Interpretation of Azuki and Beanz from the perspective of data, how to fight against market fluctuations

Introduction

**What kind of magic power can a red bean have? **

Azuki is a collection of 10,000 anime-inspired non-fungible tokens (NFTs). Since its launch by Chiru Labs in 2022, it has become a strong force in the Web3 space. Azuki's launch saw the collection sell out in minutes and amasse over $29 million in funding. The project owes its status today to its diverse and loyal community. Stunning statistics aside, what makes Azuki unique is actually the team's ambition to create a gamified metaverse. Their goal is to create a space called Hilumia that provides an immersive and interactive experience for its holders.

This report provides a comprehensive analysis of Azuki and Beanz's performance in the NFT market, focusing on their community strength, lending dynamics, and strategic partnerships that drive their resilient growth. We will explore their trading activities, holder rules, loan volume and cross-platform attractiveness from a data perspective, and show how these two projects have made a difference in market fluctuations.

IPX x Chiru Labs: A Revolutionary Web3 Expansion Action

Chiru Labs, the creative force behind Azuki, announced a major partnership with renowned global IP platform IPX. IPX is known for its successful collaborations with well-known brands such as BTS, Netflix and Starbucks. The alliance marks a major breakthrough in the web for LINE FRIENDS, a series of globally popular sticker characters born from the LINE messaging app.

The collaboration marks a ground-breaking combination of Web3 and existing IP, ranging from content co-creation, retail distribution through LINE FRIENDS stores, to immersive offline events. Now that BEANZ and LINE FRIENDS have begun, this collaboration is likely to expand to other IPs, including those managed by IPX's designated Web3 partners.

The impact of this collaboration is significant as BEANZ's IP will be presented to millions of LINE FRIENDS consumers through this opportunity. The success of the IP expansion not only meant that Chiru Labs and IPX combined similar user bases, but also expanded their user base in a way that few NFT projects have been able to. The endorsement of IPX by an influential brand like BTS has further fueled this collaboration.

Follow The Rabbit: Hype Heat, Mystery and Details

Azuki is back and they will be hosting an exciting event - "Follow The Rabbit" on June 23, 2023 at Hakkasan Nightclub in Las Vegas. Their previous "Check Your Wallets" and NYC NFT events were well-received. And they also promised to provide participants with an immersive experience at this event in the Year of the Rabbit.

The registration channel has been opened as early as mid-April, giving priority to Azuki and BEANZ token holders, but due to the huge demand, Azuki has reopened the registration window until May 28, 2023. Tickets are free, non-holders are required to pay a $100 refundable deposit, and registration is handled through the tokenproof application. Attendees must be 21 years or older.

Given that Azuki has made waves in the NFT world, this event is also of great significance. Since January 2022, Azuki has created a storm in the bull market, with holders scrambling to snap up. Later, they announced a surprise airdrop at the Los Angeles party held in March, and each owner of an Azuki can get two airdropped NFTs. This approach further fueled the enthusiasm for the project. Despite the controversy, Azuki still has a way to grow and continue to occupy a place in the NFT space.

The "Follow The Rabbit" event may serve as a platform for big exposure of Azuki's future plans. As speculation mounted, some Azuki whales began buying and selling rare Azuki NFTs at floor prices. This strategy hints at possible airdrops or token distributions in the future. As Azuki prepares for the event, the attention from the outside world is also increasing, bringing a sense of suspense and excitement to the NFT community. Zagabond, the mysterious founder of Azuki, has a knack for keeping the community engaged without revealing too much, so his approach further fuels curiosity.

The event encapsulates the elements of mystery and hype that Azuki represents, making it a highly anticipated event in the NFT world. While it remains to be seen whether the event will actually feature a new series of NFTs, the level of anticipation is high.

Azuki uses Spirit DAO's comic book token properties to enhance interactivity

In an exciting development for the project, Spirit DAO, a private group of Azuki NFT collectors, has been granted the red-hot comic book token property by Azuki. Spirit DAO members can load this attribute to enhance their Azuki experience and differentiate themselves from ordinary members of the Azuki community.

This move demonstrates the synergy between Azuki and Spirit DAO, and underscores Azuki's commitment to fostering creativity, collectability, and immersive engagement. The Spirit DAO, formed of dedicated Azuki collectors, aims to cement Azuki's reputation as a force in the emerging metaverse. The comic book token attributes precisely reinforce this vision, while also enhancing the interests of Spirit DAO token holders.

