NiftyNoon: Is Azuki’s Apology Enough?

Jun 30, 2023

Nifty Thought

Azuki hosted a community meeting to share their apology and reflection surrounding their hectic Azuki Elementals mint. Ultimately, the team did a good job of taking ownership over the error and humbly reflecting on paths they can take to avoid this in the future. However, their proposed solution for differentiation has been somewhat controversial. Their approach is to give Azuki Elementals special backgrounds that make it very apparent the NFTs are Elementals and not from the original collection. However, purchasers of Elementals are unhappy with this prospect as they have essentially purchased one product and will have it changed into something else. The background will change will ultimately go to a community vote.
Regardless of where people fall on the Azuki affinity spectrum, it is undeniable that the team has killed much of its good will in the NFT space this week. While they will likely survive as a project overall, their status as the clear #2 behind Yuga has been lost. However, Azuki is no stranger to facing market doubt. The path forward for the team is clear. They must put their heads down and return to building. Nothing they say will re-build the trust they lost; only delivery can save the project.

OpenSea ETH Daily Volume: 2,423 ETH (► 0.00%)
Blur ETH Daily Volume: 12,426 ETH (▲ 48.21%)
BTC: $30,878.05 (▲ 1.63%)
ETH: $1,890.99 (▲ 2.32%)
Solana: $18.97 (▲ 16.36%)
Polygon: $0.66 (▲ 5.95%)

🚬 CryptoPunks: 45.49 ETH (▼ 0.02%)
🧟 Mutant Ape Yacht Club: 7.33 ETH (▼ 0.57%)
🐧 Pudgy Penguins: 4.19 ETH (▼ 1.41%)
🧝🏼‍♀️ DigiDaigaku: 3.32 ETH (▼ 3.49%)
🦧 Bored Ape Yacht Club: 36.15 ETH (▼ 4.10%)
🥃 Proof Collective: 6.10 ETH (▼ 6.15%)
🧬 Clone X: 1.51 ETH (▼ 6.27%)
⛩️ Azuki: 8.48 ETH (▼ 6.63%)
🌈 Doodles: 1.31 ETH (▼ 7.97%)
🏴‍☠️ Captainz: 6.83 ETH (▼ 8.05%)
🦉 Moonbirds: 1.35 ETH (▼ 8.17%)

The content on this site is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Managed by @AxuETH, @NPapaellinas, @SpeedyGonzale87, @SSPxLEO and @xhuewa