Quick take:
- NFT project Azuki has galloped into first place on OpenSea’s top collections by 7-day transactions volume.
- The metaverse NFT collection dropped in three different phases last week.
- The team behind the collections includes former Google and Facebook execs while Blizzard’s Art Director is also onboard.
Metaverse NFT project Azuki has whizzed to the top of OpenSea’s top collections based on the transaction volume for the last seven days. The collection ran a multi-phased NFT drop last week, starting with Dutch Auctions, followed by a second phase dubbed Mintlist, and then the final public sale.
The project is based on a metaverse world called The Garden, which can be accessed by purchasing one of the 10,000 non-fungible tokens issued. The tokens were issued at 1 ETH apiece during the Dutch Auctions, dropping by 0.05 ETH after every 20 minutes until the price reached 0.15 ETH.
In the second phase, collectors were able to buy the NFTs at half the price of the final NFT sold in the Dutch Auctions phase. Collectors buying during the final phase paid the full price of the final NFT sold during the first phase.
The project claims to be fully decentralised through community governance, although it doesn’t use the DAO as an acronym (decentralised autonomous organization).
Since going live, it has accumulated a transaction volume of 14.7k ETH, an equivalent of $45.8 million, making it one of the most popular collections since last week.
Although it is not clear why the volume has rocketed since the drop, some NFT enthusiasts think it could have something to do with the approach the company took to launch the collection.
Azuki also posted an image on their Twitter account about an upcoming reveal, which drops on Thursday, Jan. 20 at 12:00 PM PST.
As a result, collectors could be purchasing Azuki NFTs in anticipation of the reveal.
The creators of the Azuki NFT collections say it is built around seven principles, which include captivating creativity, community governance, the metaverse, blockchain gaming, real-world branding, socialized gaming and multi-pronged community rewards.
Among the people behind the project are former executives of Google and Facebook, as well as, a current art director at Activision Blizzard, the gaming company Microsoft bought for $69 billion.
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