Follow The Rabbit: What Is Azuki Planning?
Digging Deep On What Might Happen In Vegas
Hey OPJ Subscribers! Wild times as always here in web3. We’ll be covering the latest news out of the SEC on this week’s Friday recap but in the meantime…
We can’t help but find ourselves in a slightly better mood as our JPEGs show some life for the first time in what feels like forever. Even as the larger crypto world deals with the Gensler bombs misfired earlier this week, we find ourselves smiling about the fact that our cartoon bags may not be entirely dead.
And perhaps there is more good news on the horizon… with Azuki’s Vegas event, Follow the Rabbit, just around the corner, we have ourselves convinced there’s a new Azuki collection in store… And we think we have the evidence to convince you too with Zagabond and team hard at work doing their drip, drip, drip of information that reminds us of the good ol’ days…
Azuki's initial mint in January 2022 sparked a real ruckus in the NFT world. Launched smack dab in the middle of a bull run, the reveal was like watching fireworks on the Fourth of July – folks scrambling left and right to snag rares and the volume, oh the volume!
Overpriced JPEGs is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Three months later, on March 30th, came the Los Angeles party that promises to go down in NFT history after Zagabond’s famous: "Check your wallets" moment.
Side note - reply to this email and tell us which line you think is most iconic:
“Check your wallets”
“Steady lads, deploying more capital.”
“Mistakes were made in a wallet I controlled”
And just like that, every Azuki holder found themselves with an airdrop of two NFTs per Azuki they owned. In that moment, the allure of Azuki was born, shrouded in mystery and hyped up to the max.
Of course, glory in NFTs is never long-lived. Less than 2 months later, Zagabond released his infamous blog post, in which came the revelations of Zagabond’s older, anonymous projects. Backlash was swift as the community labeled him a serial rugger, but at this point, we’ve litigated Zagabond's past projects to death.
Controversy aside, we've got to give credit where it's due: Azuki has continued to grow through the bear market to become one of the strongest projects in the entire NFT space.
As one member of our council put it… “Azukis has been the only major project outside of Yuga from the last NFT cycle to hold a 10+eth floor simply by not shooting off their own genitals publicly”.
They’ve mostly laid low, with cryptic tweets from Zagabond or smaller announcements, both of which continue to stoke the smoldering fires of hype.
But now, all of that might be about to change... They've managed to build a buzzing community over the past year, without an insane amount of product to show for it. But, in just a few weeks, the big reveal at Azuki Vegas is poised to lay out their future plans.
FOLLOW THE RABBIT - JUNE 2023
Some Azuki whales have been trading rare Azukis for floors leading up to the June event, a strategy often employed when an airdrop or token claim seems imminent.
Dingaling sold or traded four of his rare Azukis for 25 floors a few months ago. Feels like he's got faith in the team's execution and wants to up his stakes if there's an airdrop or claim on the horizon.
While the brand clearly has a strong vibe, we're all waiting to see how the team handles the big leap to launch their brand's next chapter. They've been a masterclass in keeping folks hooked without spilling the beanz (get it?).
This week, OPJ contributor Peter Bogaard lays out his case for why he thinks Azuki is about to drop a new collection.
It’s time to put all the pieces together…
Why I believe Azuki is releasing a new collection in Vegas
April 21st, 2022
Zagabond likens Beanz to Bored Ape Kennel Club; leaving the door open for a new collection to surpass them as the Mutant Ape Yacht Club of the Azuki ecosystem.
June 15th, 2022
Azuki “Enter the Alley'' event is held in NYC. Zagabond is seen wearing a “Black Jade Mahjong Club'' branded jacket. Rabbits are used as the imagery with BJMC.
August 23rd, 2022
“The Alley” is added to the Azuki website as their first section on the “World Page.” There is a clear reference to Black Jade Mahjong Club. When clicked, it says [Redacted] “Do not enter.” Other writings within the alley describe a magical gate that leads to “The Garden,” mentioning different animals that hold great significance in it. Again, a rabbit is used as imagery with the BJMC.
September 22nd, 2022
“The Ruins” is added to the Azuki website as their second section on the “World Page” and it looks to be set in “The Garden.” Sloths, Frogs, Cats, Red Pandas, and Dragons are 5 of the 9 parts of the shrine. These animals could be magical rares in a possible new collection.