Azuki Elementals background change proposal rejected! Over 80% opposition, but the price has stopped falling and started to rise.
The well-known Japanese NFT project Azuki experienced a controversy over the new project "Azuki Elementals" at the end of June. To salvage the situation, the team decided to ask the community whether to change the background of Elementals artwork. After various considerations, the opposition voices from the community outweighed the support. Despite not being approved, the NFT ecosystem of Azuki showed a slight recovery after the dip.
The community has voted to not change the background metadata for the Elementals collection. pic.twitter.com/hnd2szXBbb
— Azuki (@Azuki) July 8, 2023
Table of Contents
Azuki Background Change Proposal Not Approved
According to previous reports, the Azuki team mentioned in a Discord meeting held on 6/30 that they were attempting to change the background of Elementals in various styles to differentiate and restore confidence among holders.
Over the weekend, a voting activity for changing the background was officially launched, where each Elemental represented one vote. Ultimately, a total of 1,049 holders participated in the vote, with 86.9% (3,838 votes) against the proposal, resulting in its rejection.
As shared by community members, most of the voters against the proposal believed that the metadata of NFTs should not be altered. If there is a genuine desire to use a new background, it could be implemented as an off-chain option. The official statement mentioned that in the future, backgrounds could be changed on individual profiles.
Additionally, some community members perceived this action as an attempt to address the dilution issue caused by Azuki's similarity to Elementals. However, even with a background change, it may not bring tangible value to Azuki and could potentially further devalue Elementals.
Furthermore, the community expressed that changing the background should not be the team's top priority. Issues such as restoring Azuki's price to its former glory and correcting flaws in the Elemental images are the challenges the team should focus on.
Azuki Price Rebounds After Decline
Despite the significant impact on Azuki's reputation, after the team responded and attempted to address the issues, Azuki's price has gradually rebounded, rising by approximately 24% from its lowest point to the current lowest price of 7.15ETH.
On the other hand, Elementals have increased by about 80%, returning to over 1ETH at 1.26ETH. However, it is still in a broken state, while BEANZ has risen by approximately 35%, with a price of 0.46ETH at the time of writing.