Gus or Les.
While the price of Azuki Beanz NFT has yet to trend as profitably as its predecessor, the Beanz NFTs have made significant progress. The Azuki Beanz collection on OpenSea has a floor price of 1.1 ETH ($1,688) and a total traded volume of 63,300 ETH ($97 million), with 7,000 wallets holding it.
It will be interesting to see how Chiru Labs leverages this strong foundation in the future to truly build a business. It debuted its first physical product, a Twin Tigers Jacket, in May. The jacket can be redeemed using a special token that was airdropped to all Azuki owners. The Azuki Twin Tigers Jacket token's secondary market royalties will be used to support Stand With Asians, an AAPI-focused community fund.
Hopefully, you have an overview about the Azuki NFT project through the above article. If you want to discover Azuki NFT, please go to the links below.
FQAs - What is Azuki NFT Project?
Where Can I Purchase Azuki NFT?
Azuki NFT can be purchased on NFT marketplaces such as OpenSea, Rarible, LooksRare, NFTciti, and others.
Who are the backers of Azuki NFT?
Adrian Cheng, a Hong Kong real estate mogul and mega-collector, has been revealed as the backer of the viral Azuki NFT collection, which includes 8,7000 anime-inspired avatars.
What is an Azuki token?
Azuki, an anime-inspired non-fungible token (NFT) project, has released the Physical Backed Token (PBT), an open-source token standard that connects a physical item to an Ethereum blockchain-based digital token.
NFTciti.io - New NFT Marketplace Project
NFTciti is the first marketplace to share revenue with NFT creators. It’s built to be easy to use and a joy to explore, whether you’re a longtime NFT enthusiast or a newbie just encountering the blockchain miracle for the first time. On NFTciti, collectors can easily stay updated with the latest information about NFT collections and manage their portfolios with high security. Initially, NFTciti will support Polygon-based NFT, then expand to support other blockchains.
Market247.io offers fundamental and technique analysis about potential crypto projects and hidden gems. By doing so, we hope to bring information promptly to support investors making investment decisions. All information provided by Market247.io is just as a reference, not an investment advice.
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