Chiru Labs, a digital asset incubation studio, has partnered with Magic Eden, a multi-chain non-fungible token marketplace, to launch a tokenized vest themed after Satoshi Nakamoto. The Azuki NFT vest will be issued on Ethereum and Bitcoin.
Well-known brand Azuki cooperates with Magic Eden to launch NFT vest
Azuki creator Chiru Labs confirmed a partnership with Magic Eden to launch physical-based tokens on both the Bitcoin and Ethereum blockchain networks in a blog post on May 22. The Azuki x Satoshi Nakamoto Enduro Hoodie will have a unique dual-chain NFT that exists on both BTC and ETH.
We introduce Physical Backed Token (PBT) to Bitcoin.
The Azuki x SATOSHI NAKAMOTO Enduro Hoodie will have a unique dual-chain NFT that exists on both BTC and ETH, developed in partnership with @MagicEden.
pic.twitter.com/38gSCHTiPd
— Azuki (@Azuki)
May 22, 2024
Founded in 2021, Chiru Labs is a Web3 studio focused on shaping the future of storytelling. The studio builds digital products at the intersection of art, technology, and community. The company is a pioneer in the exciting world of non-fungible tokens, bringing together digital art and blockchain technology.
Chiru Labs is the creator of the well-known non-fungible token series Azuki, which has 10,000 limited-edition anime-themed NFTs; the Azuki Elemental series has 20,000 limited-edition NFTs; and the Beanz series has 19,950 Ethereum limited-edition NFTs.
On the other hand, Magic Eden is a leading multi-chain NFT marketplace platform that supports non-fungible tokens on Solana, Ethereum, Polygon, and Bitcoin. Currently, it is the largest and most well-known NFT marketplace on the Solana network, where it was originally launched. The platform allows users to create, buy, sell, and collect NFTs.
Azuki x Satoshi Nakamoto NFT Vest Overview
In this collaboration, Azuki and Magic Eden plan to leverage each other’s capabilities and experience to create the Azuki x Satoshi Nakamoto vest. The Azuki x Satoshi Nakamoto Enduro Hoodie series will launch a limited edition of 98 vests, each of which has a unique dual-chain NFT that exists on both BTC and ETH.
Behind The Beans: Azuki x SATOSHI NAKAMOTO
pic.twitter.com/ya9JMHl5qR
— Azuki (@Azuki)
May 23, 2024
The Azuki x Satoshi Nakamoto Enduro Hoodie is a Physically Backed Token (PBT, EIP-5791), which means that owning this NFT will prove that you own one of the 98 vests. For any transfer, each vest requires decentralized on-chain verification, offline demonstration of ownership, and a signature from the physical chip embedded inside the vest.
Meanwhile, Azuki’s floor price has slightly reacted to recent bullish developments. According to data compiled by crypto market aggregator and multi-chain non-fungible token explorer Coingecko.com, Azuki’s floor price rose from 4.49 ETH at the beginning of May 22 to 4.64 ETH after the announcement. At the time of writing, Azuki’s floor price is consolidating around 4.42 ETH.
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