Azuki is a digital brand mainly associated with a collection of 10,000 avatars released by a group of artists created in Los Angeles on January 12, 2022. These avatars have unique characteristics based on anime-themed drawings that have caught the attention of NFT enthusiasts around the world. Azuki gives the user access to exclusive NFT drops, streetwear collaborations, live events and more. The creators describe Azuki as "a corner of the web where artists, builders and web3 enthusiasts meet to create a decentralized future." All of the images in the Azuki collection have differences in regards to hair, backgrounds, clothing, and various wearables - some Azuki hold swords, a cup of coffee, a skateboard, or a boombox. Azuki NFTs have become quite a hot topic in the crypto community, not only because of their anime-style aesthetic, but also because they outsold some of the biggest names in the NFT market in terms of sales shortly after they were released.
Azuki was launched just a few months ago, and has already managed to win a lot of fans. The collection is considered "blue chip" in the NFT community among other popular collections such as Bored Ape Yacht Club and CryptoPunks. At the time of this writing, total sales were just under 190,000 ETH, which is currently around $540 million.
Behind the creation of Azuki NFT is Churi Labs, a startup comprised of several contributors with strong backgrounds in crypto, art and gaming, all joining forces to create a recognizable brand in the metaverse. The founder of the project works under the pseudonym Twitter. Zagabond. He claims to have worked with numerous industry leading companies such as Google and various decentralized projects. Team Azuki is very secretive about who they are and their previous experiences.
Also listed as a co-author is Arnold Tsang, a well-known conceptual artist from Toronto, Ontario. He is known for his previous work in the gaming industry. Tsang and the team will work to turn the Azukies into more than just digital collectibles – they want to build a sustainable business that brings new revenue to the company, including the launch of the Azuki clothing line, which is already in development.
The Azuki Collection debuted on January 12, 2022 with an initial release of 8,700 avatars priced at $3,400 each at the time. The collection sold out in minutes, earning around $30 million. After the public sale, the creators held a private offer in which they sold the Azuki NFT kits for another $2 million. Shortly after the announcement, the minimum price of the collection skyrocketed and in less than a month was already over 10 ETH. However, it wasn’t until the end of March 2022 that Azuka’s popularity skyrocketed, with their minimum amount approaching 40 ETH. It also resulted in the sale of the most expensive Azuki NFT (at the time of writing). It was Azuki #9605, the runner-up for TraitSniper. The collectible sold for a whopping 420 ETH worth over $1.4 million at the time of the sale.
Why are azuki so popular?
There are many reasons why Azuki has become a blue chip in the cryptocurrency community so quickly. Number one, in the eyes of most people, is art. Azuki has carved out an important niche in the field of NFT - anime - and has become the standard for hundreds of projects.
“I had several conversations with Asian investors who told me that this was the first NFT purchase.” Tsang, on the other hand, says that the Azukies reflect the "rebellious culture of skateboarders", adding that it is well connected to the crypto community.
It's also important to note that Azuki's overall market strategy is working quite well. As the series began to gain momentum, the team announced a long-awaited giveaway for its holders, rewarding their loyalty as well as promoting the Azuki brand and taking it to the next level.
