Market Valuation of Azuki’s ANIME Token Soars to $350 Million Within a Day
One day after its introduction, Animecoin (ANIME), a new token that supports the ecosystem of the Azuki NFT project, has a market valuation of more than $350 million.
As of the time of writing, CoinMarketCap estimates that ANIME, which is now trading at $0.063, has a fully diluted value (FDV) of about $630 million and 5.53 billion tokens in circulation.
A total of 10 billion tokens were available when ANIME started on January 23. Azuki will receive 37.5% of the tokens, while ANIME holders will administer the remaining 13% through a future DAO for “community cultivation,” according to the project’s tokenomics page.
The Azuki Foundation will get 24.44% of the tokens, while the Azuki Corporation, early donors, and partner communities—such as Hyperliquid’s HYPE stakes, Kaito yappers, and Arbitrum ARB communities—will share the remaining approximately 25%. With a one-year cliff, these tokens reserved for early contributors, advisers, and Azuki staff will unlock over three years.
Azuki and the Arbitrum Foundation are developing an anime-based Web3 network, which includes Animecoin. Animechain, a Layer 3 network constructed with Arbitrum’s Orbit technology and utilizing Animecoin as a gas token, is one of the upcoming deployments.
Chiru Labs also launched a virtual world for the Azuki ecosystem called Hilumia in January 2023, The Block previously reported.