Azuki's ANIME token surpasses $350 million market capitalization one day after launch

Animecoin (ANIME), a new token supporting the Azuki NFT project's ecosystem, garnered a market capitalization of over $350 million one day after its launch. 

ANIME, which is current trading hands at $0.063, has a fully diluted value (FDV) of around $630 million with approximately 5.53 billion tokens in circulation, according to CoinMarketCap as of press time. 

ANIME launched on Jan. 23 with a total supply of 10 billion tokens. According to the project's tokenomics page, 37.5% of the tokens will go to the Azuki community with an additional 13% set aside to managed by ANIME holders through a future DAO for “community cultivation."

The Azuki Foundation will receive 24.44% of the tokens, with the remaining roughly 25% split between the Azuki company, early contributors and partner communities including Hyperliquid's HYPE stakers, Kaito yappers and Arbitrum communities. These tokens set aside for early contributors, advisors and Azuki employees will unlock over three years, with a one year cliff.

Animecoin is a part of the anime-based web3 network  that Azuki and the Arbitrum Foundation are building. Forthcoming launches include Animechain , a Layer 3 network built using Arbitrum's Orbit technology that will use Animecoin as a gas token.

Launched by Chiru Labs in 2022, the Azuki NFT project contains 10,000 digital artworks of anime-inspired figures. The project is one of the most popular NFT collections by weekly trading volume, drawing in $31.6 million between Jan. 12 and Jan. 19, The Block's Data Dashboard shows. 

Chiru Labs also launched a virtual world for the Azuki ecosystem called Hilumia in January 2023, The Block previously reported.