Azuki NFTs Doubled in Price. Then Holders Got an Airdrop

key takeaways

  • Azuki announced an airdrop of NFTs for his starters on Wednesday night.
  • For every Azuki NFT held, the owner has received two undisclosed “somewhat” NFTs.
  • The minimum price for airdropped NFTs currently stands at 3.14 Ethereum, putting the cumulative value of the new collection at over $213 million.

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Azuki has airdropped 20,000 NFT “something” to its holders. New NFTs currently have a minimum price of 3.14 Ethereum on the secondary market, putting the cumulative value of the airdrop at more than $213 million.

Azuki owners receive Airdrop

Another NFT airdrop is making waves in the crypto space.

Azuki, an anime-inspired NFT project that describes its members as the “skaters of the internet,” hosted an airdrop last night at an NFT private party in Los Angeles for its headlines. Each Azuki NFT holder has received two undisclosed “something” NFTs, currently represented by an airdrop crate with an eye peeking out between two of the wooden panels.

Spot the eye (Source: Open sea)

“We are building Azuki and together we are shaping the future of Web3”, said ZAGABOND, a member of Team Azuki, who took to the stage at the start of the Azuki Garden Party in Los Angeles on Wednesday night. “So let’s see how deep this rabbit hole goes; Azuki’s universe is just beginning to unfold,” he continued before telling the audience to check their wallets.

Azuki is one of several NFT avatar collections that have skyrocketed in value in recent months. Despite only being released in early January, the collection currently has the seventh highest All-time trading volume on the OpenSea NFT market, reaching over 154,000 Ethereum, or $523 million at current prices.

While no information has been released about what NFTs of “something” will reveal, it hasn’t stopped speculators from trying their luck in the secondary market. The minimum price of Air-dropped NFTs it currently stands at 3.14 Ethereum, putting the cumulative value of the 20,000 “something” at over $213 million. With each holder receiving two new NFTs, that equates to a payment of around $21,000 at current prices.

However, a Twitter user who calls himself FastandLucid believes he has it worked that airdropped NFTs will reveal multi-track pigs in the NFT artwork. A hint from Wordle about the airdrop box matches part of a puzzle posted in an earlier tweet from Azuki and leads to the word “bacon”. Also, the text at the bottom of the box reads, “Fine Farm Exports,” suggesting a connection to a farm animal. Whether FastandLucid has cracked the puzzle or just found a wild match remains to be seen.

Azuki minted about 1 Ethereum, while the cheapest one on the secondary market today costs more than 18 Ethereum, more than $60,000 at current prices. Demand for NFTs has skyrocketed recently, with a rare piece in the collection. sells for $1.4 million Wednesday. Interestingly, a minimum Azuki price was around 9 Ethereum two weeks ago, but the collection rallied in the days leading up to the airdrop.

A similar trend occurred before Yuga Labs acquired the CryptoPunks and Meebits collections earlier this month. The minimum price of Meebits NFTs nearly tripled before the announcement, prompting several Web3 sleuths to to find out what appeared to be inside information from people who knew about the deal ahead of time. In the unregulated market for NFTs, it is certainly possible that traders who knew about the upcoming airdrop bought NFTs in advance, which in turn contributed to the surge.

Disclosure: At the time of writing, the author owned ETH and several other cryptocurrencies.

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