Azuki NFT takes the cake

Azuki NFT sells out dutch auction in 3 minutes for 1 ETH

Azuki — a new NFT project that aims to create the largest decentralized brand for the metaverse that is built and owned by the community.

As the community is in the forefront of their manifesto, Azuki team decided not to go the classic way to mint with whitelists and hype, but to offer a fair way to distribute NFTs to the community — a dutch auction. That means that at the start the price would be 1 ETH and would go down by 0.05 ETH every 5 minutes for 12 hours or until the batch of 8700 would sell out with a limit of max 5 mints per account.

The second phase is today at 10am PST, where whitelisted (mintlisted in the language of Azuki) can mint maximum 1 bean (name for the unrevealed NFT) per account at half the price of the last sold item at the dutch auction. This would go on for 48h.

If any are left it’s open to the public at the price of the last sold Azuki at the dutch auction.

Now the kicker: The dutch auction exploded and sold out in 3 minutes at the full 1 ETH price, so a lot of people jumped on the full price instantly to get their Azuki first. It must be one of the most expensive NFTs in the mint phase and the price on OpenSea has jumped since the initial mint to 2.5 ETH floor.

So what is Azuki in it’s essence?

“Azuki is a brand. A new kind of brand that we build together A brand for the metaverse. By the community.
A collection of 10,000 avatars that give you membership access to The Garden. It starts with exclusive streetwear collabs, NFT drops, live events, and much more that will be revealed over time. Community ownership in Azuki allows for a new genre of media which the world has yet to explore. An Azuki is your identity in the metaverse. Let’s build together. The Garden is a corner of the internet where art, community, and culture fuse to create
magic. The lines between the physical and digital worlds are blurring and the
being rewritten.”

We’re looking forward to seeing the project develop further and are expecting nothing less then becoming one of the biggest players in the metaverse.