Another OpenSea bug strikes again. It’s a less-than-ideal way to end the week for the once-blue NFT collection, Azukis. Azuki NFT holders were woken up on Friday by an email from OpenSea purportedly informing NFT owners that many Azuki NFTs were being delisted. The former blue chip collection has had a substantial fall from grace, but is still highly respected with a consistent minimum price around 10 ETH lately.
While resubmissions for the project appear to be happening throughout the day on Friday, the error represents another “accidental deletion” of a major project on OpenSea. Let’s take a look at more details of the situation and what we can expect next.
An OpenSea flaw, or Azuki’s fate?
There was no shortage of speculation in the NFT community on Friday, as some people believed it could have a major impact on the collection, rather than a mistake on OpenSea’s part. However, Azuki’s official Twitter account and product manager Demna were quick to keep an open line of communication with the community:
We have held hands @opensea on unlisting emails sent to Azuki holders, awaiting response. Our working theory is that we are facing an error/problem similar to this. Check Discord for live updates, @DemnaAzuki We’ll also be tweeting as we work to resolve this issue. https://t.co/azJhiXzEE0
— Azuki (@AzukiOfficial) September 30, 2022
Demna has described the problem as a “technical error” in OpenSea and the NFT market they made a statement of their own on Friday morning, he proclaimed that there was a “bug in our trust and safety signaling system” that caused Azukis to be delisted, but that his team worked quickly to resolve the issue.
Ethereum (ETH) based NFT collection, Azuki, had to deal with some hiccups on Friday following an accidental delisting on OpenSea. | Source: ETH-USD on TradingView.com
It’s not the first time…
As referenced on Azuki’s Twitter account, this isn’t the first time we’ve seen this happen with a blue chip collection at OpenSea. In June, The Bored Ape Yacht Club faced a similar dilemma, with OpenSea briefly withdrawing some of the BAYC collection. In general, this is not a new problem or a particularly clear problem to understand, but its ramifications can be substantial. Fortunately for Azukis, the price floor before and after Friday’s delisting debacle was relatively unchanged, dropping from just above 10ETH to just below 10ETH and currently sitting at 9.97ETH at the time of publication.
However, it has still been a substantial fall from grace for a high-flying project. At one point earlier this year, the project had an average daily sale price of just under 40 ETH, but in recent months, some Azukis have sold for a fraction of that, sometimes posting average daily sales between 6ETH and 7ETH.
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