Most important points:
🚨BLEND ANNOUNCEMENT🚨
Blur Lending (Blend) support is now live for Azuki Elementals and Elemental Beans. Both collections are eligible for feature bid points. pic.twitter.com/0FVDmEC3Gm
— Blur (@blur_io) Jul 10, 2023
Users share that the 0.5% royalty fee will keep market participants fairer, but with Blend this fee is not lost, this causes participants to dump, resulting in the others not receiving opportunity costs, ultimately inefficient and losing trades. That could exacerbate the current price-cutting trend of new collections in Azuki’s ecosystem.
Centralized Royalty Filters: The way to keep NFT secondary royalties and stop aggressive farming?
No.
Blur just added Blend to the Azuki Elementals & Beans collection.
This allows all transactions (and farmers) to sell for 0% royalty.
Number 5%. Not 0.5%.
0%. pic.twitter.com/jn3HNIqK7i
— Mihai (@presentlyMihai) Jul 10, 2023
As previously updated, despite raising $38 million in just 15 minutes of opening, the irreplaceable anime-style token collection “still hasn’t hit the mark” for the New Elementals NFT sequel. However, some Azuki NFT owners have expressed disappointment that the new Elemental collection looks just like the last one, causing the price to drop significantly on June 28, 2023.
By the way, the problems in the minting process also caused the new collection of Elementals to be undervalued this time around. Azuki’s floor price also fell by about 20% long after publisher Chiru Labs announced the new Elementals collection.
Since this collapse, a series of other famous collections such as CryptoPunks, Bored Ape Yacht Club, Mutant Ape Yacht Club, Doodles and Cool Cats have been hit and drastically reduced in price. According to CoinGecko data, these collections are down 18-33% over the last 3 days (June 10-13).
The NFT market has fallen into chaos, leading the Blur NFT Marketplace to receive many allegations that this trading platform has caused the price of NFT to fall recently.
The community is targeting Blur as many whales use the platform to manipulate prices and grow airdrops on Blur. Some other opinions suggest that Azuki’s intense sell-off is due in part to the lending platform developed by Blur itself.
DISCLAIMER: The information on this website is intended as general market commentary and does not constitute investment advice. We recommend that you do your own research before investing.