Azuki Elementals NFT Series Faces Price Drop

Spread the news

The Azuki recently concluded the sale of Azuki Elementals, resulting in the acquisition of 20,000 ETH, equivalent to approximately $37 million. The funds were subsequently transferred to the Azuki team’s multi-signature address (0x2a…60AA). Notable individual buyers who made substantial contributions to the sale include luggis.eth ($1.53 million), christian2022.eth ($1.39 million), beanwhale.eth ($1.09 million), and suicide.eth ($0.51 million), among others.

Floor Price Decline:

Despite the initial excitement surrounding the Azuki Elementals NFT series, the floor price has experienced a significant decline, now sitting at 1.65 ETH. This drop is below the original issue price of 2 ETH, causing concern among investors and collectors. Within a span of 24 hours, the Azuki floor price plummeted by 31%, reaching a low of 10 ETH.

Challenges and Co-Founder’s Admission of Failure:

The sharp decline in the Azuki Elementals’ floor price has raised questions about the project’s overall success and viability. In response to the situation, one of the co-founders of Azuki openly acknowledged the failure and expressed disappointment with the minting experience. The co-founder admitted that the minting process did not meet expectations, which may have contributed to the negative sentiment surrounding the NFT series.


Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Crypto Fear & Greed Index