Azuki set to launch ‘Azuki Elementals’ NFT collection with 20,000 tokens
Azuki’s official Twitter account announced that the Azuki Elementals sale will commence on Tuesday, June 27 at 9:00 AM PT.
The 10,000 current owners of Azuki NFTs have already received an airdropped token for one of the Elementals, which accounts for half of the total supply.
Follow up collection
Chiru Labs, the web3 startup responsible for the Ethereum-based NFT collection Azuki, is preparing to launch an extension to the project. The company recently announced the upcoming release of Azuki Elementals, a new collection comprising 20,000 NFTs.
With this expansion, Azuki Elementals will introduce a new wave of profile picture NFTs (PFPs).
The collection aims to be a follow-up to Azuki, the successful NFT project that emerged as the top-ranking new and original NFT project of 2022 based on trading volume.
The remaining Elementals from the highly anticipated NFT collection will be made available for purchase through a Dutch auction starting at 9:20 am PST. The initial price for each NFT will be set at 2 ETH, approximately equivalent to $3,750, and will decrease every 5 minutes until the entire supply is sold out.
Notably, the price of the final NFT sale will determine the price paid by all buyers, ensuring fairness, and early purchasers will receive refunds for the price difference.
According to CryptoSlam, an analytics platform, Azuki has achieved an impressive trading volume of over $1 billion to date, setting high expectations surrounding the forthcoming Elementals collection.
Unfortunately, at the same time, the blue chip NFT collection, which holds a prominent position on the Ethereum network, has recently encountered a notable decrease in its floor price.
In the past few days, the floor price of Azuki dropped from 17.5 ETH to 14.99 ETH at the time of writing.
The market may be recovering
So, where does the market land? After a substantial decline in global non-fungible token sales since early 2022, coinciding with the bearish phase of the crypto market, data suggests there is a resurgence of NFT sales amid the current bull run as signified by a $7 million Ordinal deal.