Performance analysis of Azuki’s ‘BEANZ’ NFT collection
As NFTs which have become some of the most sought after products in recent times, multiple investors are turning to buying, selling and trading irreplaceable tokens (NFT). For now, individuals can access many NFT markets, including BAYC, Doodles and MAYC. Meanwhile, Azuki’s BEANZ Official, his latest NFT, plans to join the NFT Cool Club.
Why is BEANZ popular?
When publishing this content, BEANZ NFT had an average price of 7,119 ETH. Meanwhile, the average price of NFT on May 5 was 5,926 ETH. Data from OpenSee show that the NFT collection was 853.61% in the previous day and 420% in the last seven days. Moreover, average sales were 150 on May 5 before exploding at 1,371 in the next 24 hours.
Although most recognized NFTs record a slowdown in sales, BEANZ Official NFT is emerging on its unique path.
Individuals with previous Azure NFT collections received an airdrop on April 1, announcing something upcoming. Although the surprising releases at Airdrop caused a hype for the NFT collection, it faded in a short time.
However, the team presented the NFT collection on May 5. A tiny BEANZ has appeared on the dirt airdrop, so the surprise of the airdrop is the latest NFT collection from Azuki. Moreover, Azuki Twitter is processing informed NFT users about the launch of BEANZ, and several investors have taken to Twitter to announce the pairing of their Azuki NFTs with an upcoming ‘bean’.
What’s next for BEANZ?
Although OpenSea statistics point to the success story behind the latest collection by Azuki, Dune Analytics has its data telling otherwise. The daily volume of OpenSea Ethereum was about 49,166 on May 6, less than 168,531,426 on May 5.
Moreover, OpenSea data shows that significant collections such as BAYC, OkayBears, MAYC and Doodles have not shown impressive performance in the previous 24 hours. Therefore, given that the above data show that it would be thought that BEANZ could enjoy an increase in popularity for a few days, the hype could disappear over time. That would mean imitating the performance of its counterparts in the NFT industry.
What do you think about NFT marketplace in this moment? Remember, NFTs dominated the market last year and early 2022. Has the hype gone? You can comment below.
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