Chiru Labs managed to amass a whopping $38 million worth of Ethereum during its Elementals debut. The Azuki assets sold out in an intense 15-minute sale, preventing the general public from placing any bids. However, following controversy online, it appears the project is not all it was cracked up to be.
Quick Takes:
- During the Elementals launch, Azuki and BEANZ holders capitalized on early access, snapping up all available 10,000 assets in fifteen minutes.
- The artwork of Elementals was highly-anticipated. However, criticism soon arose following the sell-out, with collectors stating that the digital art mirrors previous avatars.
- In response to growing debates online, Azuki quickly opened the gates to its Hilumia metaverse to Elementals holders, enabling collectors to boost the rarity of their assets.
Elementals Market Performance Amid Backlash
Azuki and BEANZ holders had early sale access for the Elementals NFT launch, ten and twenty minutes before the public sale. Not taking the privilege for granted, the already-Azuki members snapped up all 10,000 assets in just fifteen minutes. Such activity caused a stir among those who had anticipated purchasing an Azuki asset for 2 ETH ($3,800).
The leftover portion of 10,000 Elementals was issued to Azuki’s ‘Follow the Rabbit‘ event attendees. This event, held in Las Vegas last Friday, was an exciting opportunity for participants to grab a coveted Elementals NFT. The quick sell-out and issuing of the NFTs showcased the enduring interest and buzz surrounding the Azuki brand.
Post all 20,000 collectibles being seized, Azuki finally unveiled Elementals’ highly-anticipated artworks. The creations were criticized for failing to meet community expectations over too closely replicating previously launched Azuki avatars. This was a surprising outcome, given Chiru had claimed Elementals to be its most demanding artistic project thus far.
Many Elementals holders took to Twitter to moan about the disorderly minting process and the profile pictures mirroring already launched collectibles, diminishing Azuki’s value as a result. Other collectors stood up for the NFT brand, stating that glitches and metadata issues were the cause of duplication and that all concerns were being rectified.
Nevertheless, acknowledging the growing debates and controversy between collectors, Azuki affirmed the project’s commitment to resolving all issues and clarifying misunderstandings:
What’s Next for Elementals?
Amidst Azuki Elementals controversy, the renowned NFT project is demonstrating a significant effort to appease all its holders. The team behind the project is expressing regret and taking tangible actions to resolve all issues.
On account of this, an immediate measure was put into place, involving opening the gates of its Hilumia metaverse for all Elementals collectors. Now having access to Azuki’s virtual world, Elementals holders can interact with their NFTs in novel ways. Moreover, they can enhance their assets by earning a new trait to boost its value.
Azuki’s swift response in introducing this feature signals a solid commitment to making amends and improving its community’s experience. Chiru Labs is now on a mission to deliver value to its holders and recover its reputation.
Subscribe to the NFT Lately newsletter to receive news covering the latest NFT drops, releases, reviews, and more.
