NFT

One red bean, two different stories! While Big Brother Maji goes crazy buying the bottom to profit from the spread, Azuki's Chinese community founder liquidates all holdings.

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One red bean, two different stories! While Big Brother Maji goes crazy buying the bottom to profit from the spread, Azuki

The Japanese NFT project Azuki Elementals sparked a controversy today due to issues with minting and artwork, leading many holders to sell off due to FUD sentiment, which in turn affected the prices of Azuki and BEANZ. However, in this crisis moment, NFT collector Brother Ma chose to buy the dip heavily.

Azuki Elementals controversy summed up in one glance: the downfall of the blue chip! Azuki's indirect inflation caused price collapse, and even "twins" appeared?

Big Brother Huang Licheng Bottom-Fishing Azuki

According to data analyst Yu Jin's statistics, when Azuki's NFT ecosystem was in a downturn, Huang Licheng spent nearly a thousand ETH to bottom-fish. Here are the NFTs he purchased:

  • 394 Azuki Elemental Beans, spending 677.42 ETH, with an average price of 1.72 ETH. There are 335 left at the time of writing, with the lowest market price being 1.98 ETH
  • 18 Azuki, spending 156.68 ETH, with an average price of 8.7 ETH. All sold out before the deadline, with the lowest market price at 9.48 ETH
  • 14 Azuki Elementals, spending 61.37 ETH, with an average price of 4.38 ETH. There are 7 left before the deadline, with the lowest market price at 1.74 ETH
  • 22 BEANZ, spending 14.52 ETH, with an average price of 0.66 ETH. There are 2 left before the deadline, with the lowest market price at 0.66 ETH

From Huang Licheng's purchase prices, it can be seen that he entered the market at the low points and made a profit on price increases. Although Azuki Elementals may seem to be at a loss, it is actually because he spent 36 ETH to purchase a "Pure Frog" with the third-highest rarity.

All Azuki Chinese Community Founders Dumped

For investors like Huang Licheng, major events are opportunities to enter the market and profit from price differences. However, for Azuki enthusiasts, it's a different story. Christine, one of the founders of the Azuki Chinese community, sold all of her Azuki holdings on the secondary market this afternoon and also expressed her thoughts on Youtuber Harry Lee's Twitter Space.

Christine mentioned that the new Azuki project's price of 2 ETH is not very high, but she is concerned that there may not be corresponding products to support the price. Therefore, she inquired about relevant matters with the Azuki team before the official release of Azuki Elementals, but did not receive a confident answer.

Furthermore, Christine pointed out that many Azuki holders encountered issues with being unable to mint during this minting activity, coupled with high similarity after the release and insufficient image quality, which led to many community members losing confidence. Christine herself stated that despite experiencing the highs and lows of Azuki, this time is different as she has lost trust in the team's capabilities, hence choosing to sell off all holdings.

Azuki Team to Release Further Announcement Tonight

Until now, the Azuki team has not proposed a solution to appease the community. However, according to the Discord announcement, the team has clearly heard the community's feedback and stated that they will release a statement and their next steps tonight. Whether Azuki can survive this crisis will be crucial tonight.

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