Decoding the performance of Azuki’s latest NFT collection ‘BEANZ’

With NFTs changing into probably the most sought-after factor of late, plenty of traders are turning their consideration towards shopping for, buying and selling, and promoting NFTs. With BAYC, MAYC, Doodles, and lots of such well-liked NFTs out there, Azuki’s newest NFT assortment known as BEANZ Official is ready to hitch the ‘NFT Cool Membership’.

What makes BEANZ so well-liked?

On the time of writing, the common worth for one BEANZ NFT was 7.119 ETH on 6 Might, whereas the common worth for one NFT as of 5 Might was 5.926 ETH.

As per knowledge from OpenSea, the NFT assortment witnessed a spike of 853.61% within the final 24 hours and 420.61% within the final seven days. Moreover, the common variety of gross sales as of 5 Might was a mere 150, whereas the variety of gross sales soared to 1,371 as of 6 Might.

Screenshot 2022 05 06 152159

Supply: OpenSea

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Regardless of the most well-liked NFTs witnessing a slowdown almost about their sale, the BEANZ Official NFTs appear to be following a distinct path.

Sprouting of the ‘BEANZ’

On 1 April, people that held NFTs from Azure’s earlier collections had been despatched shock airdrops that turned out to be the GIF of a pile of grime with an announcement stating that one thing was arising. The shock airdrop did result in some hype across the assortment however fizzled out in a short time.

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Nonetheless, as of 5 Might, the NFT assortment was revealed. The pile of grime that was airdropped to the customers witnessed tiny BEANZ coming out, thus revealing that the airdrop was actually Azuki’s newest NFT assortment.

Moreover, Azuki Twitter deal with went forward to notify NFT homeowners of the BEANZ reveal and after the reveal of the ‘beans’, a number of customers took to Twitter to state the pairing of the brand new beans with their owned Azuki NFTs.

Will the BEANZ sprout or rot?

Regardless of stats on OpenSea pointing towards successful story for Azuki’s newest assortment, knowledge from Dune Analytics states in any other case. The OpenSea day by day quantity for Ethereum as of 6 Might stood at 49,166, which is decrease than the day by day quantity for five Might which stood at 168,531,426.

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Supply: Dune Analytics

Moreover, as per data from OpenSea, notable NFT collections, reminiscent of BAYC, MAYC, OkayBears, Doodles, and so forth didn’t report spectacular performances, particularly within the final 24 hours.

Thus, making an allowance for the aforementioned knowledge, it may be acknowledged that though BEANZ might get pleasure from huge reputation for numbered days, it could start to fizzle out in time and should begin mirroring the efficiency of its counterparts within the NFT house.

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