Azuki is an NFT project that has quickly become one of the most popular and controversial in the PFP scene.
With 10,000 anime-inspired tokens, it burst onto the scene in January 2022 with a high price tag and a complex roadmap.
Its potential as a leader in the NFT market was immediately noticed by many influencers, who praised its exclusivity.
Azuki has a grand vision to create the world’s largest decentralized metaverse brand, owned and built by its owners.
This has driven its initial success and attracted a large following, but has also been the source of some surprising debate and controversy. Despite this, Azuki’s popularity has continued to grow, establishing itself as one of the most talked-about projects in the PFP space.
What is the Azuki NFT project?
The Azuki NFT project is a collection of 10,000 generative PFPs launched on January 12, 2022. Featuring anime-inspired graphics, the distinct look of the project is a mix of the stylistic sensibilities of The World Ends with You and Thrasher.
It was initially to be sold through a Dutch auction with an initial price of 1 ETH, which would gradually drop to 0.15 ETH. However, the entire supply was sold out in less than three minutes at the auction price of 1 ETH.
The rapid depletion of Azuki’s project was probably the result of the hype and influence it garnered. In addition, its broad roadmap, was probably a key factor in its initial success.
However, as such promises should be taken with a grain of salt, it is likely that community support and funds raised during the primary sale gave early adopters the impression that Azuki’s potential was limitless.
To put things in perspective, Azuki’s public sale saw the release of 8,700 NFTs at a price of 1 ETH ($3,400 at the time). In this way, the founders raised about 8,700 ETH, or about $29 million on the day of the sale. The next day a private whitelist sale was held that minted an unspecified amount of Azuki NFTs at 0.5 ETH each, generating another $2 million for the team.
Who created Azuki?
Chiru Labs, a Los Angeles-based team of artists and developers with expertise in cryptography, technology and games, has created Azuki. The group, led by former tech entrepreneur Zagabond, consists of pseudonymous members 2pm.flow, location tba and HoshiBoy. Azuki is more than a PFP project, with plans to develop a variety of industries under its brand.
What are Azuki's next new developments?
In April 2022, Azuki launched its biggest expansion ever with the release of the Beanz NFT collection. Owners of the original 10,000 Azuki NFTs received these new NFTs for free via an airdrop.
Just like Bored Apes with Mutant Monkeys and Doodles with Space Doodles, Azuki capitalized on the need to grow the brand without detracting from the original set.The Beanz NFTs, which now number nearly 20,000, made it easier for newcomers to enter the Azuki ecosystem, offering potential for future utility as the brand further develops. In addition, Beanz holders gained exclusive access to a private Discord channel in the Azuki server and were entitled to future drops of Azuki goods.
The “red bean” is a long-standing symbol within the Azuki community, and Beanz is an important part of the Azuki ecosystem.
As the Azuki ecosystem grows, the goal of becoming a major force both inside and outside the chain is becoming evident.
To achieve this goal, they are trying to create their own unique metaverse with interactive multimedia experiences, games, incentives, and even comics and animations.
Chiru highlighted this at the 2022 NFT.NYC conference where they were given a glimpse of what this bridge between the metaverse and real-life activation might look like: an immersive setting reminiscent of Japanese culture.