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Azuki Elementals NFTs Sell Out for $38M, But Holders Upset Over Similar Artwork

June 27 (Cointime) - Chiru Labs' Azuki Elementals NFT drop sold out in 15 minutes, generating $38 million worth of ETH. However, some holders are now selling their Elementals below the mint price due to backlash over the artwork. The new NFTs are nearly identical to the original Azuki PFPs, with only small details and alterations.

This has led to fears that the Elementals collection will dilute the value of the original Azuki project, causing a mass sell-off for both collections. Some collectors speculate that Chiru Labs released similar artwork as a fake-out to build engagement around the new collection.

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