Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Introduction
Azuki is one of the most successful launches in web3. Its launch generated over $29 million almost immediately, with further sales bringing in millions more. While direct funding figures aren’t detailed in the provided excerpts, the market’s response to Azuki indicates substantial backing or interest, potentially making it one of the more financially robust anime IPs in Web3.
Their mission is simple, to build the future of anime by harnessing the power of community and blockchain technology. This is what they said on their website.
In 2022, Azuki set out to create a decentralized anime brand, where the community can co-create and contribute to the IP and stories we tell, forging a new model of community-driven entertainment.
The Azuki community, through its creation of 100 subcommunities, a vast collection of fan and commissioned art, multiple community-led events around the world, and much more, has emphatically shown that it’s possible to birth a new IP that originates from web3 in the fast world of anime.
From creating the largest decentralized anime IP, to enriching the anime fandom experience with groundbreaking products, Azuki’s mission is to build the future of anime by harnessing the power of community and blockchain technology.
We rise together. We build together. We grow together.
いくぞ IKZ!
Source: https://www.azuki.com
Azuki embodies the spirit of classic anime through its unique artistic flair, producing work that rivals top anime creations while blending old-school design with modern digital techniques. It explores narratives akin to traditional Japanese tales, including heroic journeys, supernatural encounters, and magical items within a futuristic yet folklore-infused Japan. I’d say out of all the IPs I’ve researched so far Azuki and DenDekaDen have been most true to their traditional anime roots.
Azuki captivates with its dedication to preserving the essence of anime, reflecting deep Japanese cultural roots, while simultaneously adopting blockchain to redefine fan interaction and ownership of its intellectual property. Within Web3, Azuki stands as a prime example of classic anime, honoring Japanese traditions while pushing boundaries with modern technology.
Approach
The Azuki approach involves three elements: anime, tangible products, and gaming, as detailed by their official account on X.
Anime
Acknowledging the time-intensive nature of anime production, Azuki’s creators have shifted to an anthology format, allowing for diverse stories and characters per episode. They’ve assembled a notable team of anime professionals, including Goro Taniguchi, famous for “One Piece Film Red” and “Code Geass,” Junichi Yamamoto of “The Legend of Zelda: Tears of the Kingdom,” and Kinu Nishimura from “Street Fighter,” enriching Web3 with new creative vigor.
In April 2024, Azuki unveiled the inaugural episode of their anthology series “Enter The Garden,” which consists of three parts, co-produced with Dentsu. Goro Taniguchi oversees the creative direction, leveraging his reputation from projects like “One Piece Film Red” and “Code Geass.”
Titled ‘The Waiting Man,’ the first episode centers on Haru, a skateboarding rebel who feels stifled by societal norms, until she meets T.K., a mysterious individual lingering at a vending machine, waiting for someone.
The creators of Azuki have skillfully enriched the lore through multiple platforms on their site, featuring an interactive static page where scrolling uncovers the backstory of the universe. This approach not only engages visitors but also highlights the high quality of their creative work.
Physical
Chiru Labs, the team behind Azuki NFTs, has developed a groundbreaking token standard known as Physical Backed Tokens (PBTs). This standard is an open-source framework that links a real-world item to a digital token on the Ethereum blockchain, allowing for the verification of ownership and authenticity of the physical object. Chiru Labs suggests that PBTs pave the way for innovative storytelling and experiences, with the technology’s full potential still largely untapped.
In addition to the golden skateboard, PBTs, like those used for the Azuki x Satoshi Nakamoto Enduro Hoodie, can open new pathways for fans to engage with and support their favorite IPs. This introduces a novel dimension of interaction in Web3 that hasn’t been explored before.
Gaming
Azuki has announced that they are developing a hypercasual game featuring their third NFT collection, BEANZ. For those interested in more details or updates on this project, joining their Discord community is recommended.
NFT collection
Azuki’s NFTs can be traded on Magic Eden, with three collections available: Azuki, Elementals, and Beanz.
The leading collection, Azuki, has amassed a trading volume of about 821,400 ETH, which translates to over $2 billion. With the anime market projected to reach $34 billion by 2030 according to Grandviewresearch.com, this suggests Azuki currently holds approximately 5.8% of the anime market share, an impressive figure.
Barrier to entry
The entry threshold for Azuki NFTs is notably steep, with a floor price of 4.894 ETH, or about $12,245. It boasts a 40% unique ownership rate, indicating a healthy mix of both multiple and single NFT holders. You can explore the collection at: Magic Eden – Azuki Collection. Their second collection, Azuki Elementals, also has a significant entry cost with a floor price of around 0.3737 ETH, or roughly $919.
Benefits
Owning an Azuki NFT comes with various advantages such as:
- Community Access: Membership to exclusive groups.
- Exclusive Content and Perks: Access to special events, content, and benefits.
- Metaverse Integration: Use within virtual worlds.
- Cultural and Creative Engagement: Opportunities to engage with the IP’s culture.
- Resale Value and Royalties: Potential for profit through resale with built-in royalties.
- Brand Development: Influence and participation in the brand’s evolution.
- Cultural Capital: Enhances one’s standing within the broader anime and NFT community.
NFTs from Azuki also serve as a marker of status within their community. Collectors can elevate their standing by amassing NFTs and physical items linked by PBTs, interacting with the brand, and leveraging factors like rarity, NFT combinations, and trait combinations to increase their points and collector status.
Non-fungible tokens (NFTs) are featured in the animated series, with various Azuki NFTs making cameo appearances in the first episode. The anime goes beyond traditional product placement by integrating businesses owned by members of the Azuki community, providing them a unique platform to showcase their ventures within a narrative context. Notable mentions include @IkuzoCoffee, @KAIZENANDCOFFEE, and @EspressoShot100, which all have cameo roles in the debut episode.
and Azuki #6634 owned by @AlchemistXIX
.
, @KAIZENANDCOFFEE
, @EspressoShot100
Community
I’ve asked Grok to analyze the Azuki community’s characteristics based on their interactions on X, and here’s what stands out about their values:
- Web3 and NFT Enthusiasts: The Azuki community shows a keen interest in Web3 technologies, particularly NFTs, with members often discussing how blockchain can transform digital art.
- Community-Centric: The community is deeply involved, actively participating in shaping the project’s future, which aligns with the participatory nature of Web3.
- Worldwide Unity: Despite being spread across the globe, the Azuki community is tightly knit, sharing in collective achievements and conversations, such as those at global events like Devcon 2024.
- Innovation Enthusiasts: They’re excited about the fusion of anime with Web3, demonstrating a community that’s forward-thinking and open to new forms of media interaction.
- Support for Creatives: There’s a deep appreciation for the creative minds behind Azuki, with community support playing a crucial role in the project’s development.
In conclusion, Azuki is emerging as a frontrunner in the anime IP space within Web3. It exemplifies how anime projects can thrive in this new digital landscape, thanks to significant financial backing and visionary leadership, aiming to change the way anime IPs are created and shared through blockchain and decentralization.
Read about the other anime IPs building on blockchain by clicking here DenDekaDen, Kaidro, Tatsumeeko
