Azuki Unveils New ‘Elementals’ Collection, Expanding Its NFT Ecosystem

Popular blue-chip non-fungible token (NFT) collection Azuki is releasing a new collection inspired by the elements found within the Azuki ecosystem.

According to a press release, Azuki Elementals will include 20,000 NFTs based on the four Azuki elements of earth, fire, lightning and water. The collection includes different levels of rarity traits that will be revealed upon mint.

“Azuki Elementals expands the universe we created with the original Azuki collection," Zagabond, the pseudonymous co-founder of Azuki, told CoinDesk. "This is our most ambitious artistic endeavor to date, and we are excited to tell the next chapter of the Azuki story using art and technology.”

The sale, which opens Tuesday as a Dutch Auction, will start at 2 ETH, (roughly $3,800) and will first be available to holders of Azuki NFTs or BEANZ – another Azuki derivative collection. Every five minutes, the price will fall by 0.1 ETH, or $187, until all 10,000 of the remaining Elementals NFTs have been sold.

A portion of the NFTs from the new collection was airdropped to existing Azuki holders on Friday at an event hosted in Las Vegas called “Follow the Rabbit.”

Azuki holders received an unrevealed Azuki Elemental NFT as well as a soulbound token to commemorate the event, according to a tweet from Azuki holder and event attendee Charlie G.

“The trailer that was launched at Vegas was of a quality the space hadn't witnessed before,” said Charlie. “It's the ability of Azuki to capture the attention of a whole space that goes far beyond what we typically see in NFT projects.”

According to data from secondary marketplace OpenSea, Azuki’s floor price at the time of writing is 15.3 ETH, or about $29,000. The project has brought in a trading volume of 569,795 ETH or just over $1 billion. The floor price of BEANZ is 1.28 ETH, or $2,400, and its trading volume is about $300 million.

In October, the project auctioned off eight golden skateboards tied to “physical backed tokens,” raising $2.5 million in sales volume.