The comic book token properties that Azuki has given to Spirit DAO are available through the Azuki collector profile. This move further underscores Azuki's commitment to dynamic community engagement. This new feature ensures that personalization of Azuki tokens can be a creative off-chain experience that does not affect the token's on-chain properties.

In essence, Azuki's partnership with Spirit DAO through the comic book token attribute is an important step in enhancing user interaction and collector engagement within the Azuki community. This development will surely catalyze Azuki's goal of establishing a prominent brand presence in the Metaverse.

data analysis

Looking back at the performance of the NFT market in the past three months, we found a downward trend. The market value dropped sharply 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 generally followed a downward trend—from 85,000 ETH to 75,000 ETH, a drop of 12.22%.

However, Azuki and Beanz bucked the market trend and managed to jump into strong projects thanks to the strong community support behind them and the attractiveness of the product.

Azuki

Azuki's performance remains impressive amidst a bear market trend. The resilience of the project is thanks to a number of strategic initiatives, including frequent events, a dynamic partnership with IPX, and a strong community. Although the number of holders has declined slightly, its market capitalization has continued to soar, and whale investors have increased. These phenomena also reflect the strong power of followers. The number of project transfers was high compared to sales, and there was a surge in high-value transfers. This is a sign of the Diamond Hand pattern, which means the item is considered to have long-term value. In essence, Azuki's contrarian rise reflects not only its strong market position, but also its vibrant community and strategic partnerships, which will continue to drive its growth.

Price and sales: balanced participation to promote stable growth of the project

Azuki's recent market performance is stable and has continued to grow, especially last month's floor price rose 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 small fluctuation on May 17, but the overall trend remains positive. The average price rose by 28.6%, from 13.6 ETH to 17.49 ETH. The number of transactions initiated by high-volume transactions in the market is also a key indicator of Azuki's market dynamics.

Interestingly, the number of whale buyers and sellers has remained fairly balanced, implying a stable market without significant manipulative pressure. Furthermore, it is extremely rare for both buyers and sellers to be whales, proving that the Azuki market is not just dominated by heavyweight investors, but that collectors of all classes are actively involved. This positive market performance is due to Azuki's consistent brand growth strategy and community planning. The combination of factors not only effectively continued the interest of existing collectors, but also attracted new players to Azuki's NFT market.

Market Cap & Volume: Trading Activity Stagnates, Azuki Market Cap Breaks Through Event Marketing

In the past three months, Azuki's market value has been growing in oscillation. Most notably, May 29-June 1 coincides with the release of additional tickets for the high-profile "Follow the Rabbit" Las Vegas event. The announcement of the event seemed to have a positive impact on investor sentiment, pushing the market capitalization to an all-time high of 177.77K ETH. Even after the slight drop, the current market cap stands at 175.55K ETH, reflecting an overall massive increase of 21.66%.

It is worth noting, however, that while there has been a considerable increase in market capitalization, total sales in the last month have been relatively lower than in previous months. This could indicate that while investors are optimistic about Azuki's value, deal activity has leveled off somewhat. This may also have something to do with the Las Vegas event - even with high expectations, investors still want to see the results before making further transactions.

In conclusion, market capitalization and sales volume trends suggest that Azuki's strategic partnerships and event-led marketing are positively influencing investor sentiment and contributing to the project's overall market strength. This reinforces the brand's prominence and potential for further growth in the NFT space.

Transactions, Liquidity, and Holders: Azuki’s source of market resilience is the loyal community and the confidence of giant whales

In the last month, Azuki's ecosystem has shown an interesting trend - although liquidity has declined compared to the previous three months, the number of transfers has consistently exceeded the number of sales. This speaks not only to the strong sense of solidarity in the community, but also to the diamond hand mentality of Azuki holders. They will hold the assets in their hands for a long time and expect long-term value. This mentality may be influenced by the "Follow the Rabbit" activity.

At the same time, holders decreased slightly by 1.97%, while the market capitalization increased significantly by 21.66%. This counter-intuitive phenomenon suggests that while the number of participants decreased slightly, the remaining holders increased their bets, driving the market cap higher. This is consistent with our observation of a 2.86% increase in the number of giant whales.

Over the past three months, there has been a steady increase in the number of people holding Azuki for over a year, while those holding Azuki for three months to a year have decreased accordingly. From a data point of view, the number of NFTs held for more than one year has seen an astonishing increase of 100.36% - from 2.1K to 4.4K NFT. At the same time, NFT with a holding period between 3 months and 1 year plummeted by 41.37%, from 5K to 2.9K.

