Azuki NFTs Lose Value as Investors Criticize 'Identical' Elementals Artwork – What's Going On?

Crypto News
Crypto News

28 Jun 2023 2:38 PM

Azuki NFTs started losing value rapidly and selling under mint price as holders compared Azuki Elementals to the original collection, finding them nearly identical....

  • The Azuki Elementals NFT collection, a sequel to the original Azuki collection, initially gained immense popularity, selling out all 10,000 profile pictures (PFPs) within 15 minutes and generating $38 million in ETH.
  • However, collectors quickly noticed striking similarities between the new and original collections, leading to allegations that "Azuki stole their own artwork."
  • Prices of the new collection plummeted from the initial 2 ETH to as low as 1.32 ETH on OpenSea, and collectors expressed their disappointment and frustration on social media.
  • Some imperfections in the artwork, such as a character holding a magical wand with no apparent handle, further fueled the discontent among collectors.
  • The controversy also resulted in mass-selling of the original Azuki artworks, causing a 32% drop in their value within 24 hours.
  • Some speculate that this controversy might be a deliberate ploy by Chiru Labs to attract attention, while others believe it could be a joke collection or an expansion pack rather than a new product.
  • The NFT community is outraged and predicts the downfall of the company.

The sentiment in the article is negative, with collectors expressing disappointment, frustration, and outrage over the similarities between the new and original Azuki NFT collections.

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You May Ask

What is the controversy surrounding the Azuki Elementals NFT collection?How did the prices of the new collection and the original Azuki artworks change after the controversy?What imperfections were discovered in the Azuki Elementals artwork?What are some speculations about the controversy, and how do collectors feel about it?What is the sentiment of the NFT community regarding the situation?

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