- Azuki struggled to recoup faded investor interest in NFTs.
- The collection has witnessed a dropping sales volume since Jan 2022.
- Azuki’s sales volume hovered around the 412 million mark in June.
Azuki, like other digital collectibles, witnessed a substantial decline in sales volume amidst bearish tendencies within the NFT and crypto markets during the year’s first half.
Azuki rallied past Moonbirds, VeeFriends, and CloneX on NFT rankings by total sales volume. The collectibles boast an all-time sales volume of around $781.05 million. Research by Be (In) Crypto shows Azuki’s sales volume hovered at $12.06M in June.
Though the number could appear small compared to Azuki’s sales the previous month, June’s volume outpaced most successful non-fungible token projects, Meebits, NBA Top Shots, The Sandbox, (BACK) Bored Ape Kernel Club, and Axie Infinity.
Nevertheless, this number stayed lower than BAYC (Bored Ape Yacht Club), Otherside, and MAYC (Mutant Ape Yacht Club). In that context, the recently monthly figure was 91% down from $147.97 million in May’s volume.
Azuki joined the scene on 12 January 2022 and comprises 10,000 avatars that warrant exclusive access to the internet space where artists, builders, and Web3 fans link to build a decentralized future. Being an Azuki holder offers you exclusive airdrops, experiences, and more.
Why the Declining Sales?
Evaluating the drop in unique buyers since June shows that declined sales triggered the plunging transaction numbers, with 837 transactions and 563 distinct buyers. Meanwhile, the figures welcomed January 2022 at 18,012 transactions and 9,123 buyers. Azuki sales hovered at $219.08 million during 2022’s initial month.
Hitting record sales below $100M had Azuki touching yearly lows as it lost $207 million from January sales. Meanwhile, the crypto market struggled to maintain recent gains that pushed the global crypto market capitalization beyond $1 trillion. Bitcoin remained weak around the $22K mark, changing hands at $21,816.49 during this publication.
Though the latest upswings triggered optimism within the crypto community, investors should prepare for retracements in the coming hours or days. The market lacks the strength to remain elevated, and bears will likely inflict declines.
Stay around for the latest financial developments.
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