Azuki Hits All-Time Low, Despite “Elementals” Successful Launch

• New Launch, Azuki Elementals raised $38 million in 15 minutes.
• Azuki floor price saw a 31% decline in 24H.

Azuki, the highly successful NFT brand, is currently making big waves in the digital art market. With the new launch of “Azuki Elementals,” they find themselves teetering on the line between a downtrend and reaching their high goals. Speaking of progress, Azuki managed to raise $38 million in just 15 minutes during its latest drop.

However, the recent downturn in the NFT industry has had an impact, with Azuki Elementals currently priced at 1.65 ETH, falling below the initial price of 2 ETH. The entire Azuki brand NFT series has experienced a significant decline, causing the Azuki floor price to drop to 10 ETH, representing a 31% decrease in just 24 hours.

Notably, Azuki Elementals offered 20,000 NFTs inspired by the four elemental forces: earth, fire, lightning, and water. These digital assets possess various levels of rarity traits, which were kept secret until the moment of purchase.

Azuki Elementals Sparks Excitement Amidst Challenges

Through the sale of Azuki Elementals, the Azuki official team (0x3A…6305) received 20,000 ETH. It was then transferred to the Azuki team’s multi-signature address (0x2a…60AA). Prominent buyers included luggis.eth ($1.53 million), christian2022.eth ($1.39 million), beanwhale.eth ($1.09 million), and suicide.eth ($0.51 million), among others.

The NFT drop utilized a Dutch auction format, commencing at a price of 2 ETH ($3,800) per NFT. Additionally, 10,000 Elementals NFTs were airdropped to existing Azuki NFT holders over the weekend, further rewarding their community.

Zagabond, the pseudonymous co-founder of Azuki, expressed excitement in an interview with popular crypto media, stating, “Azuki Elementals expands the universe we created with the original Azuki collection. This represents our most ambitious artistic endeavor to date…”

Looking ahead, the team plans to unveil the captivating Elementals artwork and initiate secondary trading. Finally, by taking high roads, Azuki continues to captivate the NFT community with its innovative approach and engaging artwork.