According to data analysis on Opensea, the bottom price of Azuki NFT is 6.85 ETH, down 16% in the past 24 hours and down 54% in the past week.
Azuki minimum price in the last 7 days. Source: Open Sea
The bottom price of Azuki Elementals is 0.95 ETH, down 19.49%, and the bottom price of Beanz is 0.3838 ETH, down 10.37%.
Despite its commercial success, the anime-style non-fungible token (NFT) collection “has yet to reach its desired goal” for the new NFT installment Elementals. However, some Azuki NFT owners have expressed disappointment that the new Elemental collection is very similar to the previous one, which caused a significant price drop on June 28, 2023.
An angry section of NFT fans criticize the Azuki NFT team for their clumsy work in releasing the latest NFT. Some on crypto Twitter have questioned the exclusivity and value of Azuki NFT, which caused the price of the company’s native non-fungible token to drop 34% in the 24 hours after Elementals minted it.
The new drop still drives sales to about $38 million, but instead of attracting new buyers, some say the sales were mostly from existing buyers. Azuki’s official Twitter account quickly released a statement acknowledging their mistake and blaming it for coming up with an “ambitious goal”.
Elementals’ decline focuses on the challenging environment for the NFT as the crypto market continues to lag. The best NFT projects exist because of the strong communities they provide and their value to members. In a declining market, it becomes even more important to grow this community.
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