Azuki, who earned 20,000 ETH, has angered the entire community this time.

Azuki, who earned 20,000 ETH, has angered the community.

Author: Azuma

On June 28th at midnight, the head NFT project Azuki’s new series Azuki Elemental Beans officially went on sale.

This sale reserved a round of pre-sale windows for Azuki and Beanz holders, followed by a Dutch auction for regular users, starting at 2 ETH. The final price of the three rounds of sales is the same, depending on the final price of the public auction. If it is sold out before the public sale, the price will be 2 ETH.

• Is Ethereum Ethscriptions going backwards? Will Eths replicate the Ordibehesht myth a thousand times?
• How will AI affect future work? A deep interpretation from the perspective of the productivity paradox.
• DeFi “Janitor” Poop: Recycling User’s Worthless Tokens to Achieve “Only Upward Movement”

Originally, it was another hot night

However, although many ordinary users were ready with ETH “on standby,” just like the hot early morning of January 13th last year, although the page was lagging and delayed, Azuki Elemental Beans was sold out shortly after the pre-sale window for Azuki holders and entered the pre-sale window for BEANZ holders, and the public sale window for ordinary users had not yet arrived.

As the sale ended, some users who failed to buy Azuki Elemental Beans tried to buy them at a higher price on the secondary market. From my observation, the bid wall on Blur, the best NFT market for professional traders, was pushed up to around 2.4 ETH shortly after it was sold out.

Originally, the story was still going smoothly here, with a hot community, a huge financing amount (a total of 20,000 ETH), and everything seemed no different from that night last year. Although the floor price of Azuki and Beanz fluctuated to some extent, considering that some users bought Azuki and BEANZ in the short term to ensure their opportunity to buy Azuki Elemental Beans, they will most likely be resold after the sale is over, so these fluctuations are not beyond the market’s expectations.

Opening the picture, is it Azuki’s underwear?

However, with the official release of Azuki Elemental Beans, the story began to develop in another direction.

Although the Azuki project team did not specifically disclose the function of this series of works before the sale of Azuki Elemental Beans, and only released a promotional video with a very explosive style, as a “big move” after nearly a year of brewing for the head project, this disclosure gave Azuki Elemental Beans even greater imagination. Many community users firmly believe that Azuki will take this opportunity to “do something big.”

Note: The well-known Azuki holder “郡主” represented the views of many community users before the sale, that is, the new series “at least won’t be too bad.”

But with the unveiling of Azuki Elemental Beans, looking at this pile of “small pictures” that are almost completely copied from the original Azuki (there are actually some new pictures, but they are a small proportion), even the most loyal community users “broke through the defense.”

The two sets of pictures above, one is Azuki, and the other is Azuki Elementals after opening, ask users who are not particularly familiar with Azuki’s characteristics, what is the difference between these two sets of pictures…

For a while, disappointment, anger, and a sense of being deceived quickly filled the entire community.

Some users denounced Azuki’s “sickle” operation this time, saying that the project party never thought about making something new, but just wanted to harvest again – shortly after the sale ended, the Azuki team quickly transferred the 20,000 ETH raised in this sale.

Even more loyal users were disappointed and directly criticized, saying that they had earned a lot of money but were unwilling to be market makers.

Some users turned over the old accounts and said that Azuki’s founder ZAGABOND.ETH, who had a history of two rug incidents, “resumed his old business.”

Some onlookers ridiculed that Azuki could earn nearly 40 million US dollars with just Ctrl+C and Ctrl+V. Who in the industry can match this revenue-generating ability?

Some rational users attempted to objectively analyze the reasons behind Azuki’s bizarre operation this time, speculating that it might be due to the large-scale tax war between trading platforms, which made it difficult for the original Azuki series (Azuki, Beanz) to contribute income to the project party from the aspect of tax revenue, because users can completely bypass the tax through trading platforms. However, Azuki Elementals as a new contract can lock in the tax, and its trading value is greater than that of Azuki and BEANZ before.

In summary, with the collapse of community sentiment, the Azuki series has fallen across the board. As of publication, the Azuki floor price is 9.87 ETH, down 28.29% during the day; the Beanz floor price is 0.67 ETH, down 43.06% during the day; the Azuki Elementals has also fallen below the issue price, currently at 1.59 ETH; due to the probability of rare issues, the floor price of Azuki Elemental Beans without issues is slightly higher, currently at 1.81 ETH.

Water can carry the boat, but it can also capsize it

With the concentrated outbreak of community sentiment, the Azuki team finally responded.

Azuki co-founder location tba apologized on Twitter, saying that there were flaws in the casting process for Azuki Elementals, which severely underestimated the time needed for Azuki and Beanz holders to participate in the first and second phases of the presale. The duration should have been extended to over 10 minutes to provide enough buffer in case of any problems (which did occur).

However, this apology, which missed the point, did not receive widespread forgiveness from the community, and more users are still waiting for an explanation from Azuki officials and ZAGABOND.ETH himself.

The NFT market is already in a deep bear market, and Azuki’s move not only drained the liquidity in the market, but also directly hit the entire market with a trust crisis. As the narrative of small pictures comes to an end, the NFT industry is eager to find new incremental directions. As a head project that was once invested with unlimited expectations, Azuki should have set an example in this respect (and the community was also expecting it), but the operation of Azuki Elementals is really hurtful.

With its excellent art style, Azuki attracted a group of loyal community users in the previous era of NFT, and it is these users who have pushed Azuki to its current height. But now, Azuki needs to think about how to appease these injured “family members”.

Water can carry the boat, but it can also capsize it. This is not just a question of good and evil in development, but a question of life and death.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!