Azuki coin issuance order number can earn $40,000? Hyperliquid and Kaito communities reap the benefits

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ODAILY
01-13
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Original | Odaily (@OdailyChina)

Author | Wenser (@wenser 2010)

After the success of Pudgy Penguins, Azuki is now launching its own token.After a 3-year wait, the "Azuki token launch" has finally arrived.

This morning at 8 am, @animecoin released a detailed announcement about the upcoming launch of the ANIME token in January, mentioning that 37.5% of the tokens will be allocated to the Azuki community. This announcement was later reposted by the official Azuki account.

Upon the news release, the Azuki NFT series saw a broad increase, with the floor prices of Azuki Elementals and BEANZ rising over 20% in 24 hours. Many community members are hoping that the Azuki token launch can create another "NFT wealth creation miracle" like the Pudgy Penguins token launch, with some even analyzing that a single Azuki NFT could be airdropped tokens worth $40,700. The outcome remains to be seen, but for NFT players, this could be a chance to have a prosperous new year.

Odaily will summarize the information related to the Azuki token launch and make a brief comparison with the PENGU token airdrop expectations, for readers' reference.

Explaining the ANIME Token Economics: Over 50% Community Airdrop, HYPER Stakers and Kaito Yappers Reap the Rewards

According to the token economics document released by the Animecoin official, "ANIME is a cultural token - it (aims to) transform a community of 1 billion anime fans into a community-owned creative network. Here, passion becomes power, cultural energy becomes true value, and the boundaries between consumers and creators (will) disappear."

The total supply of ANIME tokens is 10 billion, with an initial circulating ratio as high as 76.94%, i.e., 7.694 billion tokens, planned to be deployed on the Ethereum mainnet and Arbitrum - this is a rare "token with large initial circulation" compared to those with unlock periods of 1 year or 3-4 years. ANIME gives the impression similar to the previous Element series NFT sale: to get the tokens out to the market as soon as possible.

Token Economics Diagram

The specific ANIME token allocation is as follows:

Additionally, as part of the TGE, the Hyperliquid community (HYPE stakers), Kaito yappers, Arbitrum community and relevant anime communities will receive ANIME token airdrops as partnered communities, which have been confirmed by the Hyperliquid official, Kaito official, and Arbitrum official respectively. The Arbitrum official even directly changed their official account avatar to an Azuki NFT image.

Detailed Introduction of ANIME Token Allocation

Interpreting the Token Economics Model: Azuki Official "Playing Tricks", Over 60% Allocated to Official-Related Organizations

Upon closer inspection, the "hidden information" in the ANIME token allocation includes the following:

  • First, the Azuki official token allocation proportion is unreasonable. From the allocation data, the Azuki-related community's share of ANIME tokens seems to be 50.5%, but the token allocation to official-related organizations such as AnimeDAO, Animecoin Foundation, team and advisors, and Azuki company reaches a staggering 60.5%, with the Azuki community only accounting for 37.5%. Furthermore, it is well known that many Azuki official team members are also major holders of Azuki NFTs, so a considerable portion of the community token allocation will also flow into the official's hands, whether it's controlling the chips or pushing up the price, there are no obstacles.

  • Secondly, the airdrop proportion for partnered communities is too low. Although the Hyperliquid community, Kaito community and Arbitrum community seem to have received a 2% ANIME token airdrop, this is far lower than the token allocation to the Azuki official team, advisors and Azuki company, much lower than the allocation ratios in other projects. For example, Pudgy Penguins allocated 24.12% of PENGU tokens to other communities, including ETH OG and SOL OG ecosystems.

  • Finally, the total circulating supply is too high. Excluding the 23.06% of tokens held by the Azuki official team, advisors and Azuki company, the remaining 76.94% of ANIME tokens will be fully circulated at TGE. This means that ANIME will face massive selling pressure at TGE, and combined with the recent market data, this move is similar to Azuki's previous action of withdrawing 20,000 ETH of liquidity from the market when issuing the Element series NFTs.

It is worth mentioning that the Azuki official is still good at "creating expectations" - in the Animecoin Foundation allocation column of the token allocation document, Azuki official combined it with the classic move "Limitless Void" of the popular anime "Jujutsu Kaisen" character Satoru Gojo, naming it "domain expansion" to let the community and market speculate on the possibility of Azuki's future cooperation with Jujutsu Kaisen.

Although the author guesses that this is most likely just a meme, there will still be many people holding such expectations, which will generate higher expectations for the market performance of ANIME.

ANIME Initial Circulating Supply Close to 77%

Airdrop Expectations: Element NFT Airdrop Potentially Worth $4,000+, Azuki Airdrop Potentially Worth $40,700+

According to the statistics of Azuki community member A Raving Ape based on Azuki collector score data,

  • There are about 23 million collector system points in total;

  • If the ANIME token FDV market cap reaches $2 billion, the airdrop value for a single Azuki NFT would be around $32,600; the airdrop value for an Element NFT would be around $3,260;

  • If the ANIME token FDV market cap reaches $2.5 billion, the airdrop value for a single Azuki NFT would be around $40,700; the airdrop value for an Element NFT would be around $4,070;

  • If the ANIME token FDV market cap reaches $3 billion, the airdrop value for a single Azuki NFT would be around $48,900; the airdrop value for an Element NFT would be around $4,900.

Data on the airdrop value of different levels of Non-Fungible Tokens (NFTs) under different FDV market capitalizations

ANIME VS PENGU: NFT floor price is lower, and the airdrop may not be as good as the latter

Prior to the launch of Pudgy Penguins, the floor price of Pudgy Penguins NFTs once reached around 35 ETH, worth about $140,000; Subsequently, the number of PENGU tokens that can be claimed per NFT is 1.8 million, and based on the peak trading price of $0.055, the airdrop return per NFT is about $99,000. (See details in the article "Pudgy Penguins Launches Airdrop Feast, Will It Drive the Launch of Blue-Chip NFTs?")

Currently, the PENGU price is reported at $0.028, the circulating supply is around 62.8 billion, the total supply is about 88.888 billion, the circulating tokens account for about 70.71%, and the market capitalization is about $1.8 billion.

As of the time of writing, the Azuki NFT floor price is reported at 14.14 ETH, worth about $44,000; the Azuki Elementals NFT floor price is reported at 1.8 ETH, worth about $5,500.

Considering that Azuki has not yet released the ANIME token snapshot time and the specific rules for claiming the ANIME token airdrop, we are temporarily using the floor price and the initial circulating supply as the main standards for market capitalization comparison.

Comparing the NFT floor prices, the price of a single Azuki NFT is about 31% of the peak price of a single Pudgy Penguins NFT;

In terms of the ratio of initial circulating supply, the initial circulating supply of ANIME is about 108.8% of the circulating supply of PENGU;

Combining the past performance of the PENGU token, the market capitalization range of the ANIME token is estimated to be $1.944 billion to $3.758 billion, and the price per token is estimated to be around $0.19 to $0.37.

Conclusion: The narrative of anime development may be difficult to sustain, and Azuki still needs a new path

In summary, the price support of PENGU is not only due to the IP route of Pudgy Penguins, but also the influence of the parent company Igloo Inc's acquisition of Abstract to build a new L2 network. In comparison, Azuki's "anime IP route" not only has higher costs, but also higher risk-return, and lower market acceptance.

Perhaps due to this, the Azuki NFT floor price of 25 ETH is still far from the high point, and when ANIME is officially launched in the near future, the Azuki official team Chiru Labs will need to paint a more grand development blueprint for the market, otherwise the ANIME market price may further decline, and the market capitalization may be difficult to maintain above $2 billion.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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