Azuki NFTs have experienced a 65% price decrease in the month following the Elementals launch in June, as reported by Nansen. Trading volume for Azuki has also seen a significant tumble, falling 78% this month.
Data from Nansen reveals that prices for Azuki NFTs have dropped by 65% since the launch of the Elementals collection on June 27. On June 26, Azuki prices were hovering around 15 ETH ($28,250), but a month later, on July 27, the floor price had dropped to 5 ETH ($9,724).
In addition to the price drop, Azuki's trading volume has plummeted by 78% this month. Azuki launched the Elementals NFT collection, which included 10,000 anime-inspired avatars airdropped to existing Azuki brand holders. An additional 10,000 were made available for sale, but sold out before the public could purchase any of the NFTs.
Azuki acknowledged the missteps in the launch, stating that they "missed the mark." Despite the controversy surrounding the launch, the Elementals drop still netted Azuki $51 million in sales and became the highest trading volume for the collection.
