Azuki, just like other digital collectibles saw a significant decline in sales volume as a result of the bearish trend of NFT and crypto markets in the first six months of 2018.
Azuki has climbed above Moonbirds, CloneX, and VeeFriends on the rankings of the biggest NFTs by all-time sales volume. The total sales volume of digital collectibles reached $781.05million. According to Be[In]Crypto research, Azuki’s June sales volume was around $12.06 Million.
Source: CryptoSlam June 2022 Azuki Volume Chart
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.
Source: CryptoSlam May 2022 Azuki Volume Chart
Azuki: What’s new?
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.
You can become an Azuki holder to get access to special experiences, airdrops and other benefits.
Why is there a decline in sales
If you look at the fall in unique buyers starting in June, it is clear that the drop in sales was caused by the falling transaction counts with 563 unique buyer 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 totalled $219.08 millions in the first month.
Source: CryptoSlam Jan. 2022 Azuki Volume Chart
After recording less than $100 million for the first time, Azuki reached a yearly low where it shed $207 million of January’s sales.