Big news leading up to Aku’s anniversary next week (2/21/23). Today, the team announced the release of new NFTs (“Yellow Backpacks”) which will serve as “the bridge assets of Aku” that distribute special digital or physical items.
Key Takeaway: The Aku team is introducing a new burn mechanic that allows holders to burn Chapters and/or Akutars to acquire new Yellow Backpack NFTs. Those who choose to burn will acquire new Aku assets, which will reduce the outstanding supply of existing Aku NFTs (Chapters & Akutars).
Other Details:
Two special backpacks will be introduced next week:
1) World Backpack (containing the 1st ownable Aku World NFT, “The Hallway”)
2) Art Backpack (containing 2 random artworks from Aku’s Art Collection)
Aku’s Worlds are inspired by the 10 Aku Chapters. The first is modeled after Chapter I and can only be acquired by burning one Aku Chapter (any chapter), meaning supply will be determined by the # of Chapters burned.
Aku’s Art Collection begins with 5 artists, each with 100 editions. Each Art Backpack contains 2 random artworks and can be acquired by burning one Akutar (Art Backpacks will also be available for purchase according to the thread).
This is only the beginning, so it’s worth monitoring how the new burn mechanism impacts supply and demand dynamics over the next couple weeks.
Note: Floor prices for Akutars appear to be creeping higher but are still < 0.3 ETH on OpenSea (compared to 0.4 ETH a month ago). The floor on Blur is even lower at 0.22 ETH as of this writing.
