Azuki, a blue-chip NFT brand, addressed its mistakes and laid out its plans to revive its NFT ecosystem following the poorly received release of its Elementals NFT mint. Azuki’s co-founder Zagabond and other core team members provided clarity on the project’s next steps during a private call with the Azuki community. The team wanted to capture the same feeling that people got when browsing through the OG Azuki collection. ‘Give them more of what they love.’ This was their intent, but they missed the mark here, said Arcanic, an Azuki holder.
The Azuki team plans to update the artwork of the Elementals collection to further distinguish it from the original collection. They are also working on an anime series featuring its character universe, which will consist of animated shorts that will be self-funded and incorporate Web3 technologies. Azuki is also working on other ways to reward its holders, such as denoting collector status for long-term holders and those who own tokens with rare traits.
Imagine watching an anime, and afterward you can interact with an NPC in the anime, whether that’s via Twitter or a web app, and the NPC can issue you tokens with which you can interact, said Zagabond.
Azuki holder Arcanic shared that while he was frustrated with the Elementals mint and artwork reveal, he’s optimistic about the future of Azuki and how the project will learn from its mistakes. The team has proven to be extremely competent and passionate, said Arcanic. So long as they remain aligned with their core community from here on out, I believe they can begin to regain the trust of the broader community once more.
At the time of writing, Azuki Elementals’ floor price was 1.29 ETH, about $2,480, with a trading volume of about 11,930 ETH, or just under $23 million, according to OpenSea. The floor price of Azuki is currently hovering at 8.19 ETH, about $15,775, with a trading volume of over 596,900 ETH, or over $1.1 billion.