NFT Market Experiences Sharp Decline Following Controversial Azuki Elementals AirDrop

Last week’s Azuki Elementals AirDrop, which became the center of controversy, caused a backlash that hit the NFT market as a whole. The NFT market experienced a sharp drop in the past 24 hours. A Significant Decline in the NFT Market Famous market observer Colin Wu, referring to data obtained from NFT data platform NFTGo, highlighted the sharp decline in the NFT market. Wu emphasized the drop in the base price of leading NFT collections, saying, “BAYC fell by 16% to below 30 ETH, MAYC dropped 20% to below 5 ETH, and Azuki decreased 11% to under 6 ETH. The total market value of the NFT market dropped 53% to 3.33 million ETH over the past year.” Azuki Elementals were minted on June 27, causing significant excitement in the Web3 community. The Azuki Elementals, marketed as the next stage of the famous anime-themed Azuki PFP project, sold out quickly with […] The post NFT Market Experiences Sharp Decline Following Controversial Azuki Elementals AirDrop appeared first on COINTURK NEWS.