NFT market deteriorates following Azuki’s incident

July 03, 2023 04:58 PM AEST | By Invezz

NFT market deteriorates following Azuki’s incident — Image source: Invezz

Azuki Elementals fail to satisfy the community

The Azuki Elementals collection launched last week and sold for 2 Ethers (approximately $3.8K) per piece. Nonetheless, the floor price resorted to declines, now hovering below 0.8 Ether within seven days of launch.

Azuki Elementals failed to satisfy creators and NFT enthusiasts. As seen here, many believed the latest collection resembled the original Azuki PEPs.

The new Elementals collection introduced small changes but exhibited some strange artwork mistakes. For instance, an individual holds a magic wand that lacks a handle. Market players are selling original Azuki NFTs as they believe Elementals non-fungible tokens will make the project less valuable.

NFT market records declines

NFTGo data shows the overall NFT market has plunged by 53% within the past twelve months to 3.32 million Ether. Also, the sector’s yearly volume fell to 6.23 million Ether within that timeframe.

The post NFT market deteriorates following Azuki’s incident appeared first on Invezz.

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