Popular blue-chip non-fungible token (NFT) collection Azuki has launched its highly anticipated new collection, Azuki Elementals. The collection draws inspiration from the elements found within the Azuki ecosystem, namely earth, fire, lightning, and water. According to a press release, Azuki Elementals will consist of 20,000 NFTs, each with different levels of rarity traits that will be revealed upon minting.
The sale of Azuki Elementals will kick off on Tuesday with a unique twist—a Dutch Auction. Starting at 2 ETH (approximately $3,800), the price of the NFTs will drop by 0.1 ETH (about $187) every five minutes until all 10,000 remaining Elementals have been sold. This dynamic pricing mechanism aims to create excitement and incentivize early purchases.
A special treat awaits holders of Azuki NFTs or BEANZ, another derivative collection associated with Azuki. These holders will have priority access to purchase Elementals before the public sale. In a preferential presale, Azuki NFT holders will enjoy a brief 10-minute window to secure additional Elementals, followed by BEANZ NFT holders, who will have a similar opportunity just before the public sale begins.
To celebrate the upcoming release, a portion of the Azuki Elementals NFTs was airdropped to existing Azuki holders during the “Follow the Rabbit” event held in Las Vegas on Friday.
Azuki’s phenomenal success in the NFT Market
Azuki has achieved remarkable success in the NFT market, firmly establishing itself as a leading player. According to data from the secondary marketplace OpenSea, Azuki’s floor price currently stands at 15.3 ETH, equivalent to approximately $29,000. The project has recorded a staggering trading volume of 569,795 ETH, surpassing $1 billion.
BEANZ, a collection derived from Azuki, has also garnered significant attention, with a floor price of 1.28 ETH (around $2,400) and a trading volume of approximately $300 million. The project’s popularity soared in October when eight golden skateboards, backed by physical tokens, were auctioned, resulting in a sales volume of $2.5 million.
The anticipation surrounding Azuki Elementals is palpable, with the collection expected to continue the project’s unprecedented success. While details about the Elementals are being kept under wraps, the collection’s slogan, “Four Domains, One Garden,” suggests a mythical landscape divided into four distinct kingdoms associated with the elements. This concept intertwines with the broader Azuki community, known as “The Garden,” which spans virtual and real-life collaborations and events.
Like its predecessor, the Azuki Elementals NFT collection will feature randomized attributes of varying rarity. The collection comprises four tiers of Elementals, each with an increasing likelihood of revealing rare traits. However, even the lower tiers have the potential to unveil highly sought-after “grail” NFTs, known for their exceptional rarity and substantial value in the secondary market, as confirmed by a Chiru Labs spokesperson.
With the upcoming launch of Azuki Elementals, Azuki continues to captivate the NFT space with its innovative approach, impressive trading volumes, and vibrant community of collectors. As the countdown to the Dutch Auction begins, NFT enthusiasts eagerly anticipate the opportunity to acquire these unique digital assets inspired by the elemental forces of nature.