Azuki NFT - The Ultimate Guide

What is Azuki NFT?

The Azuki NFT collection is minted as an ERC-721 non-fungible token on the Ethereum blockchain and is unique, meaning that no two tokens are alike.  The series was launched in January 2022 by founder Zagabond and has been growing in popularity ever since.

Ownership of an Azuki NFT grants investors access to 'The Garden' - a private group of high-profile artists, builders and web3 enthusiasts who meet and collaborate to build the decentralized future. Azuki holders also get exclusive access to airdrops, experiences and derivative NFTs like Beanz.

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Azuki Traits and Rarity

The collection of 10,000 Azuki differentiates themselves from each other with different traits which include hair, clothes, background, skin type, special abilities and objects like swords, skateboards and other items.

The most valuable Azuki types are 'Spirit' which represents 0.97% of the total collection. The current floor price for an Azuki Spirit type is around 150 ETH, which is over $200,000 US dollars as of the time of writing. The next most valuable trait is Azuki's who have gold clothing, items and objects and they are generally worth around 20 ETH per NFT.

Azuki NFT Floor History

The floor price for Azuki NFTs has been increasing steadily since their launch in January 2022. In the early days, Azuki were changing hands for around 1 ETH each. By April of that year, the floor price had sky-rocketed to over 30 ETH and has since settled to around 10 ETH, meaning the collection has retained over 10x in value.

The growth has been largely due to the team having released several experiences, derivatives and airdrops to keep investors interested and locked in.

How much is Azuki NFT Worth?

The Azuki NFT Collection has a floor price of 15.2 ETH, meaning the minimum price that the collection is being traded for is 15.2 ETH. Based on current Ethereum (ETH) prices, this means that the minimum price for an Azuki NFT is $25,000 USD.

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Zagabond Controversy

The key point of controversy for the Azuki project is their founder, Zagabond. Zagabond is a well-known member of the Ethereum community and has been involved in a number of NFT projects and companies over the years.

In late 2021, Zagabond was accused of plagiarism by several members of the community after he copied large portions of an article written by another member of the community without attribution. Zagabond was also found to have built a number of other NFT projects before Azuki and completely abandoned them, leaving investors with worthless collectables. You can follow Zagabond's Twitter for updates below.

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Azuki Roadmap

The Azuki project has a well-developed roadmap with a vision to create the largest decentralized brand in the metaverse that is owned by the community. The Azuki roadmap for late 2022 and 2023 includes the development of an Azuki meta-game, NFT fractionalization and financialization which enables holders to earn interest on their NFTs and much more.

You can read a comprehensive overview of their vision in the official Azuki Roadmap and Mindmap.

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Azuki BEANZ NFT Airdrop

On March 31st, 2022 - the Azuki team airdropped a project called BEANZ to NFT holders. Each Azuki holder received 2 BEANZ for each NFT they held, which are currently valued at around a 1 ETH floor price. The BEANZ series are collectable sidekicks for Azuki's that enable their own unique experiences, games and use-cases.

The airdrop was successful in both driving up the price of Azuki's as well as introducing a new project with high potential to Azuki holders.

Final Thoughts: Is Azuki a Good Investment?

The Azuki NFT series is a good investment for those who are interested in digital collectables and are willing to take on the risks that come with investing in early-stage projects. The price of Azuki's has been increasing steadily since their launch and there is a strong possibility that it will continue to do so as the team releases more experiences and airdrops.

However, investors should be aware of the controversy surrounding Zagabond and the risk that comes with investing in a project that is led by an individual with a questionable track record. Overall, the Azuki NFT series is a risky but potentially rewarding investment.