Azuki ‘Elementals’ Mint Mishap Is a Reminder of the Precarious State of the NFT Market

Final Friday, the Azuki group held a token-gated occasion in Las Vegas known as “Follow the Rabbit,” the place they airdropped a portion of the unrevealed Elemental NFTs to holders in attendance. On Monday, the group introduced particulars of the mint, explaining that the remaining Elemental NFTs could be bought in 10-minute rounds – first to holders of Azuki NFTs, then to BEANZ holders after which to most people. The sale was meant to be held Dutch public sale model, the place the value of the NFTs would start at 2 ETH and would lower by 0.1 ETH, or about $200, each 5 minutes till the entire NFTs had been bought.