Azuki, like all other digital collectibles, saw a significant plunge in sales volume due to the bearish trend of the crypto and NFT markets in the first half of the year.
Azuki has climbed above Moonbirds, CloneX, and VeeFriends on the rankings of the biggest NFTs by all-time sales volume. The digital collectibles had a total sales volume of approximately $781.05 million. According to Be[In]Crypto research, Azuki had a sales volume of around $12.06 million in June.
While this figure may seem small due to the previous monthly sales of Azuki, June’s volume was higher than the most successful NFT project, Axie Infinity, NBA Top Shots, Meebits, Bored Ape Kernel Club (BAKC), and the Sandbox.
However, this statistic was lower than the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Otherside. With that said, the latest monthly value was a 91% dip from May’s volume of $147.97 million.
New to Azuki?
Launched on Jan. 12, 2022, Azuki comprises a collection of 10,000 avatars that grants exclusive membership access to a corner of the internet where Web3 enthusiasts, builders, and artists (collectively called The Garden) link up to create a decentralized future.
Becoming an Azuki holder grants you access to exclusive experiences, airdrops, and more.
Why the fall in sales?
When you study the decline in the number of unique buyers from June, the drop in sales caused the descending transaction counts, with 563 unique buyers, and 837 transactions.
In comparison to the NFTs’ opening month in Jan. 2022, there were 9,123 unique buyers and 18,012 transactions. Azuki sales were around $219.08 million during the first month of the year.
After recording less than $100 million for the first time, Azuki reached a yearly low where it shed $207 million of January’s sales.
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.