Azuki, the renowned NFT platform, experienced an astounding success as it raised a staggering $38 million in a mere 15 minutes after unveiling its ecosystem expansion this Tuesday.
The platform had recently showcased the highly anticipated Azuki “Elementals” at an exclusive event in Las Vegas called “Follow the Rabbit,” exclusively for NFT holders. A generous gift comprising earth, fire, lightning, and water, representing the four Azuki elements, was presented to the holders among the 20,000 NFTs.
Subsequently, the remaining NFTs were made available on Tuesday at 9 a.m. PT. Azuki NFT holders were privileged with a 10-minute window for minting before the sale, while BEANZ holders, participants in a derivative project, gained access 10 minutes later. The general public was scheduled to have access to the sale at 9:20 a.m. PT.
Azuki Elementals have sold out in the presale with the entire allocation going to the Azuki and BEANZ community. There will be no public sale.
Trading and reveal will open shortly. pic.twitter.com/CVk3kRIqU6
— Azuki (@Azuki) June 27, 2023
Azuki and BEANZ holders were required to deposit 2 ETH to participate in the presale. The incredible demand resulted in the entire collection being sold out within 15 minutes, rendering a public auction unnecessary. Etherscan records indicate that the Elementals mint money wallet address amassed 20,000 ETH, equivalent to approximately $38 million.
However, customers who had previously possessed Azuki or BEANZ NFTs and hoped to upgrade to an Elemental NFT expressed their disappointment over their inability to do so during the minting process. Some individuals attributed the frustration to issues with the minting platform, while others lamented the limited timeframe provided for minting.
went from the highest highs to the lowest lows, all I got were errors and was ready to mint 20 ELEMENTALS, instead I got ZERO
— illen⛩🐉🐇 (@illumanbeing) June 27, 2023
The overwhelming response to Azuki’s ecosystem expansion reflects the growing popularity and market demand for NFTs. The rapid sell-out and substantial funds raised within a quarter of an hour demonstrate the significant interest and investment potential surrounding digital collectibles. Azuki has firmly established itself as a dominant player in the NFT space, and the success of this recent venture undoubtedly bolsters its position.
As the NFT market continues to evolve, it is expected that platforms like Azuki will continue to captivate both collectors and investors alike. The instantaneous success of the Elementals release serves as a testament to the incredible momentum and enthusiasm propelling the NFT industry forward. Consequently, Azuki’s achievement solidifies its standing as a significant platform in the ever-expanding world of digital art and collectibles.