Azuki’s “Elementals” NFT Collection Sells Out, Generating $38 Million in 15 Minutes

On Jun 28, 2023

Anime NFT collection Azuki achieved a remarkable milestone with the successful launch of its latest collection, “Elementals.” This collection, featuring 20,000 NFTs based on the elements of earth, fire, lightning, and water, sold out within 15 minutes, generating an impressive $38 million in sales. The launch attracted significant attention from existing Azuki NFT and BEANZ holders, who were given a special presale window to participate.

Presale and Sale Details

Azuki’s “Elementals” collection was first offered to loyal holders of Azuki NFTs and BEANZ, a derivative project associated with Azuki. These early supporters were granted a 10-minute presale window, during which they had the opportunity to secure their desired NFTs. To participate in the presale, holders were required to deposit 2 ETH as a commitment. Remarkably, the entire “Elementals” collection was sold out within this limited presale period, rendering a public sale unnecessary.

Despite the success of the sale, there were some reported challenges and frustrations experienced by buyers during the minting process. Many buyers expressed dissatisfaction with their inability to obtain an Elemental NFT, despite being holders of Azuki or BEANZ NFTs. Some attributed this frustration to technical issues encountered on the minting platform, while others criticized the short duration of the minting window. These difficulties marred an otherwise highly anticipated launch.

Response from Azuki Co-founder

In response to the issues faced by buyers, Azuki’s co-founder, known as “Location tba“, acknowledged the shortcomings of the minting experience. Expressing regret, Location tba stated that the minting process did not meet the high standards set by Azuki.

We hear your feedback loud and clear. The mint experience was not up to the Azuki standard. Want to give some clarity on what happened during the presale and some general thoughts
1/8
— location tba (@locationtba) June 27, 2023

The co-founder admitted that the team had underestimated the time required for the presale and should have allowed for a longer duration to accommodate any potential technical glitches. Despite the challenges faced, Location tba assured the community that Azuki would take the necessary steps to address and rectify the situation.

Significance and Conclusion

The overwhelming success of Azuki’s “Elementals” NFT collection launch demonstrates the continued demand and popularity of NFTs in the market. The rapid sell-out and impressive revenue generated, totaling $38 million, highlight the strong interest and enthusiasm surrounding Azuki’s offerings.

While the launch was not without its difficulties, Azuki’s commitment to its community and their experience remains unwavering. The “Elementals” collection represents another significant milestone in the NFT space. As the NFT market continues to mature, Azuki and other innovators in the space are poised to shape the future of NFT collectible space.