In a remarkable feat, all 10,000 Azuki Elementals NFTs were swiftly snapped up during the presale! Despite the somewhat subdued NFT market, Azuki made an astounding $38 million in just 15 minutes. Markedly, completely selling out their latest drop. But, not everyone is happy. Let’s dive in!
- The new Azuki Elementals NFT drop featured 10,000 NFTs available for purchase through a Dutch auction, with an additional 10,000 NFTs airdropped to existing Azuki NFT holders.
- Prior to the public sale, holders of Azuki and Beanz NFTs had an exclusive 10-minute window to acquire Elementals NFTs, resulting in a complete sell-out during the presale.
- Some community members experienced errors during the minting process, leading to frustration and concerns about the fairness of the sale. The Azuki and Azuki Beanz floor prices have dropped significantly due to the FUD surrounding the mint.
Azuki Elementals NFTs Snapped Up by Holders Before Public Sale
The Azuki Elementals NFT drop is a new PFP collection by Azuki, featuring 10,000 NFTs available for purchase through a Dutch auction starting at 2 ETH ($3,800) each. Additionally, the Azuki team airdropped 10,000 Elementals NFTs to existing Azuki NFT holders before the sale.
Prior to the public sale, holders of Azuki NFTs and Beanz NFTs were also granted an exclusive 10-minute window to acquire Elementals NFTs. Consequently, all 10,000 of those NFTs sold out during the presale period. Around 15 minutes after the initial presale began, the official Azuki account tweeted the news of the sell-out, letting fans know that there would no longer be a public sale.
Unveiling the FUD.
So, where is the FUD coming from? Azuki holders and BEANZ holders faced challenges during the process and were unable to mint an Azuki Elemental NFT. Meanwhile, the Azuki and Azuki BEANZ floor prices have fallen significantly.
In response to the community feedback, Azuki acknowledged that the mint experience during the presale did not meet the standard. In a tweet, they admitted to dropping the ball in this instance. They underestimated the time required for both phase 1 and phase 2 of the presale. Moreover, it was determined that approximately 7.6k Elementals were minted by Azuki holders. BEANZ holders minted the the remainder.
We hear your feedback loud and clear. The mint experience was not up to the Azuki standard. Want to give some clarity on what happened during the presale and some general thoughts
— location tba (@locationtba) June 27, 2023
The team acknowledged that they should have extended the duration of the presale beyond the initial 10 minutes. This would allow for a sufficient buffer in case of any issues, which did occur. Additionally, they revealed that the Azuki site faced challenges due to underestimating the expected load. Unfortunately, causing further complications.
The NFT community have also expressed concern about the FUD and potential toxicity happening throughout the Azuki Elementals mint. Many are concerned about the team potentially using a planned mystery announcement as a tactic to manipulate holders. The community have also highlighted the need for transparency and genuine communication, urging caution against falling into deceptive marketing strategies that could cause harm.