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Cracking open a colossal cash stream in less than 15 minutes, Azuki's highly anticipated "Elementals" non-fungible tokens (NFTs) amassed an astounding $38 million on their launch day. These NFTs, themed around earth, fire, lightning, and water, caused a digital storm when they made their debut on the NFT marketplace.
Last week, a select group of Azuki NFT owners gathered in Las Vegas for an exclusive event called "Follow the Rabbit." During this gathering, attendees were given a sneak peek of the "Elementals," and some even received an airdrop of these highly sought-after NFTs.
To participate in the presale, Azuki and BEANZ holders were required to deposit 2 ETH. In a whirlwind 15-minute period, the entire collection was swiftly sold out, rendering the planned public sale unnecessary. According to Etherscan data, the Elementals mint fund wallet received 20,000 ETH, equivalent to over $38 million.
However, the grand launch did not go without its challenges. Some Azuki and BEANZ owners expressed frustration over technical glitches during the minting process and the limited timeframe, which prevented them from acquiring the coveted NFTs. Chris Lepensky from DAO operations firm Utopia Labs criticized the website errors and contract issues that hindered many Azuki holders from successfully minting.
In response to the mishap, Azuki co-founder and Chiru Labs executive Location tba took to Twitter to address the less-than-satisfactory minting experience. He acknowledged that while Azuki holders were able to mint 7,600 of the available 10,000 NFTs, the remaining NFTs were minted by BEANZ holders.
