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

NFT

With NFTs becoming the most sought-after thing of late, a number of investors are turning their attention toward buying, trading, and selling NFTs. With BAYC, MAYC, Doodles, and many such popular NFTs in the market, Azuki’s latest NFT collection called BEANZ Official is set to join the ‘NFT Cool Club’.

What makes BEANZ so popular?

At the time of writing, the average price of one BEANZ NFT was 7.119 ETH on May 6, while the average price of one NFT on May 5 was 5.926 ETH.

As per data from OpenSea, the NFT collection witnessed a spike of 853.61% in the last 24 hours and 420.61% in the last seven days. Furthermore, the average number of sales as of 5 May was a mere 150, whereas the number of sales soared to 1,371 as of 6 May.

Although the most popular NFTs are seeing a slowdown in sales, the official BEANZ NFTs seem to be following a different path.

Sprouting of the ‘BEANZ’

On 1 April, individuals that held NFTs from Azure’s previous collections were sent surprise airdrops that turned out to be the GIF of a pile of dirt with an announcement stating that something was coming up. The surprise airdrop did lead to some hype around the collection but fizzled out very quickly.

However, on May 5, the NFT collection was revealed. The dirt pile that was dropped to users saw the tiny BEANZ pop out, revealing that the drop was actually Azuki’s final NFT collection.

Furthermore, Azuki Twitter handle went ahead to notify NFT owners of the BEANZ reveal and after the reveal of the ‘beans’, several users took to Twitter to state the pairing of the new beans with their owned Azuki NFTs.

Will the BEANZ sprout or rot?

Despite the stats on OpenSea indicating success for Azuki’s latest collection, data from Dune Analytics indicates otherwise. The OpenSea daily volume for Ethereum as of May 6 was 49,166, which is lower than the May 5 daily volume of 168,531,426.

Furthermore, as per data from OpenSea, notable NFT collections, such as BAYC, MAYC, OkayBears, Doodles, and so on did not record impressive performances, especially in the last 24 hours.

So, considering the above-mentioned data, it can be said that although BEANZ may enjoy massive popularity for days, it may start to wane over time and begin to mirror the performance of its counterparts in the NFT space. .

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