February 21, 2024

The highly anticipated Azuki Elementals NFT collection sold out in a record 15 minutes, raking in a whopping $38 million.

‘Elementals’ grosses $38 million in pre-sales

Due to the enthusiasm for the red bean element, the series was sold out in just 15 minutes after its release. The third iteration of the popular Azuki universe, the Elemental series, covers four distinct realms – Lightning, Earth, Water and Fire. Even though there are 20,000 NFTs in the collection, they haven’t even made it to the public sale market. During the recent Vegas event, the first 10,000 NFTs were airdropped directly to Azuki holders. The remaining 10,000 NFTs will be pre-sold first for Azuki holders and ten minutes later for Beanz holders. The original plan was for a public auction to follow the pre-sale. However, the entire series was sold within 15 minutes of being minted for 20,000 ETH, or roughly $38 million.

Frustrated and disappointed?

The casting process elicited mixed reactions, with many (mainly Azuki holders) expressing joy and satisfaction with their successful casting experience. However, those who couldn’t get minted felt huge frustration, and those who weren’t happy with the NFT itself were disappointed.

Since the pre-sale had no minting cap, many Azuki holders took the opportunity to mint more than 10 NFTs, with one user minting a total of 332 Elementals. As a result, not even many Beanz holders can participate.

Additionally, many users have commented on the Elements series, claiming that the animation art is very similar to the original Adzuki series.

Adzuki’s response

The Azuki team took the negative feedback in stride and responded on Twitter, stating that the goal was to create characters that were consistent with Azuki’s aesthetic, while offering something new by introducing game-related areas and unique traits and capabilities. specific fields.

The team wrote,

“Opening the garden gates is always challenging and exciting. This time around, we missed our target. We hear you – the minting process was busy, the PFP felt similar and, worse, diluted Azuki’s. ..however, our ambitious goals resulted in a new series that confused the community as to how it actually differs from the original Azuki series… Azuki’s vision is to build a decentralized brand. Doing so requires good communication and execution power, both of which Elemental Sales lacked. We know we lost a piece of trust today, but nothing motivates us more than that to get things done.”

Disclaimer: This article is for informational purposes only. It does not provide or be intended to be used as legal, tax, investment, financial or other advice.