Azuki Labs recently released their new NFT collection called Elementals, which has faced criticism from holders and market observers. Many believe that the Elementals collection bears striking resemblances to Azuki’s previous collection, despite having different branding. The community expressed disappointment in the similarities and perceived the new collection as a lower-quality version of the original. Additionally, there were reported issues with the sale format, leading to disruptions during the sale and preventing some collectors from purchasing the NFTs.
Key points:
– Azuki Labs’ Elementals NFT collection faced backlash for its similarities to the previous Azuki collection.
– Community members expressed disappointment and labeled Elementals as lower-quality.
– There were reported mishaps with the sale format, causing disruptions and preventing some collectors from purchasing the NFTs.
Azuki’s release and the criticism it received reflect a larger concern in the NFT space. Some believe that all profile picture (PFP) NFTs are destined to lose value, leading to a decline in prices. Azuki had two potential choices: take no action and let people sell their NFTs, or introduce more NFTs, which would dilute the value of the existing collection. This situation challenges the idea that PFP NFTs have inherent long-term value and highlights the artistic value as the primary utility of NFTs.
Hot Take:
Azuki Labs’ release of the Elementals NFT collection faced significant backlash for its similarities to the previous collection and the reported disruptions during the sale. This situation highlights the challenges facing PFP NFTs and questions the long-term value of such assets. The incident also emphasizes the importance of maintaining quality and distinguishing new collections from previous ones to avoid disappointing the community.
Continue reading on Crypto.news