This shift of nearly equal amounts from shorter to longer holding periods reveals an interesting trend: Instead of selling, many holders who held for 3 months to 1 year decided to continue holding Yes, thus entering the holding period of more than 1 year. This demonstrates strong confidence in Azuki's long-term value and growth potential, while reaffirming that Azuki's community is not just investing in short-term gains. They appear to be looking at the long term, with a deep trust in Azuki's roadmap and the project team's strategic decisions.

In essence, Azuki's ecology is a loyal and optimistic community. Despite the ups and downs in the market, they remain steadfast in their belief in Azuki's potential and strategy and look forward to the bright future of the project.

Trading Platform: Blur Jumps to Main Trading Platform for Azuki NFT

Based on data from Dune Dashboard @sealaunch, it's clear that the Blur trading platform has become a major marketplace for Azuki transactions. There are mainly the following reasons:

First, Blur's Blend (Blur Lending) feature enables traders to maximize the liquidity of their NFTs. Given the high price of Azuki NFTs, this feature offers a strong advantage to new collectors who recognize the great potential of the Azuki project. Blend allows buyers to stake their tokens, thereby creating a more flexible trading environment.

Secondly, the fact that Blend does not charge copyright fees is also quite attractive to traders. Blur, by comparison, charges a royalty of 0.5% per transaction. All things considered, Blend is more cost-effective.

Furthermore, Blur is seen as a high-value trading platform, and this view is actually supported by the platform's strong sales data. One example is Azuki #9236, an NFT that sold for a whopping 161.2345 ETH on Blur. The sale was a record-setting success, further cementing Blur's reputation. The influx of new collectors has boosted the overall standing of the Azuki project in the NFT market.

Sales ranking

BEANZ

Lower the threshold and improve the market performance of Azuki Universe

In the world of Azuki, BEANZ is a competent companion, a more cost-effective alternative. Collectors of BEANZ NFTs have increased significantly, mainly due to their low price compared to Azuki, which greatly lowers the barrier to entry into the Azuki universe. The strategic partnership with LINE FRIENDS spawned BEANZ IP and characters such as "Jay" and "Jelly", expanding BEANZ's population reach. The partnership exposed BEANZ to millions of new consumers, driving significant growth in its user base and opening up new revenue streams through merchandise and event collaborations.

Once the partnership was announced, the transaction volume immediately increased greatly, from 143.32 ETH to 679.29 ETH, a surge of 373.97%. Another notable period of increased transaction volume occurred on April 18, when it was officially announced that registration for Azuki's "Follow the Rabbit" event was accessible through wallets holding Azuki or BEANZ tokens. Participants will naturally choose BEANZ, which is affordable, so the transaction volume rose from 256.58 ETH to a staggering 1289.19 ETH, an increase of 402.45%. The trend has pushed its trading volume and market capitalization to three-month highs.

Interestingly, after the first whale trade on May 27th, there was a brief period of whale buying, followed by massive whale selling. Therefore, after a period of low liquidity in early May, the liquidity of BEANZ began to oscillate at a higher level. Despite the relative decline in holders, the market capitalization remains at its highest level in almost three months.

Sales ranking

Azuki and BEANZ's Road to Borrowing

It can be seen from Azuki's lending volume on the Blur platform that in the past month, Azuki's lending volume has been dominant near the peak of the market, and even showed rising volatility. Since May, Azuki's lending volume has witnessed a significant surge from 3437 ETH to 6408 ETH, a powerful increase of 86.44%. This trend shows that the market demand for Azuki NFT is escalating, solidifying its position as a strong competitor in the NFT ecosystem.

In early May, Azuki's daily lending volume on Blur performed well, accounting for more than 50% of total lending volume. Although it has declined slightly since then, it has maintained its position among the top three in the market, with a stable volume share of 20 to 30%. This consistency not only gives confidence to Azuki holders, but also enhances the attractiveness of Azuki and BEANZ items to potential collectors, while also increasing their market visibility. This trend shows the strength of Azuki and BEANZ in the face of adversity, and also allows the outside world to recognize their potential for continued growth in the future.

Azuki Trading Signals

Fall Likelihood (NFA)

RSI Strategy: A trading signal designed based on the relative strength characteristics of buying and selling of the RSI. A signal below the range indicates buying, while a signal above the range indicates selling. The larger the deviation, the stronger the signal.

Azuki Pricing and Pending Orders

Finding potential NFTs is where the opportunity lies.