Azuki NFT Review / Part 01 .
Assalamualaikum I hope everyone is well. Today I am again going to tell about a new NFT. The NFT that I will discuss with you today, maybe many of you will be familiar with it. Due to the decline of the cryptocurrency market, the whole web 3.0 world is in bad shape. In particular, the situation in the NFT marketplace has worsened. Now the bull market has started. So it is expected that the NFT market will be very good now.
Today I will discuss with you Azuki NFT. Those who know about Web 3.0, they might know about this Azuki NFT. So let's talk a little about Azuki NFT.
Today's NFTs are digital artworks. A prominent name in the NFT space is Azuki founder Azuki, pseudonym Jagaband. Which is built on the Ethereum blockchain. This NFT looks very nice. So many people buy it as a profile picture. It mainly gained popularity as a profile picture. The hair, eyes and background are very beautiful.
Minting on the Ethereum blockchain. The initial mint price was 1 ETH which has increased 6x to currently 6 ETH. It basically has 10000 NFTs. The value of these NFTs fluctuates widely due to many controversies. As a result the floor price dropped from 16 ETH to 6 ETH. Every NFT has some problem behind it. That's what happened to Roop Azuki.
Azuki NFT gained a lot of popularity from its inception. But after a few days the main problem appeared. New NFT marketplaces like Azuki NFT appear. Very similar to the original Azuki collection. Chiru Labs, the company responsible for Azuki's NFTs. Because they made NFT just like Azuki. Due to this the original Azuki value decreases. There was a lot of debate about this issue. The controversy resulted in a group of disgruntled Azuki NFT holders demanding more than $38 million in refunds. This later led to legal threats.
I am Md. Ebrahim Islam Nahid. Everyone calls me Nahid. I am Bangladeshi. I am an Electrical Engineer. I love reading books, writing and creating new things. I try to express myself and evaluate the opinions of others.
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