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Azuki NFT collection price increased by 47% in the last month

October 23, 2023

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Azuki NFT collection price increased by 47% in the last month

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The floor price of the NFT Azuki collection, famous for its profile images used by the crypto-community, has risen 47% in the past month. Specifically, the price has risen from 3.7 ETH thirty days ago to the current 5.3 ETH.

NFT Azuki see’s 47% increase in floor price
NFT Azuki: price trend of the collection since launch
The launch of Elementals

NFT Azuki see’s 47% increase in floor price

Azuki is an NFT collection with a total market cap of more than $90 million and currently priced at 5.3 ETH, the equivalent of $9,039.

The collection, launched in early 2022, represents 10,000 unique NFTs, in the pfp format, and that is commonly used as a profile image by the crypto-community. The unique Azuki prices are generative NFT avatars inspired by anime-style artwork, with a distinct artistic style.

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All 8,700 Azuki NFTs, available for mint, were sold for 1 ETH, in a Dutch auction that sold out in 4 minutes. In addition, an unspecified number of the remaining NFTs were minted through a private whitelist sale, which sold for 0.5 ETH each.

The price trend of the collection since launch

At the time of writing, there are as many as 4,219 unique owners of the NFT Azuki collection, but viewing the total graph of its floor price, the story is quite different than it seems.

And in fact, after launch, the floor price of the NFT collection of Azuki’s pfp profile images peaked at 31.8 ETH on 3 April 2022.

Then from 11 May 2022, the price dropped to as low as 8.3 ETH. From there, the price fluctuated, always remaining above that floor price.

At the beginning of July 2023, however, the floor price fell below the threshold, initially touching 6.43 ETH, down to 3.55 ETH in August. In this past month alone, the price of the NFT collection has been pumping.

The launch of Elementals

Last June 2023, Azuki launched its new Elementals collection, consisting of 20,000 NFTs, also on Ethereum.

Again, the Dutch auction mode was chosen for the initial sale, with a starting price of 2 ETH per NFT, the equivalent of $3,750 each at that time.

The idea expressed by Chiru Labs, the Web3 startup behind Azuki, is to expand the original anime-themed project with additional profile images.

The previous owners of NFT Azuki received one of the Elementals, leaving half of the supply for public sale.

In this regard, in July 2023, the decline in Azuki’s floor price was associated precisely with the NFT Elementals collection, which was accused of mismanagement by the team.

Not only that, critics also accused the team of holding 20,000 ETH with no progress in the past year.