{"id":8960,"date":"2023-06-30T14:42:19","date_gmt":"2023-06-30T14:42:19","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/06\/30\/long-term-azuki-holders-panic-sell-triggering-an-817-surge-in-sell-offs-after-elemental-drop\/"},"modified":"2023-06-30T14:42:19","modified_gmt":"2023-06-30T14:42:19","slug":"long-term-azuki-holders-panic-sell-triggering-an-817-surge-in-sell-offs-after-elemental-drop","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/06\/30\/long-term-azuki-holders-panic-sell-triggering-an-817-surge-in-sell-offs-after-elemental-drop\/","title":{"rendered":"Long-term Azuki Holders Panic Sell, Triggering an 817% Surge in Sell-Offs After Elemental Drop"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Azuki Elementals, experienced a rapid sell-out during its recent NFT launch, rapidly causing floor price drops, mass panic, and buyer sell0uts. The failed mint process saw the\u00a0 first 20 minutes exclusively reserved for Azuki NFT owners, resulting in the sale of an entire batch of 10,000 Elementals and an additional 10,000 being airdropped to existing Azuki members.<\/p>\n<p>However, the swift sell-out prevented the general public from participating in the Azuki ecosystem. This drove the floor price across the entire Azuki ecosystem (Beanz + OG + Elementals) way down. Azuki founder Zagabond and the entire Azuki team got on a discord meeting with their community to discuss their future plan of action.<\/p>\n<p><strong>TL;DR:<\/strong><\/p>\n<ul>\n<li>Azuki Elementals caused panic and floor price drop, prompting a community call to address concerns.<\/li>\n<li>Missed mark on capturing original Azuki essence, proposed community voting on updates.<\/li>\n<li>Azuki anime series in production, potential for OG Azuki NFT licensing, and exclusive features for holders.<\/li>\n<li>Plans for \u201cCollector Status\u201d and a second product in development, focused on tokenizing Azuki culture.<\/li>\n<\/ul>\n<p><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-112887 size-full\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Long-term-Azuki-Holders-Panic-Sell-Triggering-an-817-Surge-in-Sell-Offs-After-Elemental-Drop.jpg\" alt=\"Azuki logo superimposed by a &quot;dip&quot; in the stock chart, signifying floor price drops and massive panic sells\" width=\"1920\" height=\"1080\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Long-term-Azuki-Holders-Panic-Sell-Triggering-an-817-Surge-in-Sell-Offs-After-Elemental-Drop.jpg 1920w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Long-term-Azuki-Holders-Panic-Sell-Triggering-an-817-Surge-in-Sell-Offs-After-Elemental-Drop-300x169.jpg 300w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Long-term-Azuki-Holders-Panic-Sell-Triggering-an-817-Surge-in-Sell-Offs-After-Elemental-Drop-1024x576.jpg 1024w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Long-term-Azuki-Holders-Panic-Sell-Triggering-an-817-Surge-in-Sell-Offs-After-Elemental-Drop-768x432.jpg 768w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Long-term-Azuki-Holders-Panic-Sell-Triggering-an-817-Surge-in-Sell-Offs-After-Elemental-Drop-100x56.jpg 100w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Long-term-Azuki-Holders-Panic-Sell-Triggering-an-817-Surge-in-Sell-Offs-After-Elemental-Drop-150x84.jpg 150w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Long-term-Azuki-Holders-Panic-Sell-Triggering-an-817-Surge-in-Sell-Offs-After-Elemental-Drop-450x253.jpg 450w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Long-term-Azuki-Holders-Panic-Sell-Triggering-an-817-Surge-in-Sell-Offs-After-Elemental-Drop-1200x675.jpg 1200w\" sizes=\"(max-width: 1920px) 100vw, 1920px\"\/><\/noscript><\/p>\n<h2><span id=\"Azuki_Floor_Price_Panic_Does_The_Dip_Signify_The_Death_Of_The_Anime_PFP_Project\">Azuki Floor Price Panic: Does The Dip Signify The Death Of The Anime PFP Project?<\/span><\/h2>\n<p>In a few hours after <a href=\"https:\/\/nftevening.com\/azukis-elementals-nfts-sell-out-instantly-fud-everywhere\/\" target=\"_blank\" rel=\"noopener\">the Elementals reveal<\/a>, long-term holders of Azuki NFTs began selling their digital assets in large numbers after the Elementals drop. The sell-off included 132 long-term Azuki holders, representing an 817% increase in such sales. This is data according to premier NFT analysis site Nansen. Similarly, holders of Beanz Official NFTs, linked to the Azuki collection, experienced a major sell-off. 89 established Beanz owners sold their assets since the Elementals launch.<\/p>\n<p>This has also been partly attributed to Blur\u2019s lending platform. Blur witnessed over 50% of outstanding loans liquidated\/repaid following the flash sell-off triggered by the Elementals minting. The Azuki team acknowledged the disappointment and promised improvements for future releases.<\/p>\n<p><em>Cue Community Call<\/em><\/p>\n<h3\/>\n<p>Azuki then held a community call on Discord to address concerns and outline their plans regarding <a href=\"https:\/\/nftevening.com\/everything-you-need-to-know-about-azuki-elementals\/\" target=\"_blank\" rel=\"noopener\">Elementals and future developments<\/a>. The team discussed various aspects, including rushed mint mechanics, the role of Elementals within the ecosystem, the relationship with the original Azuki collection, artwork similarities, Green Beans, Azuki Anime, and the status of BEANZ.<\/p>\n<p>The Azuki team highlighted their focus on combining high-quality events, trailers, and Web3 technology to engage holders. Furthermore, they emphasize the importance of delivering immersive experiences. The team confessed that Elementals were introduced as a means to grant the wider Web3 community access to the Azuki Garden. With Elementals, Azuki builds an extensive intellectual property (IP) that appeals to diverse audiences.<\/p>\n<figure id=\"attachment_112883\" aria-describedby=\"caption-attachment-112883\" style=\"width: 1540px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-112883 size-full perfmatters-lazy\" alt=\"Changed Azuki Elementals backgrounds, a work in progress \" width=\"1540\" height=\"798\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc.jpeg\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc.jpeg 1540w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc-300x155.jpeg 300w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc-1024x531.jpeg 1024w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc-768x398.jpeg 768w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc-108x56.jpeg 108w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc-150x78.jpeg 150w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc-450x233.jpeg 450w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc-1200x622.jpeg 1200w\" data-sizes=\"(max-width: 1540px) 100vw, 1540px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-112883 size-full\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc.jpeg\" alt=\"Changed Azuki Elementals backgrounds, a work in progress \" width=\"1540\" height=\"798\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc.jpeg 1540w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc-300x155.jpeg 300w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc-1024x531.jpeg 1024w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc-768x398.jpeg 768w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc-108x56.jpeg 108w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc-150x78.jpeg 150w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc-450x233.jpeg 450w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Fz1dfkIWIAAIqyc-1200x622.jpeg 1200w\" sizes=\"(max-width: 1540px) 100vw, 1540px\"\/><\/noscript><figcaption id=\"caption-attachment-112883\" class=\"wp-caption-text\">Changed Azuki Elementals backgrounds, a work in progress<\/figcaption><\/figure>\n<p>The team acknowledged the missed mark in capturing the essence of the original Azuki collection with Elementals. To address this, they proposed allowing the community to vote on background updates and expressed their openness to feedback and suggestions.<\/p>\n<p>Regarding mint mechanics, the team drew inspiration from NBA Top Shot and aimed to provide a social experience through live reveals and AI\/social media elements. However, they admitted shortcomings in this area as well.<\/p>\n<p>Rarity distribution during the airdrop was intended to give everyone a chance at obtaining rare items, but the team acknowledged issues with properly weighting tiers, resulting in overly complex mechanics.<\/p>\n<h3><span id=\"Azuki_NFT_Anime_Series_Will_It_Save_The_Web3_Giant\">Azuki NFT Anime Series: Will It Save The Web3 Giant?<\/span><\/h3>\n<p>Exciting news came in the form of an <a href=\"https:\/\/www.azuki.com\/\" target=\"_blank\" rel=\"noopener\">Azuki anime series<\/a>, currently in production as shorts. The team sees this as an opportunity to disrupt the anime industry using decentralized IP and Web3 technology. The anime production is self-funded, and the team explores possibilities for OG Azuki owners to license their NFTs for use in the series.<\/p>\n<p>Green Beans, a forthcoming feature, will also be exclusively available to OG Azuki holders. Moreover, the Beans will not alter the metadata or dilute existing collections. Additionally, the team revealed plans for a new system called \u201cCollector Status\u201d. This system rewards holders based on factors like holding OG Azukis, duration of holding, and traits. These traits grant utilities exclusive to the Azuki collection. This further distinguishes them from Elementals.<\/p>\n<p>Furthermore, Zagabond hinted at a second product in development, aiming to tokenize \u2018Azuki culture\u2019. Limited information is available at present, and further details will be revealed in due course. The team remains committed to listening to the community and continually improving their offerings.<\/p>\n<p><iframe data-test-id=\"beehiiv-embed\" width=\"100%\" height=\"320\" frameborder=\"0\" scrolling=\"no\" style=\"border-radius: 4px; border: 2px solid #e5e7eb; margin: 0; background-color: transparent;\" class=\"perfmatters-lazy\" data-src=\"https:\/\/embeds.beehiiv.com\/37fed65e-f01c-4c4c-b8f1-1b71da0be0a4\"><\/iframe><noscript><iframe loading=\"lazy\" src=\"https:\/\/embeds.beehiiv.com\/37fed65e-f01c-4c4c-b8f1-1b71da0be0a4\" data-test-id=\"beehiiv-embed\" width=\"100%\" height=\"320\" frameborder=\"0\" scrolling=\"no\" style=\"border-radius: 4px; border: 2px solid #e5e7eb; margin: 0; background-color: transparent;\"><\/iframe><\/noscript><\/p>\n<div class=\"bottom-text__wrapper post-content\">\n<p>\u00a0<\/p>\n<hr\/>\n<p><em>All investment\/financial opinions expressed by NFTevening.com are not recommendations.<\/em><\/p>\n<p><em>This article is educational material.<\/em><\/p>\n<p><em>As always, make your own research prior to making any kind of investment.<\/em><\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/nftevening.com\/long-term-azuki-holders-panic-sell-triggering-an-817-surge-in-sell-offs-after-elemental-drop\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Azuki Elementals, experienced a rapid sell-out during its recent NFT launch, rapidly causing floor price drops, mass panic, and buyer sell0uts. The failed mint process saw the\u00a0 first 20 minutes exclusively reserved for Azuki NFT owners, resulting in the sale of an entire batch of 10,000 Elementals and an additional 10,000 being airdropped to existing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8961,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[9],"tags":[21],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/06\/Long-term-Azuki-Holders-Panic-Sell-Triggering-an-817-Surge-in-Sell-Offs-After-Elemental-Drop.jpg","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/8960"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=8960"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/8960\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/8961"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=8960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=8960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=8960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}