Draft:Azuki (NFT)
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Azuki is is a non-fungible token (NFT) collection built on the Ethereum blockchain with the ERC-721A standard. The collection features profile pictures of unique Japanese anime avatars.
The parent company of Azuki is Chiru Labs. The project launched on January 12, 2022. Owners and holders of Azuki NFT are granted access to The Garden, a space integrated by artists, builders, and web3 enthusiasts. People in garden have exclusive right to join private online and offline club, exclusive in-person events, participant in exclusive airdrops. Moreover they have intellectual property rights for the image.[1]
Azuki aims to build a decentralized anime-focused brand.[2] Azuki seeks to encourage community involved in the development of intellectual property (IP) and storytelling, exploring a model of community-driven entertainment. The project has facilitated the formation of over 100 sub-communities, inspired various fan and commissioned artworks, and supported community-led events worldwide. With a Focusing on creating a decentralized anime IP and introducing innovative products to enhance the anime fandom experience, Azuki integrates blockchain technology to engage its community in shaping the future of anime.
In 2022, Chiru Labs is closing in on a $30 million Series A raise [3]. Various celebrities have purchased these non-fungible tokens, including Jay Chou, Adrian Cheng and JJLin.
A rare Azuki NFT sold for over 420.7 ETH in 2022, equivalent to approximately $1.4 million USD, on OpenSea. The sale marked the highest price recorded for the collection. [4]
Azuki Main Collection Characteristics
[edit]Azuki is a blockchain-based NFT project that stands out for its focus on detailed designs, innovative minting standards, and unique community engagement strategies. The project features 10,000 Japanese anime-inspired NFTs with distinct attributes and an emphasis on decentralized brand-building within the Web3 space.[5]
Design and Attributes
[edit]Azuki NFTs are distinguished by their detailed and personalized designs. Each NFT is characterized by 13 attributes, including features such as hair, hat, race, and handheld objects. These attributes are further divided into specific categories. For example, the "race" attribute includes options such as human, red skin, and blue skin. A unique "Special" category incorporates elements like Onibi, butterflies, fireflies, cherry blossoms, water, and lightning. Additionally, the "handheld object" attribute reflects Japanese cultural elements, such as sake and shinai. Azuki's official website includes a comprehensive gallery that allows users to explore all categories and quantities of the NFTs, providing an accessible and organized viewing experience.[6]
Minting Standard
[edit]Azuki introduced the ERC721A standard, a new NFT minting protocol that reduces costs.[7][8] Unlike traditional NFT standards, which require users to pay a gas fee for each NFT minted, ERC721A allows multiple NFTs to be minted while incurring a single gas fee, equivalent to minting one NFT. This innovation addresses the high gas fees often associated with Ethereum-based transactions, making minting more cost-effective and accessible.[9]
Whitelist Mechanism
[edit]The whitelist system for Azuki deviates from traditional "random screening" methods. Social media participation serves as an incentive for obtaining whitelist access, encouraging active community engagement.[10] Selection is based on various factors, including social media activity, but the specific criteria remain undisclosed to ensure fairness. Unlike random selection, this approach aims to identify individuals who are genuinely invested in the project. Whitelist notifications are sent via private Twitter messages to prevent fraud. This system rewards long-term community commitment while addressing the limitations of random whitelist selection.[6]
Sales Methodology
[edit]Azuki employs a three-stage sales process to ensure fair pricing and accessibility:
Dutch Auction: The initial minting price starts at 1 ETH and decreases by 0.05 ETH every 20 minutes until it reaches 0.15 ETH.
- Whitelist Minting: Whitelisted participants can mint NFTs at a price equal to half of the final price achieved in the Dutch auction. This phase lasts for 48 hours.
- Public Sale: Remaining NFTs are sold at the price of the last NFT minted during the Dutch auction.
- Each wallet address is limited to minting up to five NFTs, ensuring broader distribution and access.[11][12]
Significance
[edit]Azuki's innovative approaches to design, minting, and community engagement have set it apart within the NFT space. By integrating unique aesthetic elements, reducing minting costs through ERC721A standard, and prioritizing active community members, Azuki exemplifies a modern, decentralized model for NFT projects.
Collections
[edit]- Azuki
- Beanz [13]
- Bobu
- Azuki Elemental
Important Event/Date
[edit]November 15, 2021, Azuki twitter post the first tweet.[14]
Early December, 2021. Azuki first trailer revealed on twitter. [15]
Early January, 2022. Azuki first introduced the ERC721A standard. [8]
January 12, 2022. Mint start. Sold out within three minutes, raking in over $29 million. [16][17]
March, 2022. Floor Price of Azuki between 8-10 ETH. Decentralized IP Bobu launched. Bobu is one of the Azuki that in the team Treasury and not trade before. Azuki #40. The team decentralized Bobu to 50K Tokens. Promote Bobu as the first decentralized IP. They design unique website and merch for Bobu. [18][19][20][21]
March 31, 2022. Azuki Founder Zagabond announced in a Real-life Holders Event. Each of the Azuki Holder will be airdropped 2 new NFT called BEANZ. [22] [23]
See also
[edit]References
[edit]- ^ Ariwoola, Abdulrasaq (2023-08-13). "The Rise and Fall of the Azuki NFT Collection". NFT Plazas. Retrieved 2024-11-20.
- ^ "Azuki". Azuki. Retrieved 2024-11-19.
- ^ "Azuki creator closes in on $30 million fundraise: sources".
{{cite web}}: CS1 maint: url-status (link) - ^ "Rare Azuki NFT Sells for a Record $1.4 Million USD". Hypebeast. 2022-03-31. Retrieved 2024-11-20.
- ^ "元宇宙品牌：Azuki NFT发展简史". Foresight News (in Chinese (China)). Retrieved 2024-11-20.
- ^ a b "Azuki - NFTs". IQ.wiki. Retrieved 2024-11-19.
- ^ Ko K, Jeong T, Woo J, Hong JW-K. Survey on blockchain-based non-fungible tokens: History, technologies, standards, and open challenges. Int J Network Mgmt. 2024; 34(1):e2245. doi:10.1002/nem.2245
- ^ a b chiru-labs (2024-11-17), chiru-labs/ERC721A, retrieved 2024-11-20
- ^ Grinbergs, Kristaps (2023-05-16). "Exploring the Features and Benefits of Azuki's ERC-721A NFT Standard". Medium. Retrieved 2024-11-19.
- ^ Sharma, Trishie; Agarwal, Rachit; Shukla, Sandeep Kumar (2023-04-01), Understanding Rug Pulls: An In-Depth Behavioral Analysis of Fraudulent NFT Creators, doi:10.48550/arXiv.2304.07598, retrieved 2024-11-20
- ^ "67. Azuki NFT collection guide: everything you need to know about it!". Kanga University. Retrieved 2024-11-19.
- ^ J. Wu et al., "Toward Understanding Asset Flows in Crypto Money Laundering Through the Lenses of Ethereum Heists," in IEEE Transactions on Information Forensics and Security, vol. 19, pp. 1994-2009, 2024, doi: 10.1109/TIFS.2023.3346276.
- ^ https://opensea.io/collection/beanzofficial
- ^ https://x.com/Azuki/status/1460337104391528449
- ^ https://x.com/AzukiOfficial/status/1468641733210566658
- ^ Amarosa, Andrew (2023-01-06). "Azuki NFTs Explained (Read Before Buying)". Pastel Network. Retrieved 2024-11-20.
- ^ Kauflin, Jeff. "How Azukis Suddenly Became The World's Best-Selling NFT Collection". Forbes. Retrieved 2024-11-20.
- ^ https://x.com/Bobudeded
- ^ https://bobu.azuki.com/
- ^ "Azuki brings Bobu back to life". www.coinlive.com. Retrieved 2024-11-20.
- ^ "Azuki's Bobu NFT to Join Space Mission With SpaceX And NASA | The Crypto Times". www.cryptotimes.io. 2022-04-14. Retrieved 2024-11-20.
- ^ NFTevening (2022-04-19). "Azuki BEANZ NFT: Explained". NFT Evening. Retrieved 2024-11-20.
- ^ https://dappradar.com/blog/new-dapps-report-beanz-surprise-airdrop-from-azuki
External links
[edit]- Azuki - official website
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