Azuki Launches Phygital NFT 'Satoshi Nakamoto' Hoodies on Bitcoin and Ethereum

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Chiru Labs, the digital asset incubation studio and the parent company behind the Azuki non-fungible token collection, has partnered with Magic Eden, a multi-chain non-fungible token marketplace, to launch tokenized Satoshi Nakamoto hoodies. Azuki phygital nft hoodies will launch on ethereum and bitcoin.

Blue-chip company Azuki leverages Magic Eden to create nft hoodies

In a May 22 blog post, Azuki creator Chiru Labs confirmed its partnership with Magic Eden to deploy a physically backed token on the bitcoin and ethereum blockchain networks. The Azuki x Satoshi Nakamoto Enduro Hoodie will feature a unique dual-chain nft that will exist simultaneously in btc and eth.

We will bring the Physically Backed Token (PBT) to bitcoin.

The Enduro Azuki x SATOSHI NAKAMOTO Hoodie will feature a unique dual-chain nft, existing simultaneously in btc and eth, developed in collaboration with twitter.com/MagicEden?ref_src=twsrc%5Etfw”>@MagiaEden. pic.twitter.com/38gSCHTiPd

—Azuki (@Azuki) twitter.com/Azuki/status/1793325877209846207?ref_src=twsrc%5Etfw”>May 22, 2024

Established in 2021, Chiru Labs is a Web3 studio focused on shaping the future of storytelling. Web3 studio creates digital products at the intersection of art, technology and community. This company is a pioneer in the exciting world of non-fungible tokens, fusing the fields of digital art and blockchain technology.

Chiru Labs hosts popular collections of non-fungible tokens, including Azuki, a collection with a limited edition of 10,000 anime-themed nfts; Azuki Elemental, a collection with a limited set of 20,000 nfts; and Beanz, a limited supply collection of 19,950 ethereum nfts.

On the other hand, Magic Eden is a leading multi-chain nft market platform that supports non-fungible tokens on Solana, ethereum, Polygon, and bitcoin. It is currently 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 Hoodies Overview

Under the new integration, Azuki and Magic Eden anticipate leveraging their capabilities and expertise to create the Azuki x Satoshi Nakamoto hoodies. The Azuki x Satoshi Nakamoto Enduro hoodie collection will feature a limited edition of 98 hoodies with a unique double-chain nft, existing simultaneously in btc and eth.

Behind the beans: Azuki x SATOSHI NAKAMOTO pic.twitter.com/ya9JMHl5qR

—Azuki (@Azuki) twitter.com/Azuki/status/1793449229031178508?ref_src=twsrc%5Etfw”>May 23, 2024

The Azuki x Satoshi Nakamoto Enduro Hoodie is a physically backed token (PBT, EIP-5791), which means owning this nft will be proof that you own one of the 98 hoodies. For any transfer, each hoodie requires decentralized on-chain verification, off-chain ownership flexibility, and signing from a physical chip embedded within the hoodie.

Meanwhile, the Azuki price floor has reacted slightly to the recent bullish development. Data collected by nft/azuki”>CoinGecko.com, an on-chain crypto market aggregator and multi-chain non-fungible token explorer, Azuki's floor price jumped from 4.49 eth at the beginning of May 22 to 4.64 eth shortly after the announcement. At the time of writing, Azuki's price floor is consolidating around 4.42 eth.