NiftyNoon: Are Azuki’s Mainstream Partnerships Enough to Revive the Project?

Azuki announces a new major partnership but value returned to holders remains in question (August 22, 2023)

Nifty Thought

• Azuki and Chiru Labs made headlines yesterday with their partnership announce with Super Bowl MVP quarterback Patrick Mahomes and his MuseumofMahomes NFT collection. While a collaboration with an American Football star may seem out of character for the Asian-centric Azuki collection, the team believes the cross-genre appeal between anime and sports will shine through. Regardless, while this collaboration could introduce Azuki as a brand to an entirely new audience, the value this returns to faithful Azuki holders remains less clear. All Azuki holders will be eligible to enter a contest to win a 1/1 physical Mahomes Azuki card with their contest participation also entitling them to receive a physical limited edition card). This may not be the type of upside these holders were hoping for when they purchased these NFTs for thousands (in some cases tens of thousands) of US dollars.

• Once again, all bear market moves from NFT projects return to a fundamental question: how can projects return value to holders beyond mere cultural affiliation? If equity entitles holders to future profits, what, if anything, do NFTs entitle holders to? Until a legitimate solution arises to address this fundamental disconnect between the NFT project and the NFT holder, it is likely that further project announcements will continue to result in neutral or even negative price action.

Highlighted News

• Museum of Mahomes announces collaboration with Azuki on exclusive limited edition physical cards:

  

  https://twitter.com/patrickmahomes/status/1693667032901001703?s=46&t=dHHZdw5L70boHRGaM55SSw

• Azuki holders who enter draw can redeem a limited edition “Scorching Sidearm Pass” physical card next week:

  

  https://twitter.com/Azuki/status/1693678069645705667?s=20

• Azuki share excitement to collab with @MuseumofMahomes featuring Super Bowl MVP quarterback Patrick Mahomes:

  

  https://twitter.com/whizwang/status/1693717930163175878?s=61&t=FtQnAx1pDxKRDD9EWf0wBQ

Project and Community News

• Base support comes to Floor tomorrow:

  https://twitter.com/floor/status/1693711725219000504?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• friend.tech share Shares have been renamed to Keys:

  https://twitter.com/friendtech/status/1693745768145063954?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Sugartown by Zynga teasing what’s next after announcing Oras are free:

  https://twitter.com/visitsugartown/status/1693699629546869006?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• The Monument Game has begun:

  https://twitter.com/samspratt/status/1693767549379371042?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• 80,000 unique wallets have bought Friend Tech shares in the past 11 days:

  https://twitter.com/punk9059/status/1693631512418148667?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

Quick Stats:

• Blur ETH Daily Volume: 4,315 ETH (▼ 10.59%)

• OpenSea ETH Daily Volume: 1,920 ETH (▲ 12.22%)

• BTC: $26,089.34 (▲ 0.24%)

• ETH: $1,665.53 (▼ 0.37%)

• Solana: $21.15 (▼ 0.92%)

• Polygon: $0.55 (▼ 3.97%)

NFT Daily Winners:

• 🏳️‍🌈 Chromie Squiggles: 10.49 ETH (▲ 8.55%)

• 🦉 Moonbirds: 1.26 ETH (▲ 6.69%)

• 🦧 Bored Ape Yacht Club: 24.00 ETH (▲ 2.87%)

• 🧬 Clone X: 1.11 ETH (▲ 1.01%)

• 🧟 Mutant Ape Yacht Club: 4.44 ETH (▲ 0.79%)

• 👩🏻 Milady Maker: 4.35 ETH (► 0.00%)

• 🐈‍⬛ VeeFriends: 1.69 ETH (► 0.00%)

NFT Daily Losers:

• 🏴‍☠️ Captainz: 3.68 ETH (▼ 0.27%)

• 🚬 CryptoPunks: 47.39 ETH (▼ 0.63%)

• ⛰️ Otherdeeds: 0.52 ETH (▼ 2.08%)

• ⛩️ Azuki: 3.41 ETH (▼ 2.24%)

• 🐧 Pudgy Penguins: 3.67 ETH (▼ 2.70%)

• 🌈 Doodles: 1.21 ETH (▼ 10.31%)

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