The much-anticipated Azuki Elementals NFT drop has been met with widespread criticism over the artwork being too similar to the original Azuki collection. As a result, holders have rushed to sell their Elementals well under the mint price, causing a free fall in the floor price.
The Elementals collection stirred excitement during launch, with each of the 10,000 NFTs selling for 2 ETH (approximately $3,800) each. However, shortly after the artwork reveals, the prices fell even further to a disappointing 1.32 ETH ($2,490).
Many collectors and creators have expressed dissatisfaction with the Elementals artwork, arguing that it bears too close a resemblance to the original anime-inspired Azuki PFPs. Some have even pointed out noticeable flaws, such as a wand without a handle in one of the pieces.
As a result of the controversy, the floor price for the original Azuki collection has also taken a hit, falling by 32% over the last 24 hours.
In a surprising twist, speculation has emerged that Chiru Labs may have intentionally released the Elementals collection with nearly identical artwork to spur controversy and attention. The theory suggests this could be a lead-up to an exciting update of the artwork, thereby driving engagement.
However, the team has not yet commented on these rumors.
In the meantime, holders of Elementals NFTs are left wondering what the future holds for their investment. Will the artwork be updated? Will the floor price recover? Only time will tell.
GreenBean NFTs are to be airdropped as an apology
In an attempt to make amends for the controversy, the Azuki team has announced that they will be airdropping new NFTs to holders of Elementals. These NFTs, called GreenBeans, will be unique and have a special utility.
The airdrop is scheduled to take place on July 15th. In the meantime, holders of Elementals can stay up-to-date on the latest developments by following the Azuki team on social media.
Conclusion
The Azuki Elementals NFT drop has been a major disappointment for many collectors. The controversy surrounding the artwork has caused the floor price to plummet, and the future of the collection is uncertain.
Only time will tell if the Azuki team can recover from this setback. However, the airdrop of GreenBean NFTs is a positive step, and it could help to restore some of the confidence that has been lost.
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