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Azuki NFT Shed over $200 Million Since The Inception

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  • The Azuki NFT collection is associated with anime.
  • It boomed during the beginning of this year.
  • The project has released a digital to physical experience for holders.

Azuki NFT Sales Getting Weak

Azuki, the prominent anime based NFT collection which entered the market like Broly in Dragon Ball Z, out of nowhere and dominating the saiyans like Goku, Trunks and more. It is a collection of 10,000 distinct characters. It rose to prominence since its inception and placed itself among the top collections in the market. Many even speculated that this virtual collection may surpass channels like BAYC.

The anime style collection gives access to “The Garden.” It is described as a corner of the internet where art, culture and community comes together to create magic. The collections saw a considerable surge in its trading volume upon its initiation. Azuki #9605 remains its highest grossing NFT. It was sold for 420.7 Ethereum ($1.4 Million at that time).

However, the collection’s sales are getting weak, it appears. There was a time when the channel overcame collections like The Sandbox, NBA Top Shot, Bored Ape Kennel Club and Axie Infinity. Azuki collection had a trade volume of $219.08 Million during January 2021, but it plunged during June to $12.06 Million, shedding about $207 Million till now.

Reason for this heavy downfall remains the lessening transactions and unique buyers of the collection. During January 2021, the channel had 9,123 unique buyers and 18,012 transactions, which came down to 563 distinct buyers and 837 transactions in June 2021.

The Twin Tiger Azuki Jacket

Recently, the Azuki project decided to release a digital-to-physical experience for its holders. The organization announced that they are unveiling their physical Twin Tiger jackets. It is based on 1940’s style blending the American and Japanese street culture. The initiative includes 10,000 pieces in the collection made by their in-house tailor Takeda.

The NFT sector is a booming place for artists as well as organizations. Artists can sell their artworks to generate revenue. For example, The Beeple’s Everydays NFT was sold for $69.3 Million. Organizations can advertise, provide utility and more by launching NFTs. For instance, Prada released their oversized NFT shirts, which were associated with a limited number of physical pieces.

Anurag

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