Analyzing Performance of Azuki’s ‘BEANZ’ NFT Collection
As NFTs become some of the most sought-after products of late, multiple investors are shifting towards purchasing, selling, and trading non-fungible tokens (NFTs). For now, individuals can access many NFTs marketplaces, including BAYC, Doodles, and MAYC. Meanwhile, Azuki’s BEANZ Official, its latest NFT, plans to join NFT Cool Club.
Why is BEANZ Popular?
While publishing this content, BEANZ NFT had an average price of 7.119 ETH. Meanwhile, the NFT’s average price on May 5 stood at 5.926 ETH. Data from OpenSea shows the NFT collection saw an 853.61% within the previous day and 420% in the last seven days. Moreover, average sales stood at 150 on May 5 before exploding to 1,371 within the following 24hrs.
Though most recognized NFTs see slowdowns in terms of sales, BEANZ Official NFT appears on its unique path.
Individuals with Azure’s previous NFTs collections received airdrops on April 1, which announced something impending. Though the surprise airdrops triggered hype for the NFT collection, it faded within no time.
Nevertheless, the team introduced the NFT collection on May 5. The dirt airdrop saw a tiny BEANZ emerging, therefore showing the surprise airdrop was the latest NFT collection by Azuki. Moreover, Azuki Twitter handles informed NFT users about the BEANZ launch, and several investors stormed Twitter to announce the pairing of their Azuki NFTs with the near ‘bean.’
What is Next for BEANZ?
Though OpenSea stats indicated a success story behind the latest collection by Azuki, Dune Analytics has its data stating otherwise. OpenSea’s Ethereum daily volume stood around 49,166 on May 6, lower than 168,531,426 on May 5.
Moreover, OpenSea data shows notable collections like BAYC, OkayBears, MAYC, and Doodles didn’t present impressive performances within the previous 24 hours. Therefore, considering the mentioned data shows that thought BEANZ could enjoy surged popularity for some days, the hype might fade within time. That would see it mimicking performances by its peers within the NFT industry.
What are your thoughts about the NFT marketplace at the moment? Remember, NFTs dominated the marketplace last year and early in 2022. Has the hype disappeared? You can comment below.
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