The low price of the Azuki NFT has dropped 65% since Elementals launched in June, according to Nansen data.
On June 26, the day before Elementals was released, the Azuki price was hovering around 15 ETH ($28,250).
In the following month, as of July 27, the floor price plummeted to 5 ETH ($9,724), and Azuki’s transaction volume for the month also dropped by 78%.
Azuki launched a new NFT collection called Elementals on June 27, airdropping 10,000 anime-inspired avatars to existing Azuki brand holders.
Another 10,000 pieces will be auctioned off, but the collection sold out before the public had a chance to purchase the NFT. Azuki admitted that there were missteps in the release process and stated that we fell short of our goals.