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Interpreting Azuki and Beanz from a data perspective: How to conquer the market fluctuations.

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This article analyzes the performance of Azuki and Beanz in the NFT market, with a focus on their community strength, lending dynamics, and strategic partnerships that drive their resilience and growth.

Original Title: "Interpreting Azuki from a Data Perspective"

Original Source: NFTGo

Introduction

What kind of magic can a red bean have?

Azuki is a series of 10,000 non-fungible tokens (NFTs) inspired by animation. Since its launch by Chiru Labs in 2022, it has become a strong force in the Web3 space. Azuki's launch witnessed the series selling out in just a few minutes and raising over $29 million in funds. The project owes its current status to its diverse and loyal community. Apart from impressive data, Azuki's uniqueness lies in the team's ambitious goal of creating a gamified metaverse. Their aim is to create a space called Hilumia that provides an immersive interactive experience for holders.

This report provides a comprehensive analysis of the performance of Azuki and Beanz in the NFT market, with a focus on their community strength, lending dynamics, and strategic partnerships that have contributed to their resilience and growth. We will explore their trading activities, holder patterns, loan volumes, and cross-platform appeal from a data perspective, showcasing how these two projects have carved out a niche in the market amidst fluctuations.

IPX x Chiru Labs: A Revolutionary Web3 Expansion Initiative

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Source: Tweet@Azuki

Chiru Labs is the creative force behind Azuki and has announced an important partnership with the well-known global IP platform IPX. IPX is known for its successful collaborations with famous brands such as BTS, Netflix, and Starbucks. This alliance marks a significant breakthrough for LINE FRIENDS in the web domain (LINE FRIENDS is a series of popular global sticker characters born from the LINE messaging application).

This collaboration marks a breakthrough combination of Web3 and existing IP, covering content co-creation, retail distribution of LINE FRIENDS stores, and immersive offline activities. Since BEANZ and LINE FRIENDS have already taken the lead, this collaboration is likely to expand to other IPs, including those managed by Web3 partners designated by IPX.

The impact of this collaboration is significant, as BEANZ's IP will be presented to millions of LINE FRIENDS consumers through this opportunity. The successful expansion of the IP not only means that Chiru Labs and IPX have brought together similar user groups, but also expanded their user base in a way that few NFT projects can achieve. The recognition of influential brands like BTS further drives this collaboration for IPX.

Follow The Rabbit: Hype, Mystery, and Details

source:Tweet@Azuki

Azuki is back again, and they will be hosting an exciting event called "Follow The Rabbit" at the Hakkasan nightclub in Las Vegas on June 23, 2023. Their previous events, "Check Your Wallets" and the NYC NFT event, were highly acclaimed. They have promised to provide attendees with an immersive experience at this event during the Year of the Rabbit.

The registration channel was opened as early as mid-April, with priority given to Azuki and BEANZ token holders. However, due to the huge demand, Azuki has reopened the registration window, which will officially end on May 28, 2023. The tickets are free, and non-holders need to pay a $100 refundable deposit. The registration process is handled through the tokenproof application. Participants must be 21 years of age or older.

Given that Azuki has caused quite a stir in the NFT world, this event is of particular significance. Since January 2022, Azuki has caused a storm in the bull market, with holders scrambling to buy. Later, they announced a surprise airdrop at a Los Angeles party in March, where every Azuki holder could receive two NFT airdrops. This practice further fueled the project's popularity. Despite ongoing controversy, Azuki has found ways to continue growing and maintain a place in the NFT space.

This event encompasses the mystery and hype elements represented by Azuki, making it a highly anticipated event in the NFT industry. Although it remains to be seen whether a new series of NFTs will actually be launched during this event, people's expectations are still high.

Azuki leverages the comic book token attributes enhanced interactivity through Spirit DAO

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Source: Tweet@Azuki

Exciting developments are underway in this project, as a private group of Azuki NFT collectors called Spirit DAO has been granted the hotly sought-after comic book token attribute by Azuki. Members of Spirit DAO can load this attribute to enhance their Azuki experience and distinguish themselves from ordinary members of the Azuki community.

This move demonstrates the synergy between Azuki and Spirit DAO, emphasizing Azuki's commitment to fostering creativity, collectibility, and immersive participation. Spirit DAO, composed of dedicated Azuki collectors, aims to strengthen Azuki's reputation in the emerging metaverse and is a powerful force. The comic book token attributes precisely reinforce this vision while also increasing the benefits for Spirit DAO token holders.

Azuki endows the comic book token attribute of Spirit DAO, which can be obtained through Azuki collector's profile. This further emphasizes Azuki's determination to participate in dynamic community. This new feature ensures that the personalization of Azuki tokens can be a creative off-chain experience without affecting the on-chain attributes of the tokens.

Essentially, through the collaboration between Azuki's comic book token properties and Spirit DAO, Azuki is taking an important step in strengthening user interaction and collector participation within the Azuki community. This development is sure to catalyze Azuki's goal of establishing a prominent brand image in the metaverse.

Data Analysis

Looking back at the performance of the NFT market in the past three months, we have noticed a downward trend. The market value has dropped significantly by 23.64%, from 5.1 million ETH to 3.9 million ETH. Although the blue chip index rebounded briefly between May 31 and June 5, it also followed the downward trend overall, dropping from 85,000 ETH to 75,000 ETH, a decrease of 12.22%.

Azuki

In the bear market trend, Azuki's performance is still impressive. Thanks to a series of strategic measures, including frequent events, dynamic cooperation with IPX, and a strong community, the project has such strong resilience. Although the number of holders has slightly decreased, its market value continues to soar, and whale investors have also increased. These phenomena also reflect the power of followers. Compared with sales, the project has transferred a lot of quantity, and the transfer of high-value has surged. This is a representation of the diamond hand mode, representing that the project is considered to have long-term value. Essentially, Azuki's counter-trend rise not only reflects its strong market position, but also reflects its vibrant community and strategic cooperation, which will continue to drive its development.

Price and Sales: Balancing Participation to Promote Stable Growth in Projects

Azuki's recent market performance has been stable and continues to grow, especially with last month's floor price rising from 13.34 ETH to 17.54 ETH, an increase of 31.38%. In addition, the average price has reached a new high for the year, marking an important milestone for Azuki. There was a slight fluctuation on May 17th, but the overall trend remains positive. The average price increased by 28.6%, from 13.6 ETH to 17.49 ETH. The number of transactions initiated by large-scale trading in the market is also a key indicator of Azuki's market dynamics.

Interestingly, the number of buyers and sellers in the Azuki market has always maintained a relatively balanced state, which means that the market is stable and there is no obvious manipulation pressure. In addition, it is extremely rare for both buyers and sellers to be whales, proving that the Azuki market is not only dominated by heavyweight investors, but also actively participated by collectors from all walks of life. This positive market performance is due to Azuki's consistent brand growth strategy and community planning. All these factors combined not only effectively continue the interest of existing collectors, but also attract new participants to join the Azuki NFT market.

Market Value and Trading Volume: Azuki's market value breaks through with active marketing despite stagnant trading activity

Over the past three months, Azuki's market value has been growing in fluctuations. The most obvious was from May 29th to June 1st, coinciding with the release of additional tickets for the highly anticipated "Follow the Rabbit" event in Las Vegas. The announcement of this event seemed to have a positive impact on investor sentiment, driving the market value to a historical high of 177.77K ETH. Even after a slight decline, the current market value is still at 175.55K ETH, reflecting a significant overall growth of 21.66%.

However, it is worth noting that although the market value has grown significantly, the total sales volume last month was relatively lower than the previous months. This may indicate that while investors are optimistic about the value of Azuki, trading activity has to some extent stabilized. This may also be related to the Las Vegas event - even with high expectations, investors still want to see results before further trading.

In short, the market value and sales trend indicate that Azuki's strategic partnerships and activity-driven marketing are positively impacting investor sentiment and promoting the overall market strength of the project. This strengthens the brand's prominent position in the NFT field and further growth potential.

Trading, Liquidity, and Holders: The Faithful Community and Whale Confidence are the Sources of Azuki's Market Recovery

Last month, Azuki's ecosystem presented an interesting trend - although liquidity decreased compared to the previous three months, the number of transfers always exceeded the number of sales. This not only demonstrates the strong sense of community in the Azuki community, but also reflects the diamond-hand mentality of Azuki holders. They will hold their assets for the long term and expect long-term value. This mentality may be influenced by the "Follow the Rabbit" campaign.

Meanwhile, the holders decreased slightly by 1.97%, while the market value increased significantly by 21.66%. This counterintuitive phenomenon suggests that although the number of participants has decreased slightly, the remaining holders have increased their bets, driving up the market value. This is consistent with the observed increase of 2.86% in the number of whales.

In the past three months, the number of people holding Azuki for more than a year has steadily increased, while the number of people holding for three months to a year has correspondingly decreased. From a data perspective, the number of NFTs held for more than a year has seen a staggering increase of 100.36% - from 2.1K to 4.4K NFTs. At the same time, the number of NFTs held for a period ranging from 3 months to 1 year has plummeted by 41.37%, from 5K to 2.9K.

This almost equal number of transfers from short to long holding periods reveals an interesting trend: many holders who held for 3 months to 1 year did not choose to sell, but decided to continue holding, thus entering the holding period range of over 1 year. This indicates a strong confidence in Azuki's long-term value and growth potential, and also reaffirms that Azuki's community is not just investing for short-term gains. They seem to have a long-term perspective on development, and have deep trust in Azuki's roadmap and project team's strategic decisions.

Essentially, the Azuki ecosystem is a loyal and optimistic community. Despite market fluctuations, they remain steadfast in their belief in Azuki's potential and strategy, and are full of expectations for the project's bright future.

Trading Platform: Blur becomes the main trading platform for Azuki NFT

According to the data from Dune Dashboard @sealaunch, it is obvious that the Blur trading platform has become the main market for Azuki trading. There are several reasons for this, including:

First of all, the Blend feature of Blur allows traders to maximize the liquidity of their NFTs. Given the high price of Azuki NFTs, this feature provides a powerful advantage for new collectors who recognize the huge potential of the Azuki project. Blend allows buyers to collateralize their tokens, creating a more flexible trading environment.

Secondly, the fact that Blend does not charge any copyright fees is also quite attractive to traders. In comparison, Blur charges a 0.5% copyright fee for each transaction. Taking all factors into consideration, Blend has a higher cost-effectiveness.

Furthermore, Blur is considered a high-value trading platform, a view that is actually supported by the platform's strong sales data. Azuki #9236 is one example, which sold for a price as high as 161.2345 ETH on Blur. This successful sale broke records and further solidified Blur's reputation. New collectors flocked to the platform, raising the overall status of the Azuki project in the NFT market.

Sales Ranking

BEANZ

Lower the threshold and improve the market performance of the Azuki universe

In the world of Azuki, BEANZ is a competent partner and a more cost-effective alternative. The number of collectors of BEANZ NFTs has increased significantly, mainly because they are much cheaper than Azuki, thus greatly reducing the threshold for entering the Azuki universe. The strategic partnership with LINE FRIENDS has given birth to BEANZ IP and characters such as "Jay" and "Jelly", expanding the population coverage of BEANZ. This collaboration has enabled millions of new consumers to come into contact with BEANZ, driving a significant increase in user groups, and opening up new sources of revenue through product and activity cooperation.

Once the partnership was announced, trading volume immediately saw a significant increase, soaring 373.97% from 143.32 ETH to 679.29 ETH. Another notable period of increased trading volume occurred on April 18th, when the official announcement of Azuki's "Follow the Rabbit" event led to a surge in trading volume after registration was made accessible through wallets holding Azuki or BEANZ tokens. Attendees naturally opted for the more affordable BEANZ, resulting in a staggering 402.45% increase in trading volume from 256.58 ETH to 1289.19 ETH. This trend pushed both trading volume and market value to a three-month high.

Interestingly, after the first whale transaction on May 27th, there was a brief period of whale buying followed by a large amount of whale selling. As a result, after the low liquidity period in early May, the liquidity of BEANZ began to oscillate at a higher level. Despite a relative decrease in holders, the market value remains at its highest level in nearly three months.

Sales Ranking

From the lending volume of Azuki on the Blur platform, it can be seen that Azuki's lending volume has been dominating the market near its peak in the past month, even showing a fluctuating upward trend. Starting from May, Azuki's lending volume has witnessed a significant surge from 3437 ETH to 6408 ETH, representing a strong growth of 86.44%. This trend indicates that the demand for Azuki NFT in the market is constantly increasing, consolidating its strong position as a competitor in the NFT ecosystem.

In early May, Azuki's daily lending volume on Blur performed well, accounting for over 50% of the total lending volume. Although there was a slight decline afterwards, it has consistently remained in the top three positions in the market, with a stable transaction volume share of 20% to 30%. This consistency not only gives Azuki holders enough confidence, but also enhances the attractiveness of Azuki and BEANZ projects to potential collectors, while also increasing their market visibility. This trend shows the strength of Azuki and BEANZ in adversity, and also makes the outside world aware of their potential for continued growth.

Azuki Trading Signal

RSI Strategy: Trading signals designed based on the relative strength features of RSI for buying and selling. Signals below the range of volatility indicate buying, while signals above the range of volatility indicate selling. The greater the deviation, the stronger the signal.