After a series of conflicts related to Azuki Elementals caused the entire Azuki ecosystem to be heavily affected, recently Azuki has been making important updates to revive its ecosystem. In this article, let’s join Weakhand to learn about Azuki Garden Tour and update Azuki’s recent activities.
Before jumping into the article, everyone can refer to some of the following articles to understand better.
- What is Azuki? Overview of the Azuki NFT collection
- With Azuki Elementals, is Azuki turning his back on the community?
- Azuki: Overcoming his dark past to become Supreme in the NFT market
What is Azuki?
Azuki is a collection of 10,000 NFTs with Anime-inspired images. Although not the first collection developed in anime style, Azuki is definitely the most successful anime NFT collection at the moment.
Azuki’s success in the NFT market is undeniable starting from the right direction from the beginning. It was noticed that at that time, Bored Ape Yacht Club (BAYC) had become extremely prominent, but the community was mostly located in Europe and America. Therefore, Azuki decided to exploit the Asian market that has not received much attention. This decision has helped Azuki create a large and diverse Asian community and also helped Azuki become as successful as it is today.
What’s special about Azuki Garden Tour?
On October 20, 2023, Azuki announced the launch of Azuki Garden Tour with a journey spanning across 5 Asian countries including: Hong Kong, Taipei, Melbourne, Shanghai and Tokyo, of which the first starting location is is Hong Kong on November 2, 2023.
This event requires participants to hold an NFT of one of the NFT collections such as: Azuki, Beanz and Azuki Elementals. The choice of location is not random, they will focus on locations with the most active and bustling Azuki owners and collectors.
When participating in Azuki Garden Tour, users will receive a passport and at each event attended, users will receive an additional stamp in their passport. Additionally, if users do not attend in person, they can still collect stamps by purchasing event NFTs from the organizers.
So how will this help Azuki if Azuki Garden Tour is successful:
- Minimize costs and resources for Azuki: By allowing your community to organize its own events, this will significantly reduce the burden on the project. By leveraging the community, they can ensure events run seamlessly without draining the Azuki development team’s resources and finances.
- Opportunities to promote community talents: Azuki will leverage a network of real NFT holders willing to contribute their expertise to enhance the project’s success.
- Opportunities to connect local members: The inherent nature of NFTs and web3 means the community is global. Organizing events around the world is a huge task for any project. Azuki’s event hierarchy strategy solves this. Delegating event planning to local community members means events are more frequent and locally relevant, promoting closer-knit sub-communities across the globe.
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Promoting talent for future work: Community-led events can serve as a platform to find new talent. People who stand out in event organization and management will become potential candidates for official roles in the project.
Overall, Azuki Garden Tour is oriented by Azuki to connect holders in the Azuki community and create cohesive Azuki communities from all over the world.
Has Azuki Revived?
Besides Azuki Garden Tour, I see there are 3 points that Azuki is aiming to develop:
- Launch of Origin of the Garden: This shows that Azuki is having the idea of releasing a manga series through stories revolving around Azuki.
- Collaborate with a number of other parties in launching physical products: In recent times, Azuki has been accelerating its presence in the real world market through a partnership with the Museum of Mahomes to release a physical version of the Azuki IKUZO, partnering with K11 to launch physical versions Mooncakes with Azuki’s image,…
- Entering the Gaming market: According to some rumors, Azuki is hiring programmers to develop Azuki-branded games.
In my opinion, the fact that Azuki owns one of the largest and “strongest” communities in the NFT market is undisputed. Perhaps Azuki also realizes the weakness in his model that focusing only on community development and launching new collections will make the model unsustainable and reduce the incentive for holders to hold NFTs. .
Therefore, this change in direction is reasonable. However, Azuki should only focus his efforts on one area instead of spreading them out evenly and ultimately not achieving any results. Let’s look at the successful case of Pudgy Penguins, their initial goal was to focus on the real world market through Pudgy Toys and allow people to use items that can be scanned in the QR code of each physical product. Log into Pudgy World.
Up to this point, Pudgy Toys was considered a success with $10M in revenue from selling physical products. Recently, Pudgy Penguins also revealed that it will deduct a portion of revenue from selling physical products to some Pudgy Penguins NFT holders and will then expand more NFTs in the Pudgy Penguins collection. This shows that if Pudgy Toys is more successful, Pudgy Penguins NFT owners will benefit a lot.
Therefore, if Azuki focuses on physical or gaming products, it should take steps to develop the platform like what Pudgy Penguins did if it wants to maintain and develop its brand.
summary
In recent times, Azuki’s floor price has had quite good growth, which has eased criticism towards Azuki in recent times. However, for sustainable development, Azuki needs a spearhead to focus on. Above is all the information I want to update about Azuki and Azuki Garden Tour. I hope everyone has received useful knowledge.